Last year, Harvest Soul, Inc., a wholly-owned subsidiary of Fresh Promise Foods, Inc. (OTC: FPFI), made its mark on the booming organic foods industry through the release of an innovative line of chewable juice products. Within two months, the company had secured placement in all 32 Whole Foods Market (NASDAQ: WFM) locations in its five-state southern region, becoming the first USDA organic chewable juices available in the popular retail chain. Earlier this week, FPFI announced a consolidated debt initiative that’s expected to help it capitalize on the company’s strategic advantage and provide a platform upon which to promote positive and predictive growth.
“We have been working hard on this initiative and have found the right partners who truly understand what we are trying to achieve and who share our vision,” Scott Martin, vice president and head of investor relationships for FPFI, stated in a news release. “[W]e have found other funding sources that will provide us with the financial backing necessary, at a lower cost of capital, to execute against our business plan.”
As a revenue-producing brand with increasingly high levels of consumer acceptance, Harvest Soul is expected to play a key role in FPFI’s ongoing efforts to maximize shareholder value. In addition to providing the company with a foothold in the organic products industry, which grew by more than 11 percent last year, accounting for more than $39 billion in total sales, FPFI’s subsidiary is expected to become a very attractive acquisition target as it continues to gain market share.
In August, investors were given a preview of the potential of this aggressive growth strategy when The Coca-Cola Company (NYSE: KO) announced its entry into the organic juice niche through the acquisition of a minority stake in Suja Life LLC for roughly $90 million. The move was seen as an effort to counteract slowing soda sales resulting from the growing shift in consumer preference toward healthier food and beverage options. Over the next 16 months, FPFI plans to continue expanding the Harvest Soul family of brands into new markets and channels with the goal of replicating this success.
For more information, visit www.freshpromisefoods.com
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