Barfresh Enters Strategic Relationship with Smart Beverage
Smart Beverage Will Distribute Only Barfresh Products to Its Customers Including Over 800 Schools
Relationship Expected to Initially Generate Revenue of $1 Million to $2 Million Annually In Current COVID-19 Environment
Excluding the COVID-19 Environment, Relationship Expected to Generate Revenue of $2 Million to $3 Million Annually
LOS ANGELES, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Barfresh Food Group, Inc. (the “Company” or “Barfresh”) (OTCQB: BRFH), a manufacturer of frozen, ready-to-blend and ready-to-drink beverages, announced it has entered into a strategic distribution relationship with Smart Beverage Inc., (dba Thirsty Coconut)., Inc. Smart Beverage will sell Barfresh’s full line of products, to include Twist & Go, and Bulk-Easy Pour, as well as sell and distribute Barfresh’s new range of WHIRLZ 100% juice Concentrates that are stored and delivered ambient to its existing and new customers. Barfresh’s products will be sold directly to Smart Beverage, then delivered by Smart Beverage together with any beverage equipment.
Smart Beverage currently has 1,000 frozen beverage machines in operation in over 800 schools throughout the mid-West including, Texas, Minnesota and Illinois and approximately another 600 customers it expects to install equipment and begin receiving Barfresh product once schools reopen and normal school operations resume. Barfresh products will be sold to approximately 1,400 schools as Smart Beverage replaces its previous frozen beverage offerings and adds new locations with Barfresh’s leading suite of healthy beverages creating an immediate replacement opportunity utilizing Barfresh’s superior products. The relationship is expected to deliver incremental growth to both Barfresh and Smart Beverage. It is initially expected to generate approximately $1.0 to $2 million on an annual basis in the current COVID-19 environment and $2 million to $3 million annually in a normal operating environment, excluding COVID-19.
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Smart Beverage also owns, operates and provides repair support for an extensive network of Bunn smoothie machines for their customers. Smart Beverage has 1,000 existing smoothie beverage dispensing machines in operation and 3,000 machines ready for deployment. Barfresh will now be able to focus on its strength of developing innovative beverages for all channels as Smart Beverage will manage, maintain, store, and deliver the equipment needed for Barfresh’s products to their new and replacement accounts.