The Real Good Food Company Appoints New Senior Food Executives to Lead Finance, Procurement, Supply Chain and Business Management - Seite 2

Joe Laws was appointed Vice President of Business Management, bringing over 25 years of experience in the packaged goods industry with continual increased roles of responsibility with Smithfield Foods, Con Agra Foods and Nestle Foods. He was previously Vice President of Business Management at Smithfield Foods, with principal duties including P/L management, revenue growth, trade, and business simplification. There he was instrumental in increasing profitability for Eckrich Smoked Sausage and Nathan’s Hot Dogs.

Management Commentary

“We are privileged to welcome these new senior leaders who will help us revitalize our core capabilities and most efficiently navigate domestic supply chains, financial reporting and the ongoing improvement in our business operations,” said Tim Zimmer, Chief Executive Officer of The Real Good Food Company. “I’d also like to thank Akshay Jagdale for his years of service as CFO and wish him well in his future endeavors. Turning to recent consumption data from Circana, we have seen that measured channel retail sales of our products increased 110% year-over-year in the four weeks ended April 21^st, 2024.

“Looking ahead, I believe these appointments – taken together with our investment in a new oven to expand Bolingbrook production capacity and the extension of our credit agreement with PMC by an additional year through 12/31/2026 – position us with the potential for a high level of operational execution on our path to profitability,” concluded Zimmer.

About Real Good Food Company

Real Good Foods, Inc. (NASDAQ: RGF) is a leading health and wellness frozen and refrigerated foods company, providing a better way to enjoy your favorite foods. The Company’s mission is to provide “Real Food You Feel Good About Eating”, making delicious, nutritious foods that are low in sugar, low in carbohydrates and high in protein. The Real Good Foods family of products includes breakfast, lunch, dinner, and snacks – available in over 16,000 stores nationwide with additional direct-to-consumer options.

To learn more, please visit our website at realgoodfoods.com or join us on social media @realgoodfoods, where we maintain some of the largest followings in the frozen food industry today.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding its projected financial results, its ability to increase production at its new facility, improve profitability and meet its long-term growth objectives, the anticipated conclusion regarding the impact of the errors identified in the Company’s previously issued consolidated financial statements, the scope of the anticipated restatement of previously issued financial statements as a result of the error, the succession of the Company’s Chief Executive Officer, and the costs and financial and business impact associated with the closure of COI. The Company has attempted to identify forward-looking statements by using words such as “anticipate,” "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," or "would," and similar expressions or the negative of these expressions.