NAPLES, Fla., Sept. 7, 2006 (PRIMEZONE) -- Innovative Food Holdings, Inc. (Pink Sheets:IVFH) announces that its wholly-owned subsidiary, Food Innovations Inc., has extended its existing contract with Next Day Gourmet, L.P., a wholly owned subsidiary of U.S. Foodservice, Inc., a unit of Royal Ahold (NYSE:AHO). The contract, in which Food Innovations will continue supplying fresh perishable foods to U.S. Foods and subsidiaries, will now run through September 10, 2007. The extension of the contract allows Food Innovations to focus on increasing sales throughout the entire U.S. Foods network of companies, and to leverage the U.S. Foods relationship to capitalize on other opportunities in the growing fresh food market.
Mr. Z. Zackary Ziakas, the Company's COO, commented, "The extension of the contract represents a major accomplishment and step forward for the Company. We believe that current management's focus on building internal organic growth and brand awareness combined with working closely with U.S. Foods and its subsidiaries, will enable Food Innovations to aggressively pursue revenue producing opportunities in the fresh food market unparalleled in our history. We look forward to rewarding the confidence of our shareholders by taking advantage of what we believe is a huge market opportunity."
About Innovative Food Holdings.
Innovative Food Holdings, Inc. through its wholly owned subsidiary, Food Innovations, Inc., provides just-in-time fine food products and food solutions to restaurants, hotels and other food industry establishments. Uniquely enabled by its business model, Food Innovations supplies discerning chefs with the food products they need, when they need them. Not Before. Not Later. Just-in-time.
This press release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about IVFH's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, adverse economic conditions, loss of a material contract, inability to attract prospective new customers or retain existing customers resulting in a declining revenue base, intense competition including entry of new competitors and services, adverse federal, state and local government regulation, unexpected costs and operating deficits, lower sales and revenues than forecast, default on leases or other indebtedness, loss of suppliers, price increases for capital, supplies and materials, inadequate capital and/or inability to raise financing, the risk of litigation and administrative proceedings involving the Company and its employees, higher than anticipated labor costs, the possible acquisition of new businesses that result in operating losses or that do not perform as anticipated, resulting in unanticipated losses, the possible fluctuation and volatility of the Company's operating results and financial condition, adverse publicity and news coverage, inability to carry out marketing and sales plans, loss of key executives, changes in interest rates, inflationary factors, and other specific risks that may be alluded to in this release or in reports filed by us with SEC. The forward-looking statements contained herein speak only as of the date on which they are made, and IVFH undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.