LOS ANGELES - Barfresh Food Group Inc. (NASDAQ: OTC:BRFH), a known developer and distributor of ready-to-blend and ready-to-drink beverages, has announced the appointment of Marko Matla as Vice President of Supply Chain & Co-Manufacturing. As part of the company's efforts to bolster its supply chain operations and support new product introductions, Matla will be responsible for overseeing supply chain processes and co-manufacturing partnerships.
With over 25 years of experience, Matla joins the company bringing a significant track record in scaling supply chain operations for consumer packaged goods companies. His expertise spans procurement, production, quality assurance, distribution, logistics, and he has a history of establishing effective manufacturing and supply chain strategies.
Barfresh's CEO, Riccardo Delle Coste, expressed confidence in Matla's appointment, highlighting his extensive experience and leadership skills as critical for improving the company's supply chain flexibility and scalability. Delle Coste emphasized that Matla's role would be key in integrating new school accounts and maintaining a consistent product supply, which is anticipated to contribute to achieving record revenues in fiscal year 2024.
Matla himself remarked on his enthusiasm for joining the Barfresh team and his commitment to enhancing the company's supply chain to serve customers effectively and support long-term growth.
Barfresh Food Group specializes in products for the education market, foodservice industry, and restaurant chains, offering single serving and bulk format beverages for on-site preparation. The company's patented system delivers a freshly made frozen beverage designed to be cost-efficient and reduce waste.
This strategic hire comes at a time when Barfresh is actively seeking to secure a new bottle co-manufacturer and continue its expansion in the educational sector by winning significant school accounts.
The information about Matla's appointment and his role within Barfresh is based on a press release statement from the company.
InvestingPro Insights
Barfresh Food Group Inc. (NASDAQ: BRFH) has been making strategic moves in its leadership to strengthen its market position. InvestingPro data provides a deeper look into the company's financial health and market performance, which could be pivotal for investors considering the impact of Matla's appointment on the company's future.
According to real-time data from InvestingPro, Barfresh Food Group Inc. has a market capitalization of 23.55 million USD, indicating its size in the competitive market. Despite challenges, the company has seen a significant return over the last week, with a 55.34% price total return, signaling a positive investor response that could be tied to strategic decisions such as strengthening the supply chain management.
InvestingPro Tips highlight that Barfresh holds more cash than debt on its balance sheet and has liquid assets exceeding short-term obligations. This suggests a solid financial position to support its operational and strategic initiatives like the recent appointment of a new Vice President of Supply Chain & Co-Manufacturing. However, analysts do not expect the company to be profitable this year, reflecting the need for effective management in scaling operations and improving financial performance.
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