MamaMancini's Holdings, Inc., a marketer of specialty pre-prepared, frozen and refrigerated food products, has engaged B. Riley Securities, a full-service investment bank and broker-dealer and subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), to assist in the exploration and evaluation of strategic alternatives for enhancing shareholder value.
These alternatives could include, among others, a sale of the company, a strategic business acquisition, continued execution of the Company’s business plan or some combination of one or more of these possible alternatives.
“Over the past year, we’ve enjoyed great success with record-breaking revenue and net income, firm-wide operational improvements and increased manufacturing plant efficiency,” says Carl Wolf, Chairman and Chief Executive Officer of MamaMancini’s. “That being said, we believe the market valuation of our Company has maintained below that of industry fair value. As our business continues to see robust growth by all metrics, we believe our current market valuation presents the potential for notable upside.
“Given this, we have engaged B. Riley Securities to begin the process of exploring a possible sale of the Company along with other potential strategic alternatives. I have seen notable success in my career in growing and selling successful food brands and believe MamaMancini’s is no different, representing an extremely attractive asset for various industry players given the Company’s vast distribution, widely beloved product portfolio and immense growth potential.
“While there can naturally be no assurances this process will result in a transaction, we believe this path will help achieve our ultimate goal of maximizing value for our shareholders. I look forward to working closely with the B. Riley team to achieve the strategic objectives we have laid out,” concluded Wolf.
News and information presented in this release has not been corroborated by FSR, Food News Media, or Journalistic, Inc.