This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Innovative Food Holdings Announces Acquisition Of Certain Assets Of The Haley Group LLC

Stocks in this article: IVFH

NAPLES, Fla., March 25, 2013 /PRNewswire/ -- Innovative Food Holdings, Inc. (OTCQB: IVFH), a leading provider of specialty, organic and health food products to the foodservice industry, announced that it has acquired certain assets of Pennsylvania-based, The Haley Group LLC.

The Haley Group functions as an outsourced sales and marketing senior executive team for companies seeking to launch and grow sales of foodservice related products. As one of the key components of its full service sales and marketing program, The Haley Group works closely with companies to access private and manufacturers' label foodservice opportunities, including  the initiation and navigation of the often long and complex process involved in the launch of new products in the broadline foodservice industry.

The CEO and founder of The Haley Group LLC, Lou Haley, a highly regarded, foodservice senior executive with over 27 years of foodservice experience, has joined  Innovative Food Holdings as Senior Vice President of The Haley Group. The Haley Group will operate as a wholly owned subsidiary of Innovative Food Holdings and Mr. Haley will report directly to senior management of Innovative Food Holdings. The transaction was an all-stock transaction and the purchase price was not disclosed.

The Haley Group generates revenues through monthly recurring revenues as well as through percentages of future sales of client company products. Currently, The Haley Group has a strong pipeline of new foodservice products, many of which are expected to launch in the second half of 2013 and the first half of 2014.  As a result of the strong pipeline of products, The Haley Group is expected to contribute to Innovative Food Holdings' net income beginning in the middle of 2013.

Sam Klepfish, CEO of Innovative Food Holdings, commented on the transaction, "Innovative Food Holdings continues to follow a strategy of leveraging its unique position as a leader in the specialty foodservice market to both prudently create and acquire synergistic growth opportunities.  A key benefit of this acquisition is the multitude of synergies involved in leveraging Innovative Food Holdings' position within the foodservice space to further expand The Haley Group's offerings to a variety of new customers, products and new product areas.  As a result, we believe that this acquisition provides Innovative Food Holdings with several new and potentially lucrative high margin revenue opportunities in several new key growth areas."

About Innovative Food Holdings, Inc.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs