Igourmet: Innovative Food Holdings, Inc. Announces Close of the Sale of igourmet.com Business

BONITA SPRINGS, Fla., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB:IVFH) ("IVFH" or the "Company"), a national seller of gourmet specialty foods to professional chefs, announced today the close of a transaction to sell its consumer e-commerce business igourmet.com for $700,000 in cash ($175,000 of which is due 30 days after closing), plus the assumption of approximately $350,000 of gift card liabilities. The Company's Pennsylvania facility is not included in the transaction. Acting as sell-side advisors on the transaction were Sampford Advisors, Inc. and Erben M&A Advisors.Chief Executive Officer Bill Bennett stated, "With today's announcement, we mark continued progress against our strategic stabilization plan of selling off assets that are not a fit for our larger scale, more profitable foodservice business, as first discussed in our November 2023 earnings call. The ...Full story available on Benzinga.com