MamaMancini’s Holdings, Inc. Announces Operational Improvement Initiatives

Company Engages Consulting Agency, 15/16 Group, to Increase Plant Efficiency, Add Capacity and Increase MarginsEAST RUTHERFORD, NJ, Feb. 27, 2020 (GLOBE NEWSWIRE) — MamaMancini’s Holdings, Inc. (OTCQB: MMMB), a marketer of specialty pre-prepared, frozen and refrigerated food products, has announced a new initiative to review, assess and improve firm-wide operational and manufacturing plant efficiencies through a comprehensive effort, inclusive of the engagement of renowned industry consulting agency 15/16 Group.The ongoing efficiency studies with 15/16 Group are seeking to streamline and accelerate MamaMancini’s operations, particularly in its manufacturing plant, where several initial opportunities exist to improve operational efficiency and throughput using the same labor and facility utilized today. Through this engagement, the Company will create a dashboard of Key Performance Indicators (KPIs) to improve the visibility of plant floor performance.Concurrent with these efforts, MamaManicini’s is installing an additional holding freezer, new packaging equipment and designing an improved, more efficient loading dock to notably increase throughput with the same labor inputs used today. Capital expenditures associated with these efforts are expected to be nominal and principally financed through the Company’s existing bank line.In addition to the comprehensive firm-wide operational efficiency improvements, MamaMancini’s will begin a methodical, controlled overhaul of its software and controls with Oracle Net Suite, a suite of cloud-based financials, Enterprise Resource Planning (ERP) and omnichannel commerce software. The implementation of the changeover began in November 2019 and is expected to be completed later in 2020. Net Suite has been successfully utilized as an emerging industry-standard with other food manufacturers for management of raw material procurement, inventory management, production scheduling, forecasting and control of packaging material.“We are a committed to improving our operations wherever possible, realizing any and all identified efficiencies to improve our profitability,” said Carl Wolf, Chairman and Chief Executive Officer of MamaMancini’s. “We remain committed to aggressive sales growth in 2020 and creating sustainable, long-term value for our shareholders.”About MamaMancini’s Holdings, Inc.
MamaMancini’s Holdings, Inc. (OTCQB: MMMB) is a marketer and distributor of specialty prepared, refrigerated and frozen all-natural Italian foods. MamaMancini’s product portfolio consists of over 20 products including meatballs, meat loaf, chicken parmesan, sausages and dinner kits, with beef, turkey, chicken and pork varieties. The Company’s products are sold in over 45,000 locations nationwide, including at well-known retailers such as Walmart, Kroger, Publix, Costco and Albertsons, as well as through national distributors such as Sysco and United Natural Foods. The Company has a major presence on QVC, the largest direct to consumer marketer in the world. For more information, please visit www.mamamancinis.com.Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company’s 10-K for the fiscal year ended January 31, 2019 and other filings made by the Company with the Securities and Exchange Commission.Investor Relations:
Greg Falesnik
Managing Director
MZ Group – MZ North America
(949) 385-6449
[email protected]
www.mzgroup.us
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