Tattooed Chef leaps on expanded distribution agreement with Walmart

Tattooed Chef

24/08/2022 12:18

** Shares of packaged foods maker Tattooed Chef Inc  TTCF.O 
up ~17% at $7.33 before the bell 
    ** Company expanded distribution agreement with Walmart Inc
 WMT.N  to increase the availability of TTCF-branded products
across the retailer's U.S. stores  urn:newsml:reuters.com:*:nGNX8NfFfc
    ** TTCF will increase the brand's frozen shelf presence from
5 to 13 SKUs (stock-keeping units) and expand the availability
of these 13 SKUs from an average of 300 WMT stores to an average
of 2,000 Walmart stores
    ** Company says initial availability of TTCF's products at
these new WMT locations is expected no later than October 2022
 urn:newsml:reuters.com:*:nFWN2ZZ1DO
    ** TTCF also announces signing and closing of an asset
purchase agreement with Desert Premium Group 
    ** Company expects the operations of this new facility
purchased from Desert Premium Group to be cashflow neutral
through the remainder of 2022 and add to earnings by the start
of 2023
    ** Up to Tuesday's close, stock had fallen ~60% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam
 https://twitter.com/AnanyaMariam;))