SECAUCUS, N.J., Feb. 25, 2020 (GLOBE NEWSWIRE) — Freshpet, Inc. (“Freshpet” or the “Company”) (NASDAQ: FRPT) today held an Investor Day where it outlined its updated strategic plan, “Feed the Growth: 5 by the end of 2025.” The plan calls for continuing Freshpet’s strong growth by increasing its U.S. household penetration from 3 million households in 2019 to 8 million households by the end of 2025. In doing so, the Company expects to generate $1 billion in net sales in 2025.
The Company also announced:A nearly tripling in its estimate of the Total Addressable Market since it last calculated an estimate in late 2016. The Company now believes that there are 20 million Prime Prospects for Freshpet versus 7.5 million in 2016.Its intention to build the largest Freshpet Kitchen in Ennis, Texas. The first phase of the facility will be approximately 400,000 square feet and is expected to open in 2022. A second phase will increase the size of the facility to approximately 600,000 square feet and the total site would then employ more than 400 people. In combination with the current Freshpet Kitchens in Bethlehem, PA, the total Freshpet capacity would exceed $1 billion in net sales when fully constructed. The launch of some innovative new products, including a food offering for dogs with Sensitive Skin and Stomachs.How it will create and leverage financial and strategic advantages through the increased scale of the business.How it is addressing its responsibility to the environment as part of its Pets. People. Planet. Initiative. Its net sales and earnings guidance for 2020. The Company intends to invest in incremental marketing support, organizational capability and capacity expansion efforts in 2020 in order to fulfill the potential of Freshpet and its mission of changing the way people feed their pets forever. Investor Day & Earnings Presentation Webcast Information
As previously announced, Freshpet will host a webcast and presentation at 8:00 a.m. ET with members of the leadership team to discuss this information along with its fourth quarter and full year 2019 financial results.Please visit the “Investors” section of Freshpet’s website at www.freshpet.com to access the live webcast and presentation. The webcast will be available in listen-only mode and will be archived online through March 24, 2020.About Freshpet
Freshpet’s mission is to improve the lives of dogs and cats through the power of fresh, real food. Freshpet foods are blends of fresh meats, vegetables and fruits farmed locally and made at our Kitchens in Bethlehem PA. We thoughtfully prepare our foods using natural ingredients, cooking them in small batches at lower temperatures to preserve the natural goodness of the ingredients. Freshpet foods and treats are kept refrigerated from the moment they are made until they arrive at Freshpet Fridges in your local market.Our foods are available in select mass, grocery (including online), natural food, club, and pet specialty retailers across the United States, Canada and Europe. From the care, we take to source our ingredients and make our food, to the moment it reaches your home, our integrity, transparency and social responsibility are the way we like to run our business. To learn more, visit www.freshpet.com.Connect with Freshpet:https://www.facebook.com/Freshpethttps://twitter.com/Freshpethttp://instagram.com/Freshpethttp://pinterest.com/Freshpethttps://plus.google.com/+Freshpethttps://en.wikipedia.org/wiki/Freshpethttps://www.youtube.com/user/freshpet400Forward Looking StatementsCertain statements in this release constitute “forward-looking” statements. These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Freshpet believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results. There are several risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, most prominently, the risks discussed under the heading “Risk Factors” in the Company’s latest annual report on Form 10-K filed with the Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release. Freshpet undertakes no obligation to publicly update or revise any forward-looking statement because of new information, future events or otherwise, except as otherwise required by law. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements.CONTACT
ICR
Katie Turner
646-277-1228
[email protected]
Bay Street News
