Vital Farms Announces National Foodservice Partnership with Acosta
Acosta named agency of record with focus on expanding Vital Farms’ national foodservice distribution
AUSTIN, Texas, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced pasture-raised foods nationwide, today announced a partnership with Acosta Foodservice, a U.S. foodservice sales and marketing agency in the consumer packaged goods industry. Acosta will represent Vital Farms’ national U.S. foodservice distribution.
“Expanding our foodservice distribution is an important pillar of our growth strategy,” said Peter Pappas, Chief Sales Officer, Vital Farms. “We’ve steadily grown this segment of the business, partnering with operators who source our high-quality, ethical food products and believe our brand resonates with their diners. We look forward to working with Acosta, our first national sales and marketing agency for foodservice, to expand our footprint even further in the commercial and noncommercial foodservice segments in the months and years ahead.”
“We invested in a partnership with Acosta because we see significant opportunity for growth across the foodservice channel, including through increasing our broadline distribution and expanding into more national and regional restaurant chains,” said Russell Diez-Canseco, President and CEO, Vital Farms. "Under Pete's leadership, we are progressing our go-to-market strategy across retail and foodservice. The Vital Farms brand has a differentiated value proposition with consumers, and we are eager to introduce more diners to our high-quality pasture-raised products in partnership with Acosta.”
“We are thrilled to partner with Vital Farms and introduce their honest and ethically produced products to foodservice operators across the country,” said Taylor Crown, President, Acosta Foodservice. “As the leading pasture-raised egg brand in the U.S. by retail dollar sales, Vital Farms has demonstrated that consumers are drawn to the brand’s mission and commitment to transparency. We look forward to sharing the Vital Farms story with more foodservice operators at a time when a growing number of diners seek food selections they can trust.”
The partnership between Vital Farms and Acosta began in January 2021.
About Vital Farms
Vital Farms, a Certified B Corporation, offers a range of ethically produced pasture-raised foods nationwide. Started on a single farm in Austin, Texas, in 2007, Vital Farms is now a national consumer brand that works with over 200 small family farms and is the leading U.S. brand of pasture-raised eggs and butter by retail dollar sales. Vital Farms' ethics are exemplified by its focus on the humane treatment of farm animals and sustainable farming practices. In addition, as a Delaware Public Benefit Corporation, Vital Farms prioritizes the long-term benefits of each of its stakeholders, including farmers and suppliers, customers and consumers, communities and the environment, and crew members and stockholders. Vital Farms' pasture-raised products, including shell eggs, butter, hard-boiled eggs, ghee, egg bites and liquid whole eggs, are sold in approximately 16,000 stores nationwide. For more information, visit www.vitalfarms.com.
Acosta is an integrated sales and marketing services provider that enables consumer packaged goods brands and retailers to win in the modern marketplace by delivering progressive solutions and exceptional service. With more than 90 years of experience, Acosta understands evolving consumer needs and helps its clients and customers stay a step ahead, fueling their accelerated performance. For more information, please visit www.acosta.com.
Forward Looking Statements
This press release contains “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to statements regarding Vital Farms’ anticipated future growth, its partnership with Acosta, and its plans to expand Vital Farms’ commercial and noncommercial foodservice footprint. These forward-looking statements are based on Vital Farms’ current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Vital Farms’ actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement.
The risks and uncertainties referred to above include, but are not limited to: (1) the effects of the current COVID-19 pandemic, or of other global outbreaks of pandemics or contagious diseases or fear of such outbreaks, including on Vital Farms’ supply chain, the demand for Vital Farms’ products, and on overall economic conditions and consumer confidence and spending levels; (2) Vital Farms’ expectations regarding its revenue, expenses and other operating results; (3) Vital Farms’ ability to acquire new customers and successfully retain existing customers; (4) Vital Farms’ ability to attract and retain its suppliers, distributors and co-manufacturers; (5) Vital Farms’ ability to sustain or increase its profitability; (6) Vital Farms’ ability to procure sufficient high quality eggs, butter and other raw materials; (7) real or perceived quality or health issues with Vital Farms’ products or other issues that adversely affect its brand and reputation; (8) changes in the tastes and preferences of Vital Farms’ consumers; (9) the financial condition of, and Vital Farms’ relationships with, its suppliers, co-manufacturers, distributors, retailers and foodservice customers, as well as the health of the foodservice industry generally; (10) the ability of Vital Farms’ suppliers and co-manufacturers to comply with food safety, environmental or other laws or regulations; (11) future investments in Vital Farms’ business, its anticipated capital expenditures and its estimates regarding its capital requirements; (12) the costs and success of Vital Farms’ marketing efforts, and Vital Farms’ ability to promote its brand; (13) Vital Farms’ reliance on key personnel and its ability to identify, recruit and retain skilled personnel; (14) Vital Farms’ ability to effectively manage its growth; (15) Vital Farms’ focus on a specific public benefit purpose and producing a positive effect for society may negatively influence its financial performance; (16) Vital Farms’ ability to compete effectively with existing competitors and new market entrants; (17) the impact of adverse economic conditions; (18) the sufficiency of Vital Farms’ cash to meet its liquidity needs and service its indebtedness; (19) seasonality; and (20) the growth rates of the markets in which Vital Farms competes.
These risks and uncertainties are more fully described in Vital Farms’ filings with the Securities and Exchange Commission, including in the section entitled “Risk Factors” in its quarterly report on Form 10-Q for the fiscal quarter ended September 27, 2020 and other filings and reports that Vital Farms may file from time to time with the SEC. Moreover, Vital Farms operates in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for management to predict all risks, nor can Vital Farms assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements Vital Farms may make. In light of these risks, uncertainties and assumptions, Vital Farms cannot guarantee that the future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Forward-looking statements represent Vital Farms’ beliefs and assumptions only as of the date of this press release. Vital Farms disclaims any obligation to update forward-looking statements except as required by law.