Innovative Food Holdings Announces it is Exiting the Cheese Conversion Business, Entering Agreement to Sell Pennsylvania Facility, and Relocating Remaining Profitable Operations to Chicago Facility

Innovative Food Holdings Announces it is Exiting the Cheese Conversion Business, Entering Agreement to Sell Pennsylvania Facility, and Relocating Remaining Profitable Operations to Chicago Facility

Benzinga
August 1, 2025

BROADVIEW, Ill., Aug. 01, 2025 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB:IVFH) ("IVFH" or the "Company"), a national seller of gourmet specialty foods to professional chefs, today announced a strategic decision to exit its cheese conversion business, sell its Pennsylvania warehouse, and relocate its remaining profitable operations to Chicago.

IVFH has entered into a definitive agreement to sell its Pennsylvania warehouse. The transaction is expected to close by September 30, 2025 and will eliminate approximately $9 million in debt, making the Company virtually debt-free. The deal was reached after an 18-month marketing process by our real estate partner, CBRE, and vetting multiple offers and deal structures.

Following the sale, IVFH will relocate its remaining profitable Pennsylvania operations—primarily its airline and broadline distribution businesses—to its Chicago facility. These operations will be combined with Artisan Specialty Foods, enabling the Company to leverage operational, supplier, and inventory synergies.

The combined effect of these strategic moves (exiting the cheese conversion business, selling the building, and relocating the remaining profitable business to Chicago) would have improved trailing twelve month pre-tax income by approximately $2 million.

Bill Bennett commented, "While the cheese conversion business showed promise, ultimately we determined it would not quickly enough reach a scale that would generate cash flow. Today's ...

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