Food purveyor's sales jump 94%, but loss is nearly $2M

BONITA SPRINGS — Innovative Food Holdings says quarterly sales rose 94% following a large acquisition last summer.

Innovative Food Holdings, which distributes specialty foods to thousands of chefs and restaurants nationwide, acquired The Fresh Diet last summer. The Fresh Diet delivers freshly prepared meals to consumers in 44 metropolitan areas.

Innovative Food's revenues nearly doubled in the quarter ending June 30 to $12.5 million. “The increase was primarily due to revenue from The Fresh Diet, which was acquired on Aug. 15, 2014 and contributed approximately $4.9 million of revenue during the quarter,” the company says in a statement.

The Bonita Springs-based company reported a net loss of nearly $2 million in the most recent quarter compared with $400,000 of net income in the same quarter one year ago. The company says some of those losses are due to expenses related to the acquisition of The Fresh Diet.