SWFL gourmet company sells nearly $700K in cheese

Innovative Food Holdings, a Bonita Springs national seller of gourmet specialty foods to professional chefs, has announced it has shipped its largest purchase in the company’s history: $676,000 of gourmet cheese. 

The order, according to a statement, is with an unnamed “newly established partnership with a top 10 U.S. retailer.” 

The order also represented an acceleration of approximately 20 times compared to the company’s cheese production rates two weeks ago, the Oct. 23 statement adds. “The scale and complexity of this order highlight the strength of IVFH's operational capabilities and its commitment to delivering premium products at scale,” the release states. “To meet the demands of this partnership, IVFH recently installed four new high-efficiency packaging machines. This marks a significant expansion of the company’s operational infrastructure.”

The company expects substantial revenue growth throughout the fourth quarter from the client and, “due to startup costs associated with the expansion,” it expects profits from this partnership to begin materializing in early 2025.

"This is an exciting time for our company as we expand into the retail market,” Innovative Food Holdings CEO Bill Bennett says in the statement. “The size and scale of this order speak to the tremendous opportunity ahead, and we are confident that our investments in people, infrastructure, and technology will continue to drive long-term value for our shareholders."

Innovative Food Holdings had $72.21 million in revenue in 2023, down -9.26% from $78.9 million in 2022. The company is publicly traded over the counter (symbol: IVFH).