Company Expects Revenue and Gross Profit Contribution in the Second Half of 2024 and Beyond
NEW YORK, Sept. 23, 2024 /PRNewswire/ - Borealis Foods Inc. ("Borealis" or the "Company") (Nasdaq: BRLS), announced today that Woodles®, the beloved noodle brand has successfully expanded distribution into over 4,000 school lunch programs across the United States, offering a nutritious, school-approved, and delicious option for students.
This move marks a significant milestone in the company's mission to bring healthy eating habits to the forefront of the next generation's diet. Borealis Foods's expansion into school nutrition is a significant opportunity for the company as a trusted supplier to schools nationally.
With growing concerns about childhood nutrition and the rising demand for healthy options, Borealis' wholly owned subsidiary Palmetto Gourmet Foods ("PGF") is stepping up to provide schools with convenient, eco-friendly meal solutions that kids love.
Featuring low-sodium, whole-grain rich ingredients, Woodles offer healthy and nutritious noodles to school lunch programs, meeting strict USDA guidelines.
"We're excited to bring Woodles to schools across the nation," said Dr. Reza Soltanzadeh, Founder and CEO of Borealis Foods. "Our goal has always been to make healthy eating tasty, healthy and accessible, and we're proud to help schools meet their nutrition standards while making an impact on students' lifelong eating habits. We are working on expanding this offering across all states as we partner with school chefs to develop 'better-for-you' meals tailored for school programs."
As part of its national expansion, PGF has partnered with major school districts across the country, offering nutritious meals to thousands of students. Following the successful launch of Woodles, ample opportunity remains to continue growing with over 90,000 K-12 schools in the country. This initiative not only educates students about the benefits of whole grains and healthier food choices but also provides schools with the Woodles Protein+ variety. Woodles significantly elevates the taste profile while providing a healthy meal.
"Woodles have been an instant hit in schools nationwide because they not only meet USDA nutrition requirements but are also easy for cafeteria staff to prepare. Most importantly, they delight students who have been wanting healthy, Asian-style noodles in their school lunch programs for years," said Amanda Bot, Vice President of the K-12 Division at PGF. She further stated that, "The enthusiastic response from both schools and foodservice distributors has been remarkable, and the speed at which Woodles have been added to school menus across the country is impressive. School districts are traditionally slow to implement new items, so seeing Woodles gain traction so quickly is a testament to the demand for healthier, student-approved meals that fit seamlessly into existing lunch programs."
Dr. Soltanzadeh added, "This rollout to approximately 4,000 US schools is a significant inflection point for our company. Most immediately, we expect our third and fourth quarter revenues and gross profits to benefit as these institutional channel sales contribute to our results. Just as importantly, this successful rollout confirms our ability to be a trusted partner for leading, national foodservice distributors and we are actively working with them to develop and service additional opportunities such as universities and hospitals."
Benefits for Schools and Families:
- Healthier Meal Options
- Encouraging Lifelong Healthy Habits
- Eco-friendly Offering
- Versatile Menus
The expansion into U.S. schools is just the beginning for Woodles, which has also announced plans to roll out new products and flavors tailored to regional tastes and school requirements.
About Borealis Foods:
Borealis Foods is a forward-thinking food tech company on a mission to address human health, growing consumer needs and global food security challenges by developing highly nutritious functional food products that are flavorful, affordable, and sustainable. The Company's focus on affordability and sustainability reflects its deep commitment to making a positive impact on human health while supporting the well-being of our planet.
For more information on Borealis Foods, please visit https://borealisfoods.com
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SOURCE Borealis Foods, Inc.
