Better Choice Showing Opportunity for Substantial Monetary Savings from Consolidation of Fulfillment Operations
Achieving lower costs, while increasing capacity
NEW YORK, Dec. 01, 2020 (GLOBE NEWSWIRE) — Better Choice Company (OTCQB: BTTR) (“Better Choice”), an animal health and wellness company is pleased to announce that it has identified an additional ~$330,000 of annualized synergistic savings via the consolidation our warehouse and fulfilment operations to a third party logistics facility located just outside of Nashville, TN. The consolidation was finalized in October 2020. During the nine months ended September 30, 2020, Better Choice reported $274,000 of synergistic savings related to the consolidation of warehouse and fulfillment operations, reflecting savings that would have been achieved had the consolidation taken place as of January 1, 2020.
Michael Young, Chairman of Better Choice, stated, “In direct correlation to our overall growth strategy which includes both organic growth of our top selling existing brands Halo and Tru-Pet, as well as growth by acquisitions, our team quickly recognized and acted on the need for consolidation. This was accomplished through the economies of scale of bringing the distribution of the brands together while positioning for greater overall capacity.” Mr. Young continued, “We are extremely pleased with the potential to reinvest these savings into our high growth areas such as Asia and Direct to Consumer in order to further stimulate our growth.”
About Better Choice Company, Inc.
Better Choice Company Inc. is a rapidly growing animal health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier and longer lives. We take an alternative, nutrition-based approach to animal health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted animal health and wellness products and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell the majority of our dog food, cat food and treats under the Halo and TruDog brands, which are focused, respectively, on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet dog food and treats. For more information, please visit https://www.betterchoicecompany.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Company Contact:
Better Choice Company, Inc.
Werner von Pein, CEO
Investor Contact:
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com
