Added to YB: 2024-02-19
Pitch date: 2024-02-18
IVFH [bullish]
Innovative Food Holdings, Inc.
-63.04%
current return
Author Info
Company Info
Innovative Food Holdings, Inc., through its subsidiaries, distributes specialty food and food related products to restaurants, hotels, country clubs, national chain accounts, casinos, hospitals, and catering houses in the United States.
Market Cap
$58.1M
Pitch Price
$0.76
Price Target
N/A
Dividend
N/A
EV/EBITDA
52.41
P/E
907.68
EV/Sales
0.88
Sector
Consumer Staples Distribution and Retail
Category
turnaround
My current best idea: Innovation Food Holdings (IVFH)
IVFH: Trades ~5x normalized EV/EBITDA. New CEO (ex-Kroger/Walmart e-comm head) since Mar '23 gutted mgmt, shutting money-losing D2C (lost $12M/5yrs), selling RE for $8-12M net cash to leave debt-free asset-light B2B specialty food platform (10% margins). Aligned board (Gramm, Pappas own 25%). $60M rev → $6M EBITDA; mgmt targets $100M rev/$10M EBITDA. Worth 10x EBITDA rerated. Risk: US Foods = 50% sales.
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