Barfresh announced it was able to raise a private placement of $1.9 million. Lazarus Investment Partners LLLP was the primary investor in the Private Placement. Lazarus Investment Partners LLLP is a 10-year old investment partnership based in Denver, Colorado that focuses on making long term investment in emerging microcap companies.
The new added capital will allow BRFH to increase their product to meet the growing demand for their product. With the upcoming end of the big restaurant chain trials, BRFH will need to produce more for their blended beverages to fill ALL the restaurant locations.
"We are at the stage of our growth where the ability to build scale and inventory to service both existing and future customers is critical," said Mr. Delle Coste, CEO of BRFH. "There is a large demand among consumers for non-carbonated, healthier, better-for-you beverages that attract a higher dollar value for the operators than a carbonated beverage, and this has been evident in the rapid growth of blended beverages such as smoothies, frappes and shakes. Our products are easily prepared at any restaurant or food service operation in only two steps, thereby offering substantial savings to the operator. Our customers can choose to select our standard flavors or have us develop specific flavors that are proprietary for them," Mr. Delle Coste explained.
Source: Accesswire
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