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HF Foods Group Announces Agreement to Acquire Chicago Distribution Facility
Globenewswire· 2025-09-29 12:00
Core Viewpoint - HF Foods Group Inc. has entered into a binding purchase agreement for a distribution facility in Chicago, which is expected to enhance operational efficiency, reduce costs, and support long-term growth [1][2][3] Group 1: Acquisition Details - The acquisition allows HF Foods to exit an existing lease early, improve operating expenses, and invest in the facility to increase capacity and drive consolidation opportunities [2][3] - The facility has been a key part of HF Foods' Midwest distribution strategy, and the company plans to expand its presence in the region over the coming years [3] Group 2: Financial Strategy - HF Foods has established an At-the-Market (ATM) equity offering program to provide liquidity for capital expenditures, acquisitions, and business expansion [1][2] - The ATM program is expected to enhance financial flexibility, enabling the company to pursue similar acquisitions in the future [3] Group 3: Market Positioning - The acquisition is part of HF Foods' ongoing transformation plan aimed at improving operational efficiency and strengthening organic growth through cross-selling opportunities [2][3] - The company aims to deepen its commitment to the Chicago region, which is expected to yield long-term benefits for local restaurant customers by improving operational control and logistics [3] Group 4: Company Overview - HF Foods Group Inc. is a leading distributor of foodservice solutions primarily to Asian restaurants across the United States, leveraging a nationwide network of distribution centers [4]
HF Foods Group Inc. Announces $100 Million At-The-Market (ATM) Equity Offering Program
Globenewswire· 2025-09-25 20:45
Core Viewpoint - HF Foods Group Inc. has launched an At-The-Market (ATM) equity offering program to sell shares of its common stock for gross proceeds of up to $100 million [1][2]. Group 1: Equity Offering Details - The ATM program will allow HF Foods to sell shares through D.A. Davidson & Co. and Roth Capital Partners as sales agents [1]. - The proceeds from the ATM program will primarily be used for general corporate purposes, including working capital, capital expenditures, and potential acquisitions or business expansion [2]. Group 2: Company Overview - HF Foods Group Inc. is a prominent distributor of fresh produce, frozen and dry food, and non-food products, primarily serving Asian restaurants and foodservice customers across the United States [5]. - The company aims to meet the growing demand for Asian American cuisine by leveraging its distribution network and strong relationships with suppliers in the US, South America, and Asia [5].
HF Foods to Participate in the A.G.P. Consumer Showcase
Globenewswire· 2025-08-18 20:05
Company Overview - HF Foods Group Inc. is a leading distributor of international foodservice solutions, primarily serving Asian restaurants and other businesses across the United States [2] - The company specializes in fresh produce, frozen and dry food, and non-food products, aiming to meet the growing demand for Asian American cuisine [2] - HF Foods operates a nationwide network of distribution centers and maintains strong relationships with growers and suppliers in both the US and Asia [2] Upcoming Events - HF Foods will participate in the virtual A.G.P. Consumer Showcase on August 21, 2025, where the executive management team will host a fireside chat at 3:00 p.m. ET [1] - The fireside chat will be webcast live and available for replay on the company's Investor Relations website [1]
HF Foods Reports Second Quarter 2025 Financial Results
Globenewswire· 2025-08-11 20:05
Core Insights - HF Foods Group Inc. reported record net revenue and gross profit for the second quarter of 2025, reflecting the success of its transformation initiatives and strategic priorities [3][4][10] Financial Performance - Net revenue for Q2 2025 was $314.9 million, an increase of $12.5 million or 4.1% from $302.3 million in Q2 2024, driven by volume increases and improved pricing in Meat & Poultry and Seafood [4][10] - Gross profit rose to $55.1 million, up $2.7 million or 5.1% from $52.5 million in the prior year, with a gross profit margin increase to 17.5% from 17.4% [5][10] - Net income surged 117.0% to $0.5 million compared to $0.2 million in the same quarter last year, primarily due to an increase in income from operations [7][10] - Adjusted EBITDA increased by 31.1% to $13.8 million from $10.6 million in the prior year [8][10] Expense Management - Distribution, selling, and administrative expenses rose by $1.2 million or 2.4%, but as a percentage of net revenue, they decreased from 16.5% to 16.2% due to higher net revenue and lower professional fees [6][10] Cash Flow and Liquidity - Cash provided by operating activities was $10.5 million for the first half of 2025, significantly up from $1.9 million in the same period last year, attributed to an increase in non-cash expense add-backs [11][10] - As of June 30, 2025, the company had cash of $15.7 million and access to approximately $57.8 million in additional funds through a line of credit [11][10] Strategic Outlook - The company is focused on expanding its geographic footprint and enhancing product capabilities through strategic investments and potential M&A opportunities [3][10]
HF Foods to Report First Quarter 2025 Results on May 12, 2025
Globenewswire· 2025-05-05 20:38
Core Viewpoint - HF Foods Group Inc. is set to report its financial results for the first quarter of 2025 on May 12, 2025, after market close, highlighting its ongoing operations and performance in the foodservice distribution sector [1]. Company Overview - HF Foods Group Inc. is a prominent distributor of fresh produce, frozen and dry food, and non-food products, primarily serving Asian restaurants and other foodservice customers across the United States [3]. - The company aims to meet the growing demand for Asian American cuisine by utilizing its extensive network of distribution centers and strong relationships with growers and suppliers in both the US and Asia [3]. - HF Foods is headquartered in Las Vegas, Nevada, and trades on Nasdaq under the symbol "HFFG" [3].