JCP Management Enters into Agreement with Innovative Food Holdings
January 30, 2020 at 09:44 pm
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On January 28, 2020, JCP Investment Management, LLC announced that it and Innovative Food Holdings, Inc. entered into an agreement. JCP Management stated that pursuant to the agreement, James C. Pappas and Mark Schmulen were appointed to the Company’s Board of Directors and the Company agreed to nominate the new directors for re-election at the Company’s 2019 annual meeting of shareholders. In addition, JCP Management stated that it withdrew its nomination of director candidates for election to the Board at the 2019 annual meeting and is subject to certain customary standstill restrictions from the date of the agreement until the earlier of the date that is 30 days prior to the deadline for the submission of shareholder nominations for the third annual meeting of shareholders to occur following the date of the agreement or 24 months from the date of the agreement.
Innovative Food Holdings, Inc. provides specialty foods primarily to both Professional Chefs and Home Gourmets through its relationships with producers, growers, makers and distributors of these products. The distribution of its products primarily originates from three unified warehouses and drop ship partners and is driven by its proprietary technology platform. In addition, the Company provide value-added services through its team of food specialists and Chef Advisors offering customer support, menu ideas, and preparation guidance. It distributes over 7,000 perishable and specialty food and food related products, including origin-specific seafood, domestic and imported meats, exotic game and poultry, artisanal cheeses, freshly prepared meals, caviar, wild and cultivated mushrooms, micro-greens, organic farmed and manufactured food products, estate-bottled olive oils and aged vinegars and curated food gift baskets, gift boxes and a full of line of food subscription-based offerings.
INNOVATIVE FOOD HOLDINGS, INC. 
