FORT WORTH, TX / ACCESSWIRE / June 22, 2023 / Muscle Maker, Inc. (NASDAQ:GRIL), (the “Company” or “MMI”), is pleased to announce that its subsidiary, Sadot LLC (“Sadot”), has expanded its agri-commodity sourcing and trading operations into North, Central and South America, further diversifying the Company’s geographic reach beyond its existing operations in Europe, Asia, the Middle East and Africa.
The expansion was facilitated by a strategic agreement between Sadot’s agri-food operations and newly-formed Buenaventura Trading LLC (“Buenaventura”) based in Miami FL. Buenaventura’s team brings a wealth of experience and exposure to new trade routes throughout the Americas by adding multiple sourcing and trading consultants to Sadot with backgrounds from several of the largest international food supply chain organizations.
In order to support the expansion into the Americas and our agreement with Buenaventura, Sadot LLC has formed a new subsidiary, Sadot Latam LLC. This agreement marks a significant milestone for Sadot as it provides access to new trade routes originating in North America to markets in Central and South America. The planned Americas trade routes are intended to generate accretive value for the Company by tapping into the thriving market demand for agricultural products across Central and South America. This planned expansion is expected to further enhance Sadot’s position as an emerging entity in the global commodity trading industry.
“Expanding and diversifying our trade routes to include transactions in the Americas aligns perfectly with our growth strategy,” said Michael Roper, MMI’s CEO. “We believe this collaboration with Buenaventura Trading and its team of experienced consultants will not only enhance our market presence but also enable us to deliver greater value to our customers and stakeholders. As we establish new relationships and new geographies, we anticipate the ability to continue to scale our revenues.”
The expansion into North, Central and South America positions Sadot and MMI for continued growth as the Company grows its global supply chain business. With a strengthened trade network spanning the Americas, Sadot is well-positioned to pursue its goal of seizing market opportunities and delivering increased growth for the Company and its shareholders.
About Muscle Maker, Inc. (“MMI”)
MMI is an emerging player in the global food supply chain sector. MMI and its agri-foods subsidiary, Sadot LLC, connect producers and consumers across the globe, delivering agri-commodities from producing geographies such as the Americas, Africa and the Black Sea to consumer markets in Southeast Asia, China and the Middle East/North Africa (MENA) region.
MMI and Sadot currently operate within two verticals of the global food supply chain including 1) global agri-commodity sourcing and trading operations for food/feed products such as soybean meal, wheat and corn and 2) food service operations with more than 50 restaurants across the U.S
MMI and Sadot continue to grow in size, diversity of operations, as well as in human and financial capital, but the principles that guided the Company remain the same – sourcing and providing healthier foods. The Company is headquartered in Ft. Worth, Texas with offices and operations in the U.S., Dubai, Israel, Singapore, Ukraine, and Zambia. For more information please visit www.musclemakerinc.com.
This press release may include “forward-looking statements” pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products, or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc., does not undertake any duty to update any forward-looking statements except as may be required by law.
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SOURCE: Muscle Maker, Inc.