"We are extremely pleased to have been selected by Boston Market, one of the leading brands in the grocery channel,” said James Rudis, chairman and CEO of Overhill Farms. “This is a very significant event for Overhill Farms."
"The Boston Market brand has been a consistently strong performer in the retail channel over the past 10 years” added George Michel, CEO of Boston Market Corporation. “Our long-term agreement with Overhill Farms will allow us to continue to offer consumers the quality, flavor, convenience and value they associate with the Boston Market brand, and gives us the opportunity to expand and enhance our product offerings. We are particularly impressed with Overhill Farms' breadth of experience in the frozen category, and the strength of their culinary abilities."
The five-year agreement has options for two additional five-year renewals and is effective July 1, 2011. Until that time, Boston Market products will continue to be produced by the current licensee. Rudis said the agreement with Boston Market is royalty-based, and does not require an initial investment upon contract execution.
Overhill Farms will immediately begin working with Boston Market, Rudis said, and will work with retailers on pricing, marketing and promotion plans to maximize sales.
"In addition to the opportunities this agreement creates, we think it also positions Overhill Farms to seek additional non-competing brand licenses," Rudis said.
Overhill Farms Inc. is a leading value-added supplier of custom, high-quality prepared frozen foods for branded retail, private-label foodservice and airline customers. Its product line includes entrées, plated meals, bulk-packed meal components, pastas, soups, sauces, poultry, meat and fish specialties, as well as organic and vegetarian offerings.
Boston Market Corporation, based in Golden, Colo., offers fresh, home-style meals in more than 490 locations from coast to coast.