Overhill Farms Inc has been chosen as the exclusive licensee of the Boston Market brand of retail frozen foods, which are sold in most major grocery chains nationwide. As part of the agreement, Overhill Farms will assume responsibility for manufacturing, distribution, and marketing of Boston Market frozen meals, gravies, and other products.
James Rudis, chairman and chief executive officer of Overhill Farms, said, “This is a very significant event for Overhill Farms. We have the opportunity to take a premier brand with a proven track record of sales, and grow that brand with product innovations and strategic pricing.”
The agreement has a five-year term with options for two additional five-year renewals and is effective July 1, 2011. Until then, 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 and will work with retailers on pricing, marketing, and promotion plans.
“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 supplies prepared frozen foods for branded retail, private label foodservice, and airline customers. Its product line includes entrees, plated meals, bulk-packed meal components, pastas, soups, sauces, poultry, meat and fish specialties, as well as organic and vegetarian offerings. Its customers include Jenny Craig Inc, Safeway Inc, Panda Restaurant Group Inc, Pinnacle Foods Group LLC, and American Airlines Inc. Visit www.OverhillFarms.com for more information.
Golden CO-based Boston Market offers fresh, home-style meals in more than 490 locations from coast to coast.