Site Visits in Chicago: Meeting with Innovative Food Holdings (IVFH) & Ascent Industries (ACNT)
Disclaimer: This is not investment advice and meant for entertainment purposes only, I hold a positions in the discussed companies and therefore may be biased in my opinion. Please be aware that this is an illiquid microcap, please only buy and sell with a limit-order.
“We are not a food company; we are a technology company,” Bill Bennett emphasized to me over lunch. By that point, I had already toured their warehouse in Chicago. It's impressive they generate around $20 million from this modest facility, driven partly by their drop-ship model, which lies at the heart of their business.
In Chicago, revenue is evenly split: 50% from local customers and 50% from national clients. This balance allows Innovative Food Holdings (IVFH) to maximize asset utilization. One small day-to-day example: Unlike typical specialty food service distributors, who often have downtime for cleaning and maintenance after local deliveries, Innovative Food Holdings efficiently uses this time to prepare national shipments via FedEx.