Recently listed BranchOut Food Inc BOF shares are shooting higher after disclosing its recent contract with retail supergiant Walmart Inc WMT to supply dehydrated fruit items.
Under the terms of the contract, BranchOut Food will supply multiple dehydrated fruit items to 2,250 of the retailer's stores or about 50% of their national locations.
The development comes as BranchOut strengthens its presence in the mainstream retail market and is expected to generate a substantial percent increase in revenue and profitability.
Also, the company is working on a second project to supply several additional items across 100% of Walmart's stores.
"This contract not only represents a significant milestone for our company, but it also highlights the growing demand for our healthy, convenient snacks,” said Eric Healy, CEO of BranchOut Food.
Price Action: BOF shares are trading higher by 28.44% at $5.690 in premarket on the last check Tuesday. BOF closed lower by 26.17% at $4.43 on Friday.
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