Recently listed BranchOut Food Inc (NASDAQ:BOF) shares are shooting higher after disclosing its recent contract with retail supergiant Walmart Inc (NYSE: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.
