“For many companies, their food products may be the only assets they have,” says Marilyn Raybin, President of Marvell Foods. “These food assets cost money to store and are depreciating in value every day,” says Raybin, “we can help companies sell their inventory if they need to generate cash fast.”
BOCA RATON, Fla. (PRWEB) April 15, 2020
“Devastating” - Coronavirus Impact on the Food Industry
"Our phone is ringing non-stop, and we are getting more on-line web submissions daily for buyers and sellers of product than we have in the past ten years from potential customers from all over the country," says Marilyn Raybin, President of Marvell Foods. "The Coronavirus impact on the food industry has been unfathomable," says Raybin, a third-generation executive and national leader in food sales, food brokerage, food trading, and food liquidation.
"Our entire society and way of life is on shaky ground, everyone is fearful, and no one knows what to expect, about anything," says Raybin, whose company has offices from Coast to Coast.
Marvell Foods - (http://www.MarvellFoods.com) A Daily Pulse on the Food Industry - A New Resource for Food Companies
Raybin and her team have a daily pulse on the market, talking to customers all day long, buyers and sellers, manufacturers and retailers, mom and pop operators, as well as the largest companies in the food industry. Here's what Raybin says: "The general emotional state of people and the internal anxiety being experienced by companies, combined with the health crisis and the life and death fear of the deadly contagion, has taken a dramatic toll on the food industry and the supply chain. The shuttering of businesses, unemployment, cutbacks across the board on everything is hollowing out every aspect of the food industry," says Raybin, "people do not know where to go or what to do with what they have, or where to go to find product so they can make whatever it is they produce."
Food Supply Chains Disrupted - “Buyers and Sellers Have Instantly Evaporated”
"People who had well developed, well oiled buy and sell supply chains that were all set up," says Raybin, "all that is gone, and people need help," she says from the corporate office in Boca Raton, Florida. "We are their new lifeline to help them sell and buy to less traditional sources, secondary outlets, to be exact, but the food needs a home and a place to be sold and used, and manufacturers need raw ingredients to make their goods, we help them all in every direction."
"Foodservice, for the most part, is gone," says Raybin. Manufacturers, producers, co-packers, suppliers, cold storage warehouses, truckers, retail stores have all been impacted. Just one example, says Raybin, "With foodservice gone, or at a small fraction of original production, this has completely changed the food services industry ecosystem."
The issues are involved," says Raybin, "when in an instant your buyers, and in many case suppliers, have all but dried up, and those markets where you sold your goods have evaporated, almost in an instant, this has created a gigantic problem. But," says Raybin, "people have to eat, and food still must be produced," and that's where Raybin and her company, Marvell Foods, play a role.
Marvell Foods (http://www.MarvellFoods.com) Delivers New, Alternative Paths to Market for Food Companies
Marvell Foods fits into the equation, in the food ecosystem, in several important ways. First, as an example, for manufactures who sold to "food service" distributors and entities, Marvell Foods is a resource by being able to provide a second tier of buyers. The company's client list developed over nearly thirty years includes a national and international network of buyers (and sellers) in the secondary market, which is where Marvell Foods has earned its stellar national reputation.
Marvell's buyers and sellers include, among other entities, discount stores, big-box discount retail stores, wholesalers, buffet chains, food banks, and even prisons. "The manufacturers and their entire downline of suppliers need to understand that they are going to take a big hit on price," says Raybin, "with storage and warehouses facilities filing with food, running out of space, and unable to move the product to their regular customers, the manufacturers and others sitting with product, some we are told, running cold storage trailers in their parking lots, need to decide if they are going to sit on the product, pay these mounting costs and maybe not even be able to sell any of this product at some point in a completely unknown future," says Raybin. Of course, this is a massive gamble for these companies, says Raybin, and exactly how it will pan out, no one knows. "What we do know is that there is a tremendous log jam in the entire food production industry, and we can help companies big and small," says Raybin.
Food Manufacturers, Companies, Restaurants Can Convert Food Assets to Cash Fast
Raybin points out that, for example, large restaurant chains, and even small restaurant operators, buffets, even hotels, Casinos, and Cruise Lines are sitting on millions and millions of pounds of refrigerated or frozen food, including millions of pounds of frozen vegetables, and canned goods." No one knows how long, or when, any of these companies may be fully operational or when these dormant food products might be used, if ever," says Raybin." Raybin points out that companies sitting on food inventory like this are sitting on assets that become less valuable every passing day. "We can help companies generate much-needed cash with these food assets and get them cash as quickly as possible," says Raybin.
For food companies strapped for cash right now, Marvell Foods can help them move product very fast and minimize losses," says Raybin. In some instances, Raybin can serve as a conduit to a network of food banks and assist in the donation process. "Food banks are under great pressure now, people around the country are lining up for food as no one has ever seen, we can facilitate donations to food banks," says Raybin.
The economic disruption caused by COVID-19 has left many in the food, hospitality - restaurants, bars, hotels, and food services industry, with costly excess of food products and food-related supplies sitting dormant.
ABOUT MARVELL FOODS (In the Time of Coronavirus Crisis - "BCV") http://www.MarvellFoods.com
As one of the industry's leading buyers, brokers, food traders and liquidators of surplus and salvage food products, Marvell Foods can assist your company by helping you sell food, which is losing value by the day, to generate much-needed cash.
In the spirit of pulling together during this crisis, for businesses whose sole assets might be the food you have in storage - refrigerated or frozen foods, canned, or shelf-stable products, we will work diligently to help you sell any of your inventory quickly for the best prices possible to provide you with cash to maintain your business best.
In addition to our unique national and international network of buyers, including food banks, the federal prison system, pet food manufacturers, and export, we specialize in finding buyers for either unsold or unsellable products. This crisis has put profound pressure on the food supply chain. As a multi-generational company with more than thirty years in the food business, Marvell Foods is in a unique position to help companies who find themselves in a financially distressed situation to quickly sell products at the best prices possible, as fast as possible.
If you are a food manufacturer, supplier, co-packer, distributor, or other food-related organization impacted by the coronavirus pandemic, we will do our best to be of service to you. Please contact us today to learn more. You can call us right now at 561-213-2289 OR, use our web form on the site – see the link.
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