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MIAMI - Blue Star Foods Corp. (OTCQB:BSFC) announced Wednesday it has formed a strategic national partnership with KeHE Distributors and launched its new 6-ounce crab meat pouch product through KeHE’s distribution network. The company, currently valued at $660,000 in market capitalization, has seen its revenue decline by 34% over the last twelve months to $3.5 million.
The partnership gives Blue Star access to KeHE’s 18 distribution centers and over 31,000 retail and online outlets across the United States. KeHE specializes in distributing natural, organic, specialty, and fresh products. According to InvestingPro data, analysts anticipate sales growth of 5.2% for Blue Star Foods in the current fiscal year, though the company faces significant operational challenges.
"Partnering with KeHE is a pivotal move in our growth strategy," said John Keeler, CEO of Blue Star Foods, according to the company’s press release.
The newly launched 6-ounce crab meat pouch contains fully cooked and pasteurized wild-caught blue swimming crab. The product features a refrigerated format with extended shelf life and is marketed as keto-friendly with less than 2 grams of carbohydrates per serving.
Blue Star is offering promotional incentives for the product launch, including 50% off Manufacturers Charge Back for retailers ordering through KeHE and a buy-one-get-one offer for direct consumer purchases while supplies last.
The company stated its crab meat pouch uses Eco-Fresh packaging, which it claims reduces energy use, greenhouse gas emissions, and transportation footprint compared to traditional packaging options.
Blue Star Foods, based in Miami, describes itself as a sustainable seafood company focused on Recirculatory Aquaculture Systems technology. The company operates what it calls the oldest continuously operating RAS full grow-out salmon farm in North America.
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