Tattooed Chef Reports Record Preliminary Revenue for the Six Months Ended June 30, 2020
July 27, 2020 08:01 ET | Source: Forum Merger II Corporation
Tattooed Chef Year to Date Revenue for the Six Month Period Ended June 30, 2020 Increased 97% Over the Prior Year Period to a Record $65.2 Million
Business Combination with Forum Merger II Continues On Track
Paramount, California and Delray Beach, Florida, July 27, 2020 (GLOBE NEWSWIRE) -- Ittella International, a plant-based food company with a broad portfolio of innovative products available both in private label and the “Tattooed Chef” brand (“Tattooed Chef”), today reported preliminary revenue for the six-month period ended June 30, 2020 of $65.2 million, a 96% increase over the prior year comparative period. The Company’s strong Q1 revenue of $33.2 million, a 95% increase over Q1 2019, was followed by an estimated Q2 revenue of $32.0 million, a 96% increase over Q2 2019.
As previously announced, Tattooed Chef and Forum Merger II Corporation (Nasdaq: FMCI) (“Forum”), a special purpose acquisition company, have entered into a definitive agreement (the “Business Combination Agreement”) for a business combination that will introduce Tattooed Chef as a Nasdaq-listed public company.
"Our outstanding six-month revenue is a testament to our ability to continue executing on our vision and business plan to build Tattooed Chef," said Sam Galletti, President and CEO of Tattooed Chef. “Our products tap into the growing consumer demand for plant-based food products, and we look forward to taking advantage of the benefits we expect from becoming a public company.”
“Tattooed Chef’s preliminary second quarter results underscore our confidence in the business and its strong growth potential,” said David Boris, Co-CEO and CFO of Forum. “We are continuing to work with Tattooed Chef towards closing the transaction as soon as possible.”