Sadot Group Announces Sale of Superfit Foods

FORT WORTH, TX / ACCESSWIRE / August 6, 2024 / Sadot Group Inc. (NASDAQ:SDOT) ("Sadot" or the "Company") today announced the sale of one of its restaurant assets, Superfit Foods LLC, a subscription-based meal prep concept located in Orange Park, FL, servicing the Jacksonville market.

Michael Roper, CEO of Sadot Group, stated, "We are pleased to announce the sale of Superfit Foods LLC, an important step in our portfolio optimization plan to focus on our strategically advantaged businesses of agri-commodity origination, trading, shipping, and farming. This transaction is the first of three restaurant concepts to be sold from our portfolio and is the first step in our plan to exit the restaurant business. We expect that the divestment of these non-core assets will drive operational savings and simplification along with ensuring our resources are firmly aligned around the highest potential opportunities."

Additionally, as part of the optimization plan, Sadot announced that it has refranchised its final company-owned Muscle Maker Grill (MMG) location in Bronx, NY, thereby lowering corporate G&A expenses and generating royalties for the restaurant division. As a result, the MMG restaurant concept, being a fully franchised concept, is now positioned to potentially attract a wider audience base of interested parties. The Company continues to pursue the divestiture of Muscle Maker Grill along with its 39-unit Pokemoto chain.

About Sadot Group Inc.

Sadot Group Inc. has rapidly established itself as an emerging player in the global food supply chain. Sadot Group provides innovative and sustainable supply chain solutions that address the world's growing food security challenges.

Sadot Group currently operates within key verticals of the global food supply chain including global agri-commodity origination and trading operations for food/feed products such as soybean meal, wheat and corn, and farm operations producing grains and tree crops in Southern Africa.

Sadot Group connects producers and consumers across the globe, sourcing agri-commodity products from producing geographies such as the Americas, Africa and the Black Sea and delivering to markets in Central and South America, Southeast Asia, China and the Middle East/North Africa region.

Sadot Group is headquartered in Ft. Worth, Texas with subsidiary operations in Miami, Dubai, Curitiba (Brazil), Singapore, Kyiv, Toronto and Zambia. For more information, please visit www.sadotgroupinc.com.

For additional updates, news and general knowledge related to the global Agri-commodity supply-chain, please visit our website at: www.sadotgroupinc.com and our social media postings on Facebook and X (Twitter).

Forward-Looking Statements

This press release may include "forward-looking statements" pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products, or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as "should", "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," and "proposes." Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Sadot Group, Inc., does not undertake any duty to update any forward-looking statements except as may be required by law.

Investor Relations:
Frank Pogubila
SVP, Integrous Communications
W - 951.946.5288
E - IR@sadotco.com

SOURCE: Sadot Group Inc.