Stock Update (NYSE:ANFI): Amira Nature Foods Ltd Announces New Partnership to Expand Amira Sales in Specialty, Natural and Organic Channels
Amira Nature Foods Ltd (NYSE:ANFI), a leading global provider of packaged Indian specialty rice, announced today it has entered into an agreement with KeHE Distributors, LLC (KeHE) to distribute Amira products in the United States. KeHE provides Natural & Organic, Specialty and Fresh Products to natural food stores, chain grocery stores, independent grocery stores and other specialty product retailers throughout North America.
According to SPINS insights and analytics, sales of natural and organic products are expected to reach more than $100 billion in the US with a growing number of retailers increasing product selection to meet consumer demand.
“We are excited to begin our partnership with KeHE, as we look to bring healthy and better-for-you products to natural, organic and specialty stores across the United States,” said Karan A Chanana, Chairman and CEO. “The addition of KeHE complements our existing distribution strategy in the United States, which already includes relationships with National Sales Associates, UNFI and Whole Foods in this very important channel.” (Original Source)
Shares of Amira Nature Foods closed yesterday at $5.22. ANFI has a 1-year high of $17.98 and a 1-year low of $2.51. The stock’s 50-day moving average is $4.64 and its 200-day moving average is $8.80.
On the ratings front, Oppenheimer analyst Rupesh Parikh maintained a Buy rating on ANFI, in a report issued on August 3. According to TipRanks.com, Parikh has a total average return of 4.6%, a 60.2% success rate, and is ranked #832 out of 3775 analysts.
Amira Nature Foods Ltd is a provider of packaged Indian specialty rice, with sales in over 60 countries. It also sell other products such as wheat, barley and legumes.