BRB Foods Inc., (the “Company” or “BRBF”) is a manufacturer and distributor of dry food products sold under name brands licensed from Unilever Brasil Ltda, Unilever IP Holdings B.V., Mae Terra Produtos Naturais Ltda, and Conopco, Inc. d/b/a Unilever. (Incorporated in Wyoming)

Our company specializes in the entire process of acquiring, processing, manufacturing, selling and packaging high-quality dry food products that are distributed to and marketed at major retailers and food service establishments throughout Brazil. We employ sales personnel who prepare retail displays at the physical locations of products’ sales, also known as the Point of Sale. We generated total sales of approximately $10.1 million and $14.6 million during our fiscal years ended December 31, 2023, and 2022, respectively.

Our product portfolio includes a wide range of dry food products such as pasta, rice, beans, corn, cassava, potato, snacks, and other dry food items that are produced under strict quality guidelines and procedures. Our most popular brand products include Knorr, Arisco, Maizena and Mãe Terra.

We are committed to sustainability and responsible sourcing. We work with local farmers and suppliers to ensure that our raw materials are ethically sourced and sustainably produced. Our production processes are designed to minimize waste and reduce our environmental impact. Since the beginning of activities in 2020, we have always been very clear that the entire approval process would be based on the pillars of the environmental, social, and corporate governance (“ESG”) philosophy, focusing on food safety, quality associated with excellence and tradition of brands and work safety, in addition to strict respect for the environment, sustainability and good market practices.

We work closely with our clients to ensure that their specific needs and requirements are met, and we strive to provide them with the highest level of customer service and product quality. Our state-of–the-art facilities utilize the latest technology to ensure that our products meet the highest standards of food safety and quality control. Our team of experienced professionals is dedicated to providing our clients with exceptional service and high-quality products that meet their specific needs. We are proud to partner with name brand food companies such as Unilever.

Financial Performance Summary

We began operations in 2020 (through our subsidiaries). As a result of our limited operating history, we have limited financial data that can be used to evaluate our current business, and such data may not be indicative of future performance. Since 2020, most of our free cash flow has been used to fund our operations and growth, capital expenditure investments, human resources and other expenses. As a result, we experienced losses in fiscal year 2021. In 2022, we carried out a series of management, asset and financial adjustments, laying the foundations for improving the Company’s performance for the year ended December 31, 2022. As a result, in the fiscal year of 2022, due to the increase in our performance, we did not record a net loss, but recorded a net profit of US$405,192. However, for the year ended December 31, 2023, we recorded a net loss of approximately $(4.7) million due to high cost of money and all the investments made in people, systems, packaging, processes and logistics.

We have encountered, and expect to continue to encounter, risks and difficulties frequently experienced by growing companies, including challenges in financial forecasting accuracy, determining appropriate investments, developing new products and features, maintaining minimum cash and working capital levels, among others.

Despite these major challenges faced by the Company in 2022, we were able to record the best financial performance in the Company’s history in fiscal year 2022. During this period, processes were reviewed, costs were cut, therefore promoting a stronger and more efficient structure to the Company.

Although we did not record a net loss in fiscal year 2022, it is necessary to highlight that the continuance of our growth and expansion required new investments in 2023, retention of cash and accrual of expenses, additional financing needs, which adversely impacted and eliminated our profitability in 2023. As a result of the foregoing and external challenges such as limited credit availability and high financing costs, we recorded a 29.43% decline in revenues in 2023.

Note: Net loss and revenue are for the year that ended Dec. 31, 2023.

(Note: BRB Foods Inc. increased its IPO’s size to 2.6 million shares – up from 2.5 million shares – and kept the price range at $4.00 to $5.00 – to raise $11.7 million, according to an S-1/A filing dated Aug. 30, 2024. In the Aug. 30, 2024 filing, BRB Foods also changed the proposed listing venue to the NASDAQ from the NYSE – American Exchange. Background: BRB Foods Inc. increased its IPO’s size to 2.5 million shares – up from 2.0 million shares initially – and kept the price range at $4.00 to $5.00 – to raise $11.25 million, according to an S-1/A filing dated July 26, 2024. Background:  BRB Foods Inc. is offering 2.0 million shares at a price range of $4.00 to $5.00 to raise $9.0 million, according to its SEC filings. Background: BRB Foods filed its S-1 on Jan. 17, 2024. The company submitted confidential IPO documents to the SEC on May 15, 2023.)