MamaMancini's acquires 24% stake in Chef Inspirational Foods for $1.2M; has option to buy remainder

Mama's Creations, Inc.

Paid $500k cash plus $700k common stock for 24% of CIF; implied CIF enterprise value $5M.
Option to purchase remaining 76% within one year for $3.8M ($3.5M cash + $300k stock).
CIF sells fresh/frozen prepared foods to supermarkets and club stores; based in FL and NY.
Transaction closed June 28, 2022; CIF founded in 2008.

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