MAMA - Mama's Creations, Inc.

Mama's Creations, Inc. manufactures and sells fresh, refrigerated, grab-and-go meatballs, sausage, and other protein-based prepared foods under the MamaMancini's brand, sold primarily through retail grocery chains and club stores such as Walmart, Costco, and regional supermarkets. The business model is direct retail distribution (B2B to retailers, B2C at shelf), with products positioned in the deli and prepared foods sections targeting everyday home meal consumers. Annual revenue is approximately $60–70 million, with operations and sales concentrated in the United States. The company has pursued growth through acquisitions of other specialty food brands and manufacturing capacity, expanding beyond its original meatball heritage into broader refrigerated prepared protein categories.

Past Year Trends

• MAMA acquired Crown I Enterprises from Sysco Corporation on September 2, 2025 for $17.5 million all-cash, adding $56.8 million in annual revenue (roughly 45% to MAMA's revenue run-rate) and funded via a $20M private placement at $7.50/share plus a new $27.4M M&T Bank credit facility. (Bullish)
• Full-year FY2026 revenue grew 39% to $171.7 million (vs. $123.3 million in FY2025), with Q4 FY2026 alone up 61% YoY to $54.0 million; adjusted EBITDA grew 52% to $15.4 million and diluted EPS rose 44% to $0.13, while consolidated gross margin held at 25.1% despite Crown I's dilutive low-20% margins. (Bullish)
• MAMA secured first-time distribution at Target (~750 stores, 2 branded SKUs), Food Lion (~1,200 Southeast stores, 5 SKUs), and expanded Costco to all 8 regions including first 'everyday item' status in the Northeast for Beef Meatballs, with Costco revenues growing from $0.5 million in FY2023 to over $10 million in Q1 FY2026 alone. (Bullish)

Next Year Trends

• MAMA is pursuing expansion of Costco 'everyday item' status from the current Northeast region to all remaining 7 Costco regions for Beef Meatballs plus two new SKUs (meatloaf, stuffed peppers), representing the single largest discrete revenue lever management has identified given Costco revenues grew 20x over three years. (Bullish)
• Management explicitly guided Crown I's Bay Shore facility gross margins will rise from the current low-20% range to the mid-20% range within one year through procurement scale and overhead absorption, with mid-to-high single-digit millions in annual CapEx budgeted to automate labor-intensive operations, targeting consolidated margins in the mid-to-high 20s. (Bullish)
• MAMA's 100% transition to No Antibiotics Ever (NAE) chicken carries an incremental $0.10–$0.15 per pound cost premium on top of already-elevated spot prices near $1.50/lb, while planned 50% year-over-year marketing spend increases and rising freight costs introduce additional operating expense headwinds even as gross margins are targeted to improve. (Bearish)

Red Flags

No severe red flags identified as of August 2025.