Foodeez started as a salvage business in 2008, purchasing damaged stock from the insurance industry. Viable recovered stock was debranded, repackaged and sold on a wholesale basis to independent retailers.
As the business grew it became evident that manufacturers, importers and retailers were often faced with the unenviable task of dumping foodstuffs that in many cases was completely safe for human consumption. Both local and international reports indicated that up to 30% of food production was being dumped – food that was either short-dated, past Best Before date, damaged, or in many cases, the result of failed product launches or test production runs which couldn’t be sold via formal retail channels.
Reluctance to pay to dump or write off stock often results in stockholdings in forgotten corners of manufacturer or distributor warehouses and cold storage facilities, held until financial year-end when no realistic alternatives to dumping present themselves.
Foodeez is in a position to offer a solution that allows manufacturers and distributors some form of financial recovery on their problematic stock.