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Innovative Food Holdings (IVFH) is a leading nationwide provider of direct from source specialty foods, healthcare foods, gluten free foods, and artisanal foods. The company’s specialty food platform powers some of the largest food distributors in the country. Innovative Food Holdings has showcased over 50 consecutive months of year over year growth while increasing profitability. A few of us MicroCapClub members visited the company’s headquarters in Florida last summer and came away impressed with how management is positioning itself in the Specialty Food space. The industry is ripe for consolidation. In the month of January alone, there were 21 M&A transactions in the food distributor industry. In the specialty food distributor category The Chefs’ Warehouse (CHEF) and United Natural Foods (UNFI) have been growing rapidly, mostly by way of acquisitions. With Amazon.com (AMZN) now entering the direct to consumer space by way of amazonfresh, we feel Innovative Food Holdings is right in the sweet spot of the industry and also likely in the crosshairs of industry participants.