Only a day after saying it entered the hospitality industry through a new client, Frankenmuth Bavarian Inn in Michigan, Snipp Interactive Inc. (TSX-V: SPN)(OTCQB: SNIPF), disclosed securing a multi-year loyalty program agreement with a large, unnamed company. As often happens, companies site competitive reasons for keeping the company’s name anonymous, relinquishing Snipp to only be able to say that the client is “part of an international multi-national food processing and distribution company” with over US$18 billion in global revenue.
Headquartered in Toronto with offices around the world, Snipp is focused on driving sales through its loyalty and promotions, with an impressive client list that includes the likes of Kraft Heinz (NYSE: KHC), Constellation Brands (NSYE: STZ), Kimberly Clark (NYSE: KMB), Pfizer (NYSE: PFE) and many more household names. With its inclusion in the 2017 list, the Toronto-based company has made Deloitte’s Technology Fast 500™ List for the second straight year.
While it couldn’t divulge the company’s name, Snipp management did say that it won the three-year contract following selling the client several short-term programs in the fourth quarter of 2017. A quick skim through Snipps’ clients shows Hormel (NYSE: HRL) and Tyson (NYSE: TSN) as potential fits, although their sales don’t match the $18 billion provided, not to mention the phrase “part of an international…” certainly keeps things plenty opaque.
Be that as it may, the new client is big enough that Snipp hopes to add additional brands from both it and its parent company’s portfolio in the future.
Following a long-winded downtrend, shares of SPN look to be trying to turn the corner, holding an uptrend since hitting 6.5 cents in September 2017. The stock is up modestly, a half a penny (+4.76%) to 11 cents in Thursday as of about 2 PM ET, after peaking as high as 12 cents earlier in the session.
