Better Choice Announces Strategic Investment by China’s Largest Pet Focused Platform and Retail Partner, Boqii Holding Limited (NYSE: BQ)

Rhea-AI Summary

Better Choice Company (NYSE: BTTR) announced a strategic investment from Boqii Holding Limited (NYSE: BQ), China's largest pet-focused platform and its retail partner. This partnership is expected to drive growth in the Chinese market, which Better Choice views as among its most profitable opportunities. Michael Young, Chairman of Better Choice, expressed excitement over the strengthening partnership, while Boqii’s leadership emphasized their commitment to sourcing high-quality global brands.

Positive

• Strategic investment from Boqii Holding Limited enhances growth prospects in the Chinese market.
• Strengthened partnership with Boqii, a leading retail partner, supports Better Choice's expansion strategy.

Negative

• None.

NEW YORK, July 06, 2021 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE: BTTR) (“Better Choice”), an animal health and wellness company, today announced a strategic investment by China’s largest pet-focused platform and the Company’s retail partner, Boqii Holding Limited (NYSE: BQ).

Michael Young, Chairman of Better Choice, stated, “We are thrilled to have buy in from our partners in China, as we view this market as one of our fastest growing most profitable opportunities. Boqii has been an outstanding retail partner and we are excited to further strengthen our partnership. We look forward to prospering together.”

“We are happy to be part of Better Choice’s China story. This relationship is part of our relentless efforts in sourcing high quality global brands for our customers,” said Mr. Hao Liang, Chairman and CEO of Boqii. “We are set to grow together with our brand partners and empower them with our eco-system in China.”

About Boqii Holding Limited
Boqii Holding Limited (NYSE: BQ) is China's largest pet-focused platform. We are the leading online destination for pet products and supplies in China with our broad selection of high-quality products including global leading brands, local emerging brands, and our own private label, Yoken and Mocare, offered at competitive prices. Our online sales platforms, including Boqii Mall and our flagship stores on third-party e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized shopping experience. Our Boqii Community provides an informative and interactive content platform for users to share their knowledge and love for pets.

About Better Choice Company, Inc.
Better Choice Company Inc. is a growing animal health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier and longer lives. We take an alternative, nutrition-based approach to animal health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted animal health and wellness products and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell the majority of our dog food, cat food and treats under the Halo and TruDog brands, which are focused, respectively, on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet dog food and treats. For more information, please visit https://www.betterchoicecompany.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Company Contact:
Better Choice Company, Inc.
Scott Lerner, CEO

Investor Contact:
KCSA Strategic Communications
Valter Pinto, Managing Director
PH: 212-896-1254
Valter@KCSA.com

FAQ

What does the investment from Boqii Holding mean for BTTR?

The investment is expected to enhance Better Choice's growth opportunities in the Chinese market, which is seen as a profitable area.

How does the partnership with Boqii affect BTTR's business strategy?

The partnership aims to strengthen Better Choice's position in China's pet product market and leverage Boqii's resources.

When was the investment from Boqii Holding announced?

The investment was announced on July 6, 2021.

What is Boqii Holding's role in the investment related to BTTR?

Boqii Holding is Better Choice's retail partner and is China's largest pet-focused platform, playing a crucial role in facilitating market entry.

How does this investment impact Better Choice Company's growth?

The investment is expected to accelerate Better Choice's growth in one of its fastest-growing and most profitable markets.