Eat Beyond Adds SIRE Bioscience to its Portfolio and Extends Marketing Agreement
Eat Beyond Global Holdings Inc. (OTCPK: EATBF) announced an investment in SIRE Bioscience, a company specializing in plant-based foods and supplements. This investment will support SIRE's working capital and the expansion of its product lines, particularly following its acquisition of PlantFuel, Inc., which boasts over $200 million in sales. Additionally, Eat Beyond has extended its marketing agreement with Media Relations Publishing for EUR 100,000 over four weeks. This strategic move aligns with rising consumer demand for health-oriented supplements.
- Investment in SIRE Bioscience enhances Eat Beyond's portfolio in the growing plant-based supplements market.
- SIRE's acquisition of PlantFuel provides access to a strong $200 million sales portfolio and wide distribution.
- None.
VANCOUVER, BC, March 17, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, announced it has invested in SIRE Bioscience (CSE: SIRE) ("SIRE").
SIRE is a CPG life science company focused on the plant-based foods and supplements industry. Its products are segmented into three areas: sports nutrition, plant fuel, and plant-based protein.
SIRE recently acquired PlantFuel, Inc. providing SIRE with a solid portfolio of plant-based products. PlantFuel's leadership has scaled brands to over
Fusion Nutrition Inc., which SIRE acquired in 2020, is a Canadian-based, leading supplement company with national distribution. It holds some of the fastest-growing supplements in Canada and numerous category leaders sold in Canada's top five retailers. Fusion is available in 800 locations nationwide.
"Eat Beyond is excited to expand our growing portfolio into the supplements space," Eat Beyond CEO Patrick Morris said. "SIRE has a wide-ranging portfolio of brands, and we believe that the supplements industry is currently in an exciting evolutionary phase and that consumers are increasingly seeking to improve the quality of what they consume. Supplements are becoming less about solely producing aesthetic results, and more about improving overall health. SIRE is on the forefront of this trend."
SIRE will use the funds from this investment for working capital, expansion of the Fusion line of supplement products, and expansion capital.
Marketing Agreement
The Company also announces that it has extended its service contract (the "Service Contract") announced December 2, 2020 with Media Relations Publishing, Carsten Schmider ("Media Relations"), to provide marketing and consulting services, including certain investor relations services, for the purpose of creating market awareness of the Company. The Service Contract extension includes payment of EUR 100,000 for a four-week period commencing March 16, 2021.
About Eat Beyond Global Holdings
Eat Beyond Global Holdings Inc. ("Eat Beyond") (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/
Find Eat Beyond on Social Media on LinkedIn, Instagram, Twitter and Facebook
View original content to download multimedia:http://www.prnewswire.com/news-releases/eat-beyond-adds-sire-bioscience-to-its-portfolio-and-extends-marketing-agreement-301249339.html
SOURCE Eat Beyond Global Holdings Inc.
FAQ
What recent investment did Eat Beyond Global Holdings make?
How much sales does PlantFuel, recently acquired by SIRE, have?
What is the purpose of Eat Beyond's investment in SIRE?
What is the amount of the extended marketing agreement for Eat Beyond?
