Eat Beyond Portfolio Company good natured Posts Strong FY2020 Results

Rhea-AI Summary

Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announced that its portfolio company, good natured Products Inc. (TSXV: GDNP), posted impressive fiscal results for Q4 2020. The company reported anticipated revenue growth of 98% to 110%, totaling between $5.0 million and $5.3 million for the quarter. FY2020 revenue is projected to rise nearly 70% to $16.4 million to $16.7 million. Factors contributing to this success include organic growth, new eCommerce initiatives, and entry into the medical packaging sector, enhancing accessibility to plant-based products.

Positive

• good natured reported Q4 2020 revenue growth of 98% to 110%, approximately $5.0 million to $5.3 million.
• Full FY2020 revenue projected to increase nearly 70%, reaching $16.4 million to $16.7 million.
• Successful eCommerce site launch serving Canada and the U.S.
• Entry into medical packaging market for COVID-19 testing kits and PPE.

Negative

• None.

VANCOUVER, BC, Feb. 2, 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, is announcing that its portfolio company good natured Products Inc. ("good natured®") (TSXV: GDNP) has released its annual letter to shareholders showing exceptional revenue growth for the fiscal quarter ended December 31, 2020 and excellent projected growth for FY2020.

As per preliminary results released on January 12, 2021, good natured® ended FY2020 on a very strong note, with growth for the fiscal quarter ended December 31, 2020 anticipated to be between 98% - 110% on revenue between $5.0 million to $5.3 million, while full FY2020 revenue is anticipated to be up almost 70%, at $16.4 million to $16.7 million.

These strong results were driven by both organic growth and successful acquisitions. Several successful projects were executed, including the launch of an optimized eCommerce website serving both Canada and the U.S. as well as successful entry into the medical and pharmaceutical industry with packaging for COVID-19 testing kits, and personal protective equipment such as COVID-19 medical face shields.

good natured® makes plant-based products more readily accessible with a goal of delivering meaningful environmental and social impact. good natured® offers over 385 products and services through wholesale and retail channels, including their own e-commerce stores. This includes plant-based home organization products, compostable food containers, bioplastic industrial supplies and medical packaging.

"good natured® makes some of the best plant-based alternatives to traditional, petroleum-based packaging that I have seen on the market. I believe they are truly on the path to building North America's leading earth-friendly product company," said Patrick Morris, CEO of Eat Beyond. "We are very happy to see demand for their products continue to grow - benefiting our shareholders and also having a positive impact on the planet."

About good natured Products Inc.

good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of eco-friendly options made from plants instead of petroleum. We're all about making it easy and affordable for business owners and consumers to switch to better everyday products® made from renewable materials and free from chemicals of concern.

Part of the sustainable consumer goods market, good natured® offers over 385 products and services through wholesale and retail channels, including our own e-commerce stores. From plant-based home organization products to compostable food containers, bioplastic industrial supplies and medical packaging, we're focused on delivering a great customer experience to make more plant-based products readily accessible to more people as the path to deliver meaningful environmental and social impact.

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

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SOURCE Eat Beyond Global Holdings Inc.

FAQ

What are the FY2020 revenue projections for Eat Beyond's portfolio company, good natured Products Inc. (EATBF)?

good natured Products Inc. projects FY2020 revenue to rise nearly 70%, reaching between $16.4 million and $16.7 million.

What was the Q4 2020 revenue growth reported by good natured Products Inc. (EATBF)?

good natured Products Inc. reported anticipated revenue growth of 98% to 110% for Q4 2020, totaling between $5.0 million and $5.3 million.

What factors contributed to good natured's revenue growth in FY2020 (EATBF)?

The revenue growth for good natured was driven by organic growth, successful eCommerce projects, and entry into the medical packaging industry.

How does Eat Beyond Global Holdings Inc. (EATBF) support the plant-based food sector?

Eat Beyond Global Holdings invests in companies developing innovative food tech and alternative food products, aiming to lead in the sustainable food market.