Eat Beyond Portfolio Company good natured® Posts Strong First Quarter

Rhea-AI Summary

Eat Beyond Global Holdings Inc. (CSE: EATS, OTC: EATBF) announced a remarkable 160% surge in revenue for its portfolio company, good natured® in Q1 2021, reaching $8 million with gross margins between 36-38%. The company, which specializes in eco-friendly packaging, has seen a CAGR of 153% over the past six years, reflecting strong market demand. With nine manufacturing facilities and over 500 recurring business customers, Eat Beyond remains optimistic about good natured®’s growth and its potential to expand revenue streams in the alternative food sector.

Positive

• 160% increase in revenue for good natured® in Q1 2021.
• $8 million in revenue with gross margins of 36-38%.
• CAGR of 153% over the last six years.
• Strong customer base with over 500 recurring business clients.
• Nine manufacturing facilities enhancing operational capacity.

Negative

• None.

VANCOUVER, BC, May 4, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTC: 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^® (TSXV: GDNP) achieved a 160 percent increase in revenue for the first quarter of 2021.

From January to March 2021, good natured^® reported $8 million in revenue with gross margins anticipated to reach between 36 and 38 percent.

Founded in 2006, good natured^® offers nearly 400 different products and services.  It is one of the largest continental providers of environmentally friendly products made without petroleum and free from BPAs, phthalates, and other chemicals of concern. good natured^® enables businesses and consumers to easily and affordably reduce fossil fuel usage and make smarter, more sustainable choices.

"We were drawn to good natured^® because their main objective is to significantly reduce the use of petroleum-based plastics by providing plant-based packaging options to consumer goods businesses in the food space,"  Eat Beyond CEO Patrick Morris said.  "good natured^® is positioned perfectly to fulfill the growing market demand for eco-friendly options, especially given the company's flexible and scalable supply chain." 

Notably, good natured^® has nine manufacturing facilities and an impressive list of over 500 recurring business customers.  It also exceeds 20,000 direct-to-consumer sales annually across the United States and Canada with a compound annual growth rate (CAGR) of 153 percent over the last six years.

"Eat Beyond remains bullish on its good natured^® investment given both its growth history and trajectory," Morris said.  "The fragmented nature of the fast-moving consumer goods market means that a company like good natured^® is in a great position to continue to expand its revenue streams."

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Learn more about good natured here: https://goodnaturedproducts.com/pages/about-us

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 was the revenue increase for Eat Beyond's portfolio company good natured® in Q1 2021?

good natured® reported a 160% revenue increase in Q1 2021.

What were the gross margins reported by good natured® for Q1 2021?

The gross margins for good natured® are anticipated to be between 36% and 38%.

How much revenue did good natured® achieve in the first quarter of 2021?

good natured® achieved $8 million in revenue for Q1 2021.

What is the CAGR for good natured® over the past six years?

good natured® has a compound annual growth rate (CAGR) of 153% over the past six years.

How many manufacturing facilities does good natured® have?

good natured® operates nine manufacturing facilities.