Eat Beyond Portfolio Company, The Very Good Butchers, Expands its Grocery Distribution Network

Rhea-AI Summary

Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) announces a major distribution expansion for its portfolio company, The Very Good Food Company. Starting August 1, 2021, Save-On-Foods will offer The Very Good Butchers' plant-based meat products at 184 locations, increasing their retail presence by 83% to 2,476 points across 573 stores. Additionally, eCommerce sales surged by 1,744% and wholesale revenue rose by 230% in Q1 2021 compared to the previous year. This expansion enhances brand visibility and accessibility, positioning the company for further growth.

Positive

• Expansion into Save-On-Foods increases retail presence by 83%, adding 184 locations.
• Total distribution points rise to approximately 2,476 across 573 stores.
• eCommerce sales increase by 1,744% year-over-year in Q1 2021.
• Wholesale revenue up by 230% in Q1 2021 compared to Q1 2020.

Negative

• None.

VANCOUVER, BC, June 30, 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 The Very Good Food Company (CSE: VERY) ("VERY GOOD") has significantly increased its grocery distribution footprint by forging a relationship with Horizon Grocery + Wellness, Canada's leading distributor of wholesale organic food and natural products.

Beginning August 1, 2021, Save-On-Foods will carry The Very Good Butchers' unique plant-based meat products at 184 Canadian retail locations. As a result, VERY GOOD's retail presence will increase 83% over its March 2021 footprint, tallying approximately 2,476 total distribution points across 573 retail stores.

"VERY GOOD has developed over 14 great products since launching as the first plant-based butcher on Canada's west coast," Eat Beyond CEO Patrick Morris said. "Save-On-Foods is one of the best-known grocery retailers in Canada and this expansion represents a great opportunity for VERY GOOD to capitalize on a large new distribution network. This will boost awareness of the brand and make it increasingly accessible to a wider demographic of potential customers interested in healthy, plant-based, meat alternatives."

VERY GOOD also increased its eCommerce sales by1,744% and tripled its wholesale distribution points in the first three months of 2021 compared to the same period in 2020 resulting in an increase of wholesale revenue of 230%.

"The Very Good Food Company is a strong brand with delicious, high-quality, and unique products," Morris said. "We look forward to witnessing further growth and innovation from this company across Canada and beyond."

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About The Very Good Food Company

The Very Good Food Company Inc. is an emerging plant-based food technology company that produces nutritious and delicious plant-based meat and cheese products under VERY GOOD's core brands: The Very Good Butchers and The Very Good Cheese Co. www.verygoodfood.com 

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/

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SOURCE Eat Beyond Global Holdings Inc.

FAQ

What does Eat Beyond Global Holdings Inc. focus on?

Eat Beyond Global focuses on investing in the global plant-based and alternative food sector.

When will Save-On-Foods start carrying The Very Good Butchers' products?

Save-On-Foods will start carrying the products on August 1, 2021.

How much did Very Good's retail presence increase?

Very Good's retail presence increased by 83%, reaching approximately 2,476 distribution points.

What significant sales growth did The Very Good Food Company achieve in Q1 2021?

The Very Good Food Company experienced a 1,744% increase in eCommerce sales and a 230% rise in wholesale revenue.

What impact will the new distribution network have on Very Good's brand awareness?

The new distribution network is expected to boost brand awareness and accessibility to a wider customer demographic.