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Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) has announced that its portfolio company, Nabati Foods Global Inc., has patented its new plant-based liquid egg product, Nabati Plant Eggz, in Canada, the US, and Australia, with filings underway for Europe and China. This innovative product is made from lupin and pea protein, has 90 calories per serving, and is high in vitamins while being soy-free and gluten-free. Nabati Eggz is expected to be available for retail consumers soon, reflecting the growing trend in sustainable food alternatives.
Eat Beyond Global Holdings Inc. has appointed Michael Aucoin as its new CEO, succeeding Patrick Morris, who led since 2019. Aucoin aims to position Eat Beyond as a major player in the $50 billion plant-based protein market, targeting North America and Europe. He plans to enhance technical innovation, research, and capacity-building projects to support portfolio companies. Morris is credited with establishing a solid foundation for future growth, leaving the company well-positioned for its new strategic direction.
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.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announces that its portfolio company, Nabati Foods Global Inc., is the top sponsor of NFL player Mario Addison's youth football camp on June 26 in Birmingham, Alabama. Nabati will provide over 650 children aged 8-18 with plant-based burgers. CEO Patrick Morris highlights the significance of educating youth on healthy eating and acknowledges Nabati's recent expansion and innovation in the plant-based market, including a new manufacturing facility that increased production capacity.
Eat Beyond Global Holdings Inc. (OTCPK: EATBF) announced that its portfolio company, Plant Power Restaurant Group, raised $7.5 million in a Series A financing round. This is noted as the largest financing for a plant-based fast-food franchise. The funds will support the opening of seven new vegan restaurant locations in the U.S., including Hollywood and Las Vegas. Plant Power's net sales grew over 50% in 2020, and the QSR market is projected to grow at a 4.6% CAGR, nearing $1 trillion by 2027. Eat Beyond aims to enhance Plant Power's market presence further.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announced that its portfolio company good natured® has launched Canada's first compostable, microwavable takeout containers. Made from 97% plant-based materials, these leak-resistant containers align with Canada's upcoming single-use plastic regulations. With a diverse product line, good natured® is positioned to capitalize on the growing demand for eco-friendly packaging. CEO Patrick Morris emphasized the importance of sustainable choices in food storage amid rising takeout services during the pandemic.
Eat Beyond Global Holdings Inc. (OTCPK: EATBF) has announced that its portfolio company, Eat Just Inc., secured $170 million in funding for its GOOD Meat subsidiary, which focuses on cultured meat production. This funding aims to enhance research and development and increase production capacity. Good Meat is valued over $1 billion and previously raised $200 million in March 2021. The cultured meat product has shown significant growth potential, addressing sustainability concerns in the food industry.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) has announced that its portfolio company, Nabati Foods Global Inc., has completed the construction of a new manufacturing facility in Edmonton, Alberta. This facility is approximately five times larger than its pilot plant, enabling Nabati to produce 1.2 million pounds of plant-based Cheeze and about 1 million pounds of plant-based meat. Nabati Foods has reinvested $7.7 million from its recent financing round into this project to meet increasing demand, with plans to extend its reach across North America and Europe.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announces that its portfolio company, good natured®, has acquired Ex-Tech Plastics for $14.1 million (USD). This acquisition, expected to close in May, will enhance good natured's product offerings and nearly double its revenue, with Ex-Tech generating $25.8 million USD in 2020. The deal also adds 105 B2B customers and significantly increases good natured's assets and market presence in the Midwest, thereby strengthening its position in the eco-conscious product sector.
On May 13, 2021, Eat Beyond Global Holdings Inc. (CSE: EATS, OTC: EATBF) announced a strategic investment in Daydream Drinks Inc., an Ontario-based beverage company known for Canada's first sparkling water infused with hemp extracts and adaptogens. Daydream's product contains less than 0.03% CBD and zero THC, targeting the health-conscious market. Following impressive growth, with a 550% revenue increase in 2020, Daydream aims to expand to over 1,000 stores in Canada by year-end 2021. Eat Beyond aims to enhance its food technology portfolio and provide hands-on support to its portfolio companies.
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