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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.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announced that its portfolio company, Nabati Foods Global Inc., is supplying its plant-based Nabati Cheeze to Mucho Burrito, a Mexican restaurant chain in Canada. This partnership commenced on April 12, 2021, with Nabati Cheeze now available at 140 locations. CEO Patrick Morris highlighted Nabati's successful revenue diversification despite pandemic challenges, while CEO Ahmad Yehya emphasized the strong market response and plans for further commercial partnerships.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announced that its portfolio company, The Very Good Food Company Inc. (TSXV: VERY), has begun operations at a newly upgraded manufacturing facility in Vancouver. This 45,000 square foot facility is set to enhance Very Good's production capacity by 2,690%, producing up to 37 million pounds of plant-based products annually. Additionally, Eat Beyond engaged Sideways Frequency for marketing services, investing $250,000 to boost brand awareness.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announced a partnership between its portfolio company Nabati Foods Global Inc. and Mucho Burrito on April 12, 2021. Nabati's plant-based Cheeze shreds will be featured in 140 Mucho Burrito locations across Canada. This collaboration follows Nabati's recent supply agreement with COBS Bread for its Beyond Sausage® Arrabbiata Mini Pizza. Nabati's diverse revenue streams have allowed it to thrive amid pandemic challenges, showcasing its growth potential in the foodservice sector.
Eat Beyond Global Holdings Inc. (OTCPK: EATBF) has announced that its portfolio company, SingCell Tx Pte Ltd., has signed a technology development agreement with the National University of Singapore. This collaboration aims to evaluate and license plant-based edible microcarriers technology, which shows promise in addressing cost and scalability challenges in the cultured meat sector. SingCell, a contract development organization, is positioned to enhance its 3D cell culture capabilities and expand its project pipeline, leveraging Singapore's supportive innovation environment.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announces that its portfolio company TurtleTree Labs has partnered with JSBiosciences to scale production of cell culture media. TurtleTree aims to replicate breast milk components using cellular technology, improving infant nutrition. The collaboration enhances manufacturing efficiency in Singapore, driving down costs and supporting robust cash flow. The global infant nutrition market is anticipated to exceed $100 billion by 2026, highlighting the growth potential for TurtleTree and Eat Beyond's investment strategy in sustainable food solutions.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announces that portfolio company Eat Just Inc. has secured $200 million in a funding round, raising over $650 million since its inception in 2011, achieving a valuation exceeding $1 billion. The funding, led by Qatar Investment Authority, will propel R&D, enhance manufacturing, and expand global branding. Eat Just's products, including the JUST Egg, are sold at 20,000 retail and 1,000 foodservice locations, boasting sales of the equivalent of 100 million eggs.
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.
On March 15, 2021, Eat Beyond Global Holdings (CSE: EATS; OTCPK: EATBF) announced its portfolio company Nabati Foods completed an oversubscribed $7.7 million private placement, exceeding its initial $4 million target. The funds will support Nabati's go-public plans, business development, and production capacity expansion. Nabati, recognized for its growth in the plant-based food sector, offers products like dairy-free cheesecakes and plant-based meats, and has seen strong demand despite pandemic challenges.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) has been selected as one of only 21 companies globally to be included in the VegTech™ Index, the first index focusing on publicly traded plant-based companies. This index aims to provide a financial overview of the plant-based sector, which is showing significant growth. According to CEO Patrick Morris, the index will offer investors crucial data reflecting the sector's performance. The VegTech™ Index increased over 23% in January 2021, highlighting the rising interest in animal-free products.
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