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Eat Well Group Wholly-Owned Portfolio Company Sapientia Technologies, LLC Launches Plant-Based Snacks Developed by the Inventor of Twisted Cheeto’s, with Federated Co-op Stores Across Western Canada
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Rhea-AI Summary
Eat Well Group announces the launch of its plant-based twisted curls, developed by subsidiary Sapientia Technologies, LLC, to over 350 Federated Co-op Stores in Western Canada. This innovative snack, which mimics Twisted Cheetos, offers up to 3-4x more protein and 4-5x more fiber while having 30% fewer calories. The initial flavors include Ketchup and Cheese, with new flavors anticipated soon. This move is part of Eat Well Group's strategy to tap into the growing healthier snack food market, supporting their expansion goals for 2022.
Positive
Launch of plant-based twisted curls in over 350 stores.
Product offers 3-4x more protein and 4-5x more fiber than competitors.
30% fewer calories compared to fried alternatives.
Plans for further product development and expansion in 2022.
Negative
None.
Eat Well Group wholly-owned portfolio company commercializes intellectual property less than six months after its acquisition, launching white label better-for-you plant-based twisted curls to over 300 Federated Co-op Stores across Western Canada
VANCOUVER, British Columbia--(BUSINESS WIRE)--
Eat Well Investment Group Inc., (the “Company” or “Eat Well Group” or “EWG”) (CN:EWG) (US:EWGFF) (FRA:6BC0) is pleased to announce its wholly-owned subsidiary, Sapientia Technologies, LLC (“Sapientia”) has launched its better-for-you plant-based twists to 350 Federated Co-operatives Limited Ltd. (“FCL”) stores under the COOP Pure Brand. The plant-based snacks are created by Sapientia founder and President Dr. Eugenio Bortone, the inventor of the Twisted Cheetos, which generated approximately $200 million in retail sales in its first calendar year.
Eat Well Group's Protein Twists (Photo: Business Wire)
"Federated Coop is very excited to partner with Eat Well Group to introduce such a breakthrough plant-based snack item under the COOP Pure Brand," stated Sav Bellissimo, Head of Store Brands at FCL. "There is nothing in the category that has this much protein and fibre and still tastes like a regular salty snack and made locally here in Western Canada”.
Eat Well Group is pleased to see Sapientia commercialize its proprietary formulations and intellectual property less than six months after its acquisition by Eat Well Group. This launch establishes the Company’s investment in a white label division, providing Eat Well Group with an additional revenue channel it plans to scale in 2022 with further product offerings.
Sapientia created the plant-based twisted curls for consumers seeking healthier snack foods with increased protein and nutritional credentials. Since these plant-based twisted curls are baked and not fried they deliver approximately 30% less calories with higher nutritional credentials than competitor’s products which are largely corn based.
“Our investment in Sapientia is disrupting the multi-billion-dollar snack food market by providing taste and nutrition without compromise. These plant-based twisted curls deliver the same delicious flavour, crunch and texture as leading snack food brands while providing 3-4x more protein, 4-5x more fibre, with less fat and calories,” stated Marc Aneed, President of Eat Well Group. “Dr. Eugenio Bortone and his team at Sapientia have created a product that you would eat and enjoy, even if you didn’t know it was better for you,” continued Aneed.
The initial launch with FCL shipped on December 8, 2021, and consists of Ketchup and Cheese flavours. The Company is currently developing both Chili Lime and Mediterranean flavours which it anticipates will be available shortly.
With commercialization established, this test market allows Sapientia to validate its operations and commercial processes before expanding further into broader eCommerce and brick and mortar locations across North America throughout H1, 2022.
With more products currently under development, Sapientia and other investee companies of Eat Well Group continue to work with the Saskatchewan Food Centre and other partners to explore utilizing other pulse combinations to create new and exciting products with combinations of fava beans, chickpeas and yellow peas.
Led by Dr. Eugenio Bortone, one of the world’s most preeminent food scientists, extrusion processing experts, and inventor of Frito-Lay’s Twisted Cheetos, Sapientia has created and filed four foundational patents revolving around the “protein twist” and crispy puff style snack. By focusing on the texture and crunch, Sapientia’s disruptive patents solve one of the major problems large-scale snack-food companies have struggled with for years; the utility of the snack; including texture, flavour, and offering a guilt free, not fried, natural and healthy alternative to the majority of snack food products on the market today.
To learn more, join Eat Well Group’s mailing list for important updates.
ABOUT EAT WELL GROUP
Eat Well Group is a publicly-traded investment Company primarily focused on high-growth companies in the agribusiness, food tech, plant-based and ESG (environmental, social and governance) sectors. Eat Well Group’s management team has an extensive record of sourcing, financing and building successful companies across a broad range of industries and maintains a current investment mandate on the health/wellness industry. The team has financed and invested in early-stage venture companies for greater than 25 years, resulting in unparalleled access to deal flow and the ability to construct a portfolio of opportunistic investments intended to generate superior risk-adjusted returns.
Disclaimer for Forward Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities laws (collectively, “forward-looking information”). Forward-looking information are often, but not always, identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “likely” and “intend” and statements that an event or result “may,” “will,” “should,” “could” or “might” occur or be achieved and other similar expressions. Forward-looking information in this news release includes future anticipated business developments for the companies in which Eat Well Group invests. Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to the ability of the Company to execute its business plan. The Company considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those expressed or implied in the forward-looking information. Such risks include, without limitation: the failure to negotiate and execute additional investments in target industries, the ability of the Company to complete investments in a timely manner or at all; the receipt of requisite approvals to complete the additional investments; the ability of the Company to realize the expected benefits and synergies of investments; unexpected disruptions to the operations and businesses of the Company and investee entities as a result of the COVID-19 global pandemic or other disease outbreaks including a resurgence in the cases of COVID-19; the ability of the Company to comply with applicable government regulations in a regulated industry; any change in accounting practices or treatment affecting the consolidation of financial results adverse market conditions; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; costs of inputs; crop failures; litigation; currency fluctuations; competition; availability of capital and financing on acceptable terms; industry consolidation; loss of key management and/or employees; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. For more information on the Company and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
