Planet Based Foods Announces Agreement with Major Southwestern Grocery Retailer

Rhea-AI Summary

Planet Based Foods Global Inc. (CSE: PBF, OTCQB: PBFFF) announced a new agreement with Fry's Food and Drug to supply its hemp-based superfood products in selected stores across Arizona. This partnership aims to enhance the brand's visibility in the American Southwest, with Fry's operating 123 locations statewide. Planet Based Foods' offerings include nutrient-rich, sustainable food products that are 100% vegan and environmentally friendly. CEO Braelyn Davis expressed excitement over expanding accessibility to their products and plans to engage with additional grocery retailers throughout 2023.

Positive

• New agreement with Fry's Food and Drug enhances market presence.
• 123 Fry's locations in Arizona will carry Planet Based Foods' products.
• Focus on sustainable, hemp-based superfoods aligns with market trends.
• CEO highlights plans for increased brand recognition in 2023.

Negative

• None.

VANCOUVER, BC, Jan. 30, 2023 /PRNewswire/ - Planet Based Foods Global Inc. (CSE: PBF) (OTCQB: PBFFF) (FRA: AZ0) ("PBFG", "Planet Based Foods" or the "Company") is pleased to announce that the Company has reached an agreement with major southwestern grocery retailer, Fry's Food and Drug (or "Fry's"), to offer Planet Based Foods' nutrient-rich "superfoods" in select stores.

Fry's is a popular grocery retail chain based out of Arizona, and offers a wide array of bakery items, dairy, deli, frozen foods, general grocery, meat, pharmacy, produce, seafood, snacks, and  liquor. As of late, Fry's has begun offering more sustainable and health-conscious foods, the timing of which bodes a great opportunity for the Company. In total, there are 123 Fry's locations across the state of Arizona.

Planet Based Foods advertises that its products are both good for the consumer and good for the planet, as the Company's products offer a complete source of protein, is rich in dietary fiber, B vitamins, magnesium, iron and essential fatty acids. Planet Based Foods' mandate is to unlock the potential of hemp-based food products. Hemp has been known to regenerate soil, require less water to grow and is a natural repellent to harmful elements, indicating it does not require any pesticides. 

When asked about the new agreement with Fry's, Braelyn Davis, Planet Based Foods CEO and co-founder had this to say, "This is a great opportunity for us as we establish our presence in the American Southwest. We're thrilled that our products are becoming more accessible to consumers, and appreciate the successful reception of our products on shelves across the USA. In 2023, Planet Based Foods will be looking to improve brand recognition as we engage with more grocery stores and supermarket retailers."

About Fry's Food and Drug

Fry's Food and Drug is a chain of supermarkets that has a major presence in Arizona. Fry's also operates under the banner of Fry's Marketplace, a combination of groceries and general merchandise comparable to a Walmart Supercenter. Fry's is a division of Cincinnati, Ohio-based Kroger since a merger in 1998¹. Details pertaining to this definitive agreement can be found on the news release dated November 15, 2022 with Kroger and can be found here.

About Planet Based Foods

PBFG, through its wholly-owned subsidiary in San Diego, California, Planet Based Foods, is a producer of sustainable plant-based meat substitutes. Planet Based Foods was founded in 2018 in San Diego, California with a mission to build a better food system by providing hemp-formulated superfood products to people today that support our planet tomorrow, all Planet Based Foods products are 100% vegan. Planet Based Foods creates clean, non-GMO, nutrient-dense food that's built for the future: the first line of plant-based meats with sustainable hemp as the number-one ingredient. Founded by former nutrition coach and cannabis marketer Braelyn Davis, food scientist and plant-based pioneer Robert Davis, and restaurant industry veteran Ted Cash, the company is on a mission to establish hemp as a nutrient-dense protein source that can feed the world sustainably for generations to come. Planet Based Foods' suite of products includes its new consumer line of nutritious frozen foods, as well as plant-based meat ingredients and handheld comfort foods for foodservice and restaurants.

For further details about the Company and the listing transaction, please refer to the Company's listing statement at www.thecse.com as well as the Company's profile at www.sedar.com. To view information about the Company and subscribe to automated email alerts for future news and public filings, visit the Planet Based Foods website at www.planetbasedfoods.com. 

On Behalf of the Board

Braelyn Davis
CEO and Co-Founder

Forward-Looking Statements

Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "assume" "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward looking statements. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Source:

1. Matassa Flores, Michele; Heim, Joe (October 20, 1998). "Attention Shoppers: We've Been Sold — Again". The Seattle Times. Archived from the original on August 9, 2018. Retrieved November 14, 2022

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SOURCE Planet Based Foods

FAQ

What is the new agreement Planet Based Foods has announced with Fry's Food and Drug?

Planet Based Foods has signed an agreement to supply its products to selected Fry's Food and Drug stores in Arizona.

How many Fry's locations will carry Planet Based Foods products?

A total of 123 Fry's locations in Arizona will offer Planet Based Foods' products.

What products does Planet Based Foods offer?

Planet Based Foods offers hemp-based superfood products that are nutrient-rich, sustainable, and 100% vegan.

What are the goals of Planet Based Foods in 2023?

In 2023, Planet Based Foods aims to improve brand recognition and engage with more grocery retailers.

What benefits do Planet Based Foods' products provide?

Their products are a complete source of protein, rich in dietary fiber, B vitamins, magnesium, and iron.