Planet Based Foods Announces Pacific Northwest Expansion

Rhea-AI Summary

Planet Based Foods Global Inc. (CSE: PBF, OTCQB: PBFFF) announced strategic agreements with Quality Food Centers (QFC) and Fred Meyer, expanding product availability to 56 QFC and 86 Fred Meyer stores across Washington, Oregon, and Idaho. This initiative follows their earlier partnership with Kroger, which enhances their regional distribution in the Pacific Northwest. CEO Braelyn Davis highlighted the growing consumer demand for health-conscious food alternatives, stating the company is focused on sustaining its notable growth trajectory.

Positive

• Expansion of distribution to 142 stores enhances market presence.
• Partnership with established chains aligns with consumer demands for plant-based products.

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• None.

VANCOUVER, BC, Jan. 17, 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 entered into a pair of definitive  agreements with renowned supermarket chains, Quality Food Centers (or "QFC") and Fred Meyer (collectively known herein as the "Supermarkets").

Consumers seeking Planet Based Foods' nutritious plant-based alternatives will be able to find the Company's products across 56 QFC stores in Washington and Oregon, as well as 86 Fred Meyer stores throughout Washington, Oregon and Idaho. This announcement derives from Planet Based Foods' November 15th, 2022, major press release confirming the partnership with mainstream grocery distributor, Kroger. Both QFC and Fred Meyer are two subsidiaries of Kroger since their respective mergers in 1998¹.  Details regarding the Kroger and Planet Based Foods announcement can be found here.

When asked for comment, Braelyn Davis, Planet Based Foods CEO and co-founder stated, "The customer is always right, and they're demanding more health-conscious food alternatives each and every day. We're excited to grow our regional distribution in the Pacific Northwest and partner with these exemplary supermarket retailers to showcase our products. As for what's most important for us right now, it would have to be keeping up with the demand for our products, and sustaining our notable growth trajectory."

About QFC

QFC is a supermarket chain with 62 stores in the Puget Sound region of the state of Washington and in the Portland, Oregon, metropolitan area. Founded in 1955, QFC (formerly known as Lake Hills Thriftway until 1963¹) is a popular subsidiary of Kroger since the companies merged in 1998.  The supermarket chain has recently commenced offering more health-conscious foods, which is evident from partnerships with emerging companies in the food technology and meat alternative industries such as Planet Based Foods. QFC still offers staple products including snacks, dairy, bakery, frozen foods, general grocery, gasoline, meat, pharmacy, produce and seafood. QFC is headquartered in Bellevue, Washington.

About Fred Meyer

Fred Meyer is an American chain of supermarkets that was founded in 1922 in Portland, Oregon by Fred G. Meyer. The supermarket chain merged with Kroger in 1998, though stores remained with their original name Fred Meyer to sustain brand recognition. The stores are found throughout the Pacific Northwest including those in Oregon (headquarters), Washington, Idaho and Alaska. Fred Meyer has been a grocery pioneer since its inception. As one of the first in the United States to offer one-stop shopping, the supermarket retailer is now partnering with food technology and plant-based alternative producers to remain ahead of the curve, and keep up with current consumer trends. Currently, there are over 130 Fred Meyer locations.

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 latest news from Planet Based Foods Global Inc. (PBFFF)?

Planet Based Foods announced new distribution agreements with Quality Food Centers and Fred Meyer, expanding their reach in the Pacific Northwest.

When did Planet Based Foods expand its distribution?

The announcement regarding the distribution expansion was made on January 17, 2023.

How many stores are carrying Planet Based Foods products after the latest announcement?

Planet Based Foods products will be available in 142 stores total across Washington, Oregon, and Idaho.

What companies are involved in the new distribution agreements with Planet Based Foods?

The new distribution agreements involve Quality Food Centers (QFC) and Fred Meyer.