Real Good Foods Announces First International Expansion into the Canadian Club Channel
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Insights
The entry of The Real Good Food Company into the Canadian market represents a strategic move that taps into the growing health-conscious consumer segment. With the increasing demand for low-carbohydrate and high-protein options, the company's product differentiation is clear: offering burritos with significantly lower glycemic carbohydrates and higher protein content compared to existing market offerings. This positioning is likely to resonate with health-aware consumers, potentially increasing the company's market share in the health and wellness segment.
Given the product's alignment with current nutritional trends, this expansion could lead to increased brand visibility and customer base growth. However, the success of this venture will hinge on effective marketing, distribution and the ability to navigate the complexities of international trade and consumer preferences. The company's future plans to diversify its product offerings in Canada suggest a long-term commitment to establishing a significant presence in the market.
The announcement of Real Good Foods' expansion into the Canadian club channel is a significant milestone that could have positive implications for the company's revenue streams and diversification of its market risk. Entering the international arena, particularly in a market with demonstrated demand for their product, may provide an additional revenue source that could enhance the company's financial health.
Investors should monitor the company's quarterly financials following the product launch to assess the impact of international sales on the overall revenue. It will be crucial to evaluate the cost of this expansion against the incremental revenue generated to gauge the profitability of the Canadian operations. The company's ability to scale and manage logistics and supply chain costs in a new market will be critical factors in determining the financial success of this venture.
The Real Good Food Company's focus on low-carb, high-protein burritos aligns with the current consumer shift towards more nutritious and diet-specific foods. The nutritional profile of these burritos, with significantly reduced high glycemic carbohydrates, is designed to appeal to individuals managing their carbohydrate intake, such as those following ketogenic or low-carb diets.
The health and wellness industry has seen a surge in demand for products that support a healthy lifestyle and Real Good Foods' strategy to capitalize on this trend through product innovation and international expansion is noteworthy. The success of this product line in Canada will depend on the company's ability to communicate the health benefits effectively and to ensure that the taste and quality meet consumer expectations. As the company expands its product offerings, maintaining a strong nutritional profile will be essential to differentiate from competitors and to build brand loyalty.
CHERRY HILL, N.J., Feb. 13, 2024 (GLOBE NEWSWIRE) -- The Real Good Food Company, Inc. (Nasdaq: RGF) (“Real Good Foods” or the “Company”), a leading health and wellness frozen and refrigerated foods company, today announced the national launch of its refrigerated burritos into the Canadian club channel – marking the Company’s first international sales.
This international expansion is another step forward to fulfilling Real Good Foods’ mission to make nutritious foods more accessible to people everywhere and help them to live healthier lives. The Real Good Foods Burritos have more protein and far less carbohydrates than leading brands in stores today. In fact, the leading burrito offerings in Grocery stores today have approximately 40-50g of high glycemic Carbohydrates per serving, and Real Good Foods has a fraction of this while providing more protein.
These Low Carb Burritos will be merchandised in the refrigerated section of Club/Wholesale stores across Eastern & Western Canada beginning in February 2024. They are currently available across the U.S. in both the retail and club channels. To find a store near you, please visit www.realgoodfoods.com.
Bryan Freeman, Executive Chairman of The Real Good Food Company, said: “Our mission is to make people’s favorite foods more nutritious, and we are thrilled to launch our low carb burritos to consumers across Canada. This highly incremental distribution win addresses the demands of Canadian consumers, who have continuously requested we launch in their region. While we are starting our initial rollout in Canada with our burritos, we will seek to further grow the depth of our Canadian penetration with other products over time.”
About Real Good Food Company
Real Good Foods (NASDAQ: RGF) is a leading health and wellness frozen and refrigerated foods company, providing a better way to enjoy your favorite foods. The Company’s mission is to provide “Real Food You Feel Good About Eating”, making delicious, nutritious foods that are low in sugar, low in carbohydrates and high in protein. The Real Good Foods family of products includes breakfast, lunch, dinner, and snacks – available in over 16,000 stores nationwide with additional direct-to-consumer options.
To learn more, please visit our website at realgoodfoods.com or join us on social media @realgoodfoods – where we maintain some of the largest followings in the frozen food industry today.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding its projected financial results, including net sales, adjusted gross margin, and adjusted EBITDA and its ability to increase production at its new facility, improve profitability and meet its long-term growth objectives. The Company has attempted to identify forward-looking statements by using words such as "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," or "would," and similar expressions or the negative of these expressions.
Forward-looking statements represent management's current expectations and predictions about trends affecting the Company’s business and industry and are based on information available as of the time such statements are made. Although the Company does not make forward-looking statements unless it believes it has a reasonable basis for doing so, it cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by the forward-looking statements. Some of the risks and uncertainties that may cause its actual results to materially differ from those expressed or implied by these forward-looking statements are described in the section entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2022, and other documents filed with or furnished to the Securities and Exchange Commission by the Company from time to time.
In addition, readers are cautioned that the Company may make future changes to its business and operations in response to the impacts of the COVID-19 pandemic, supply chain disruptions and macroeconomic challenges, or in response to other business developments, which changes may be inconsistent with the Company’s prior forward-looking statements, and which may not be disclosed in future public announcements.
Investor Relations Contact
Akshay Jagdale
(856) 955-1453
ir@realgoodfoods.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/955f06e1-c773-4c20-8606-732de344b2f6
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