pual
3 years ago
Eat Beyond Portfolio Company, The Very Good Food Company, Expands Production Capacity
08/19/2021 9:00:00 AM
VANCOUVER, BC, Aug. 19, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company The Very Good Food Company (TSXV: VERY) ("VERY GOOD") is ramping up production at its Rupert facility and is poised to begin initial production at its California facility.
At its Rupert facility, located in Vancouver, Canada, the first production line ("Line 1") is now producing four times the daily production volume of VERY GOOD's Victoria facility. Line 1 was commissioned in April 2021 with some food production starting in May. Currently producing an average of 13,000 lbs of product per day, Line 1 will ramp up production with a target of producing 60,000 lbs of product per day in Q1 2022 in order to support the increasing demand for VERY GOOD's products.
VERY GOOD will be also commissioning its second production line ("Line 2") at the Rupert facility in Q4 2021 which will be dedicated to the production of its new highly anticipated gluten-free and soy-free Butcher's Select Line. This premium line is set to compete with the likes of Beyond Meat and Impossible Foods by packing an extra meaty taste and texture while using simple and wholesome ingredients. The Butcher's Select line will not only appeal to households interested in a more plant-based diet but also extends VERY GOOD's consumer base to the estimated 30% of Americans who avoid gluten. Line 2 will also allow for expansion into the North American food service channel, as VERY GOOD recently partnered with two leading meal kits and food service providers.
"By acquiring its first large-scale, 45,000 sq ft production facility, VERY GOOD has been able to expertly scale its production line capacity," said Eat Beyond CEO Michael Aucoin. "The addition of the Rupert facility's manufacturing capability is important as the demand for VERY GOOD products grows and as the Butcher's Select line will move the brand more directly into competition with Impossible Foods and Beyond Meat in the plant-based protein sector."
VERY GOOD will also begin initial food production at its Patterson facility, in California, starting in September. Production will start on a commercial-grade kitchen equipment line to fast-track the production of Taco Stuff'er, one of VERY GOOD's most in-demand SKUs. Installation of the facility's first major production line is underway and is targeted for completion in Q2 2022. Once commissioned, Patterson's Line 1 will produce The Very Good Butchers' various unique products which have not yet been scaled and will have the capability to make the brand's original suite of products. Once commissioned, Line 1 is expected to produce an average of 27 million lbs of product per year when fully operational.
"The expanded production capacity in major markets along the West Coast enables VERY GOOD to further expand its product listings and SKUs which will help drive sales to its e-Commerce and retail channels," Aucoin said. "In addition, the balanced product portfolio will help VERY GOOD diversify its revenue streams by growing additional partnerships in the food service channel, an important market opportunity for plant-based food producers."
pual
3 years ago
Eat Beyond Portfolio Company Nabati Foods Builds New Facility -
05/25/2021 9:00:00 AM
VANCOUVER, BC, May 25, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company Nabati Foods Global Inc. ("Nabati Foods") recently completed construction of a new manufacturing facility in Edmonton, Alberta. The building is roughly five times larger than the original pilot plant.
Nabati Foods offers whole, natural, plant-based, foods including dairy-free cheesecakes, cheese alternatives, and plant-based meats. Its products are compatible with most dietary restrictions or preferences and are free of all common allergens. The products are non-GMO and contain no refined sugars, dairy, eggs, gluten, or soy
"With this new facility, Nabati Foods is now capable of producing 1.2 million pounds of plant-based Cheeze and about 1 million pounds of plant-based meat, with capacity potentially continuing the increase as the equipment is upgraded," said Patrick Morris, CEO of Eat Beyond. "Nabati Foods has wisely reinvested a portion of its $7.7 million capital infusion from its recent oversubscribed financing round into this project. Eat Beyond is confident that Nabati will quickly see a significant return on that investment as it extends its geographic reach across North America and eventually into Europe.
Nabati Foods will also house its research and development department in the new facility and will continue to expand its team.
"Demand for our products, especially Nabati Cheeze, has been so enormous, that we had waiting lists that were several months long," said Ahmad Yehya, CEO of Nabati Foods. "This new production space will enable us to keep pace with increasing demand and supply our growing list of clients."
Eat Beyond looks forward to continuing its partnership, counsel, and financial support for Nabati Foods' high-quality products, innovative product lines, and growing distribution network.
pual
4 years ago
Eat Beyond Portfolio Company good natured® Announces Major Acquisition - 05/18/2021 9:00:00 AM
VANCOUVER, BC, May 18, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company good natured® (TSXV: GDNP) has acquired the operating assets of Ex-Tech Plastics Inc ("Ex-Tech"), for cash consideration of $14.1 million (USD). The deal is anticipated to close later in May.
Ex-Tech Plastics manufactures high-quality, rigid plastic sheets. Its stated mission is to create pathways to a greener future through the production of environmentally responsible materials. Founded in 1982, Ex-Tech has steadily grown to be a market leader in cost-effective customized plastic solutions for businesses.
"Following a strong financial first quarter, Eat Beyond is happy to see portfolio company good natured® continue its positive momentum with this significant acquisition of a long-tenured plastics company based in Illinois," Eat Beyond CEO Patrick Morris said. "Ex-Tech offers six different material types, offering a key part of the value chain as businesses and consumers look for sustainable, environmentally friendly products and services."
good natured® offers nearly 400 different products and services. It is one of the largest North American suppliers of eco-conscious products made without petroleum and free from BPAs, phthalates, and other chemicals of concern.
Ex-Tech generated $25.8 million USD ($33 million CAD) in the 2020 fiscal year which will enable good natured® to nearly double its revenue following the acquisition. At closing, good natured® will gain $3.25 million in working capital.
"This is the third acquisition by good natured® in the past year, which will add 105 business-to-business customers for good natured®, growing its tally to approximately 600 while providing cost synergies and opportunities to scale operations," Morris said. "Real estate gains will also increase total assets to nearly $10 million, as good natured® gains an impressive midwestern market presence, not far from the third-largest city and seventh largest cargo airport in America."
pual
4 years ago
PR NEWSWIRE
Eat Beyond adds Daydream Hemp and Adaptogen Drinks to its Portfolio - 05/13/2021 9:00:00 AM
VANCOUVER, BC and TORONTO, May 13, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTC: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, announced it has invested in Daydream Drinks Inc. ("Daydream"). Daydream is an Ontario-based beverage company that has created Canada's first sparkling water infused with hemp extracts and adaptogens.
Daydream's hemp oil contains below 0.03% CBD and zero THC, making Daydream a non-cannabis product. Hemp and adaptogens have a range of benefits, making them a suitable option for Canadian grocery and retail stores.
Eat Beyond joins Global Edge Investments, a Toronto-based investment and management company, and other industry veterans, such as Jorn Socquet, a 14-year executive from ABinBEV, as an early-stage investor in Daydream.
"When creating Daydream, our vision was based on the fundamental principle that there was a gap in the market for something that wasn't coffee or an energy drink, but instead a healthy, plant-based alternative, with no caffeine, sugar, or artificial sweeteners," said Alex Simonelli, Founder and CEO of Daydream. "Adaptogens help the body tap into natural energy reserves to provide focus and clarity. They are also well known for balancing stress levels by supporting the endocrine system, and keeping inflammation in check."
Daydream has seen impressive growth since launching in late 2019, with year-over-year revenue jumping 550 percent in 2020. The distinct, colourful gradient cans are comfortably on pace to reach more than 1000 stores across Canada by the end of 2021, a roughly 2,300 percent increase from its debut year. Projections show Daydream is on track for another triple-digit year of revenue growth.
"Eat Beyond welcomes its first beverage company to our ever-growing food technology portfolio. We like the idea that not only can people eat better but drink better too," Eat Beyond CEO Patrick Morris said. "Daydream has shown impressive growth in its brief history and is well-positioned to capture even more of the beverage market in the years ahead. Its unique and strong branding has positioned it well in the industry for organic, word-of-mouth growth, which is critical for any product that contains hemp as an ingredient in Canada."
Eat Beyond Investment Committee Member Alan Linder has also signed on to join Daydream's advisory board. Linder has nearly three decades of experience in the natural/organic food and grocery industry.
"Eat Beyond offers much more than just financial support to our portfolio companies," said Alan Linder, Eat Beyond investment committee member and Daydream advisor. "We work hands-on with our portfolio companies to help them navigate growth and connect them with resources. I look forward to working closely with Daydream to catalyze its growth."
Learn more about Daydream and subscribe for updates at: https://drinkdaydream.com/
pual
4 years ago
Eat Beyond Portfolio Company Nabati Now Supplying Plant-Based Cheeze to Mucho Burrito - 04/27/2021 9:00:00 AM
VANCOUVER, BC, April 27, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company Nabati Foods Global Inc. ("Nabati Foods") is now supplying its plant-based Nabati Cheeze to Mucho Burrito.
Mucho Burrito is an established, fast casual Mexican restaurant headquartered in Ontario, with locations across Canada.
Nabati Foods makes whole, plant-based food products including plant-based Cheeze shreds, which have been added to the menu at 140 Mucho Burrito locations across Canada as of April 12, 2021.
"Nabati Foods Global continues to diversify its revenue streams across multiple distribution channels, this is likely a key reason that the company continued to post strong sales numbers, despite the challenges of the global pandemic," Eat Beyond CEO Patrick Morris said. "Nabati is well positioned for rapid growth, and the company is scaling its production capacity in order to take advantage of growing demand for its products."
Founded in Edmonton in 2014, Nabati Food has curated a unique product line compatible with nearly any dietary restriction or preferences. All Nabati Food products are kosher and made without GMOs, refined sugar, dairy, eggs, or gluten.
"The overwhelmingly positive response to our Nabati Cheeze product is a testament to the care and attention that the Nabati team has put into the R&D of these products. It is important to us to make high quality, healthy food that tastes great and brings people together," Nabati Foods Global CEO Ahmad Yehya said. "We will continue to aggressively pursue valuable commercial partnerships following this successful launch with Mucho Burrito."
pual
4 years ago
Eat Beyond Portfolio Company, The Very Good Food Company, Announces Upgraded Facility is Now in Operation - 04/20/2021 9:00:00 AM
VANCOUVER, BC, April 20, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc.
(CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company The Very Good Food Company Inc. (TSXV: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("Very Good") has commissioned its first production line and has butchered its first bean at an upgraded, retooled manufacturing facility in Vancouver, British Columbia.
"The 45,000 square foot facility will significantly boost Very Good's production capacity to meet significant online and retail demand for its plant-based meat alternatives," said Eat Beyond CEO Patrick Morris. "Eat Beyond took a strong financial stake with The Very Good Food Company because of its value, foresight, and vision for the present and future of food. We're excited to see this infrastructure development, positioning Very Good for a successful 2021 and the potential for even bigger growth in the years ahead."
Very Good's new facility can produce up to 37 million pounds of annualized products, ultimately increasing capacity by nearly 2,690%. The line will produce seven of its existing products with a goal of adding a second production line in late 2021, with food production to follow.
Very Good has developed 15 products since its founding as the first plant-based butchery on the west coast of Canada. Very Good conducts advanced research and development along with manufacturing and retail space in over 301 stores in Canada.
"Eat Beyond sees Very Good as an emerging food tech company with the talent, drive, and resources to support all aspects of creation and sales with solid brand recognition," Morris said. "In sum, Very Good is an ideal combination of factors and influence that we look for across Eat Beyond's diversified portfolio of advanced food tech companies."
Learn more about the Very Good Food Company online at https://www.verygoodbutchers.com/
Marketing agreement
Eat Beyond also announces it has engaged Sideways Frequency for native advertising and digital marketing services to increase brand awareness for the Company. Certain services to be provided by Sideways Frequency are anticipated to include investor relations activities under the policies of the CSE and applicable securities laws. The Company will compensate Sideways Frequency USD $250,000 for a term of six weeks and will continue to look at strategic consultants to expand awareness of the Company and its activities.
pual
4 years ago
Eat Beyond Portfolio Company Nabati Now Supplying Plant-Based Nabati Cheeze to Mucho Burrito - 04/13/2021 9:00:00 AM
VANCOUVER, BC, April 13, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company Nabati Foods Global Inc. ("Nabati") has forged a corporate partnership with Mucho Burrito.
Nabati makes whole, plant-based food products including cheeze shreds, which have been added to the menu at 140 Mucho Burrito locations across Canada as of April 12, 2021. Mucho Burrito is an established, Mexican fast casual restaurant headquartered in Ontario. Nabati also recently began supplying its Cheeze to COBS Bread for its Beyond Sausage® Arrabbiata Mini Pizza.
"Nabati has seen tremendous growth in the past year, and foodservice is an especially hot segment for the company," Eat Beyond CEO Patrick Morris said. "Nabati's diversified revenue streams from foodservice, grocery, and industrial customers has enabled it to not only weather the economic challenges related to the pandemic extremely well, but has also allowed it to grow and scale quickly."
Founded in Edmonton in 2014, Nabati has curated a unique product line compatible with nearly any dietary restriction or preferences. All Nabati products are kosher and made without GMOs, refined sugar, dairy, eggs, or gluten.
"Nabati Cheeze is highly desirable to the foodservice industry because it is free of common allergens and melts like real cheese," said Ahmad Yeyah, CEO of Nabati. "We make our products in Canada, so there is a special pride that comes with supplying a Canadian chain like Mucho Burrito. We look forward to working with the brand and other great foodservice partners in the coming year."
pual
4 years ago
The Age of Plants - Premium Plant-Based Products Hitting Mainstream Retail Markets - 04/07/2021 8:00:00 AM
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - April 7, 2021) - Investorideas.com, a leading investor news resource covering functional mushrooms and plant-based food alternatives releases a special report on the numerous plant-based product launches in the US and Canada, both in traditional brick and mortar retail and online sales, featuring Rritual Superfoods Inc. (CSE: RSF) (FWB: 0RW). This growing trend speaks to the major shift in the food and beverage industry towards sustainable plant-based alternative products driven by more eco-friendly and health conscious consumerism.
Read the full article on plant -based stocks
https://www.investorideas.com/news/2021/food/04061Plant-Based-Products.asp
Progressive Grocer reports, "The plant-based food market grew nearly twice as fast as the total U.S. retail food market, which increased 15% in 2020 as the pandemic closed down restaurants and consumers stockpiled food while hunkering down at home. Fifty-seven percent of households now buy plant-based foods, up from 53% in 2019. The data, which PBFA and GFI commissioned from wellness-focused data technology company SPINS, was customized to target only plant-based products that directly replace animal-based products."
Rritual Superfoods Inc. (CSE: RSF) (FWB: 0RW), a functional superfood company that creates plant-based elixirs which support immunity, focus and relaxation, recently announced that the Company's premium brand of functional superfoods will launch in Rite-Aid stores throughout the USA in Q2 and Q3.
"This first national retail rollout is a major achievement for the Rritual brand. It validates both supply and demand for the category, specifically our product quality and the rapidly growing interest of consumers in functional superfoods," said Mr. David Kerbel, Rritual Superfoods CEO.
"We are striving to not only lead this emerging category, but to define it. A significant part of achieving that goal is accomplished through gaining the trust and support of consumers through top tier retailers such as Rite-Aid."
Rritual has scaled its production to meet growing demand, with a strategic sales and marketing focus aimed at major retailers across the USA in 2021. The Rite-Aid rollout will be phased toward reaching 1000 retail stores, in addition to Rite-Aid's ecommerce platform. Rritual's retail strategy is disruptive. The Company is aiming at national retailers rather than regional rollouts in order to gain market share and category defining leadership.
Rite-Aid will carry Rritual's full product line, including:
Chaga IMMUNE with adaptogens Eleuthero Root and Astragalus to support healthy immune function and well-being all year round.
Lion's Mane FOCUS with adaptogens Rhodiola Rosea Root and Bacopa to support brain health and cognitive function.
Reishi RELAX with adaptogen Ashwagandha and cacao to help the body adapt to stress.
Rritual product offerings are all USDA-certified organic and are a caffeine-free option that can be mixed with other beverages or enjoyed by itself. Rritual's proprietary Immune-Synergy Six Mushroom Blend is the only functional health product on the market that contains a daily prebiotic blend which nourishes a healthy gut microbiome and facilitates balanced digestive function.
David Kerbel, CEO of Rritual Superfoods Inc. in an interview recently discussed Rritual Superfoods line of functional mushroom and adaptogen formulations, as well as the growing 'Superfoods' and 'Functional Foods' categories as a whole.
According to Grandview Research, "The global superfoods market size was estimated at USD 137.0 billion in 2018 and is projected to ascend at a CAGR of 7.9% over the forecast period. Growing consumer interest in a healthy diet and wellness benefits has led to a thriving food & beverage industry in the recent past and this trend is expected to continue over the forecast period. This, in turn, is projected to propel the demand for superfoods in the coming years."
ELSE NUTRITION HOLDINGS INC, a plant-based baby, toddler and children's nutrition company, is also upping distribution, having recently announced that it has signed a distribution agreement with US-based Imperial Distributors of Worcester, Massachusetts. Imperial is recognized throughout the Northeast, South Atlantic and Midwest United States as a leader in distribution, merchandising and category management.
"Partnering with Imperial distribution offers a regional view and a strategic relationship with several regional mid-tier and key accounts in New England and beyond. They're indeed a distribution leader throughout the Northeast and Mid-Atlantic states," said Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition. "We look forward to Imperial playing a key role in our growth in this core region, commencing with Big Y in April of this year," she added.
This follows their previous announcement of rolling out its Plant-Based Complete Nutrition for Toddlers at over 100 Raley's, Bel Air Markets and Nob Hill Foods locations in Northern California and Nevada in April 2021.
"This marks excellent distribution growth for our organization. We've decided to strategically secure rapid coverage in the Northern California and Nevada regions, and this listing with Raley's greatly advances us on this path," said Ms.Yitzhak. "Raley's maintains a family-owned culture with a true understanding and commitment to the customer experience. They have championed health and wellness for generations and are helping to change the way people eat. This aligns with the Else mission of bringing sustainable, better-for-you, balanced nutrition solutions and touching lives in a meaningful way."
Eat Beyond Global Holdings Inc., the first fund in Canada focused on investing in global companies that are developing and commercializing innovative food products including alternatives to meat, seafood, eggs, and dairy, recently announced the success of its recent investment in The Very Good Food Company Inc. at a price of $0.25 per Common Share.
The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a variety of plant-based meat and other food alternatives. Their mission is to employ plant-based food technology to create products that are delicious while maintaining a wholesome nutritional profile and to date they have developed a core product line under The Very Good Butchers brand.
VGF completed its initial public offering including the full exercise of the over-allotment option by the agent for the Offering, Canaccord Genuity Corp., led by Portfolio Manager and Investment Advisor, Cary Pinkowski, resulting in the issuance of 16,100,000 common shares of the Company at a price of $0.25 per Common Share for gross proceeds of $4,025,000.
"We are thrilled to see The Very Good Food Company, another major plant-based IPO, mirroring the success of Beyond Meat. There is clearly extraordinary confidence in this market, and enormous demand for plant-based products," said Patrick Morris, CEO of Eat Beyond. "We are excited to continue investing in this growing sector and continuing to be a part of more success stories like this one."
This follows Eat Beyond Global Holdings Inc.'s more recent news that it has been selected as one of just 21 companies worldwide to be included in the VegTech™ Index.
The VegTech™ Index is the first index of its kind and includes leading publicly traded plant-based companies. The goal is to provide a fiscal scoreboard using market cap-weighted performance to show the overall financial health and strength for the sector.
"Investors can always look at the Dow Jones or NASDAQ for a look at general market numbers and averages for major companies," Morris said. "But this new index is a great opportunity for investors and analysts to be able to access a snapshot of the growing plant-based and alternative food market specifically."
NEXE Innovations Inc., a leader in plant-based compostable technology and advanced materials manufacturing based in British Columbia, Canada, is going a slightly different route to market, having recently reported launching its highly anticipated Xoma Superfoods eCommerce store.
The company has developed one of the only patented, fully compostable, plant-based, single-serve coffee pods for use in leading single-serve coffee machines. The proprietary NEXE pod is designed to reduce the significant environmental impact caused by single-serve pods, >40 billion of which are discarded every year. With over $30M raised to date from equity and government funding and over five years of R&D, NEXE is well-positioned to meet the growing demand for environmentally friendly and sustainable products in the single-serve coffee sector and beyond.
Xoma Superfoods is NEXE's in-house coffee and superfoods brand, launching with a line of high-quality coffees packaged exclusively in single serve, fully compostable, plant-based NEXE pods. XOMA capsules work in Keurig single-serve brewing systems and are now available in 12-count.
"Xoma products provide convenience, making it easy to integrate more superfoods into your diet without creating additional waste, or making a mess of your kitchen," said Ash Guglani, President of NEXE. "We have spent five years developing our NEXE pod, and we are proud to launch it into the market with our Xoma Superfood coffees."
"This is a major milestone for NEXE and Xoma. Our initial pilot launch of our 3-count packages of Xoma Coffee fortified with MCT sold out within 24 hours," he continued. "Our customers have patiently waited for this day, and we are very excited to fully launch."
NEXE pods are fully compostable and meet international standards for certification as compostable materials, without the need to disassemble the pod after use. Over 40 billion petroleum-based single-serve coffee pods end up in landfills around the world every year, where they can take hundreds or thousands of years to break down.
According to one recent article, "The plant-based category has evolved to the point that retailers can't limit who they consider the plant-based shopper," said Dawn Vanlandingham, head of retail for SPINS. "They should now assume everyone is a potential plant-based buyer and educate them enough to see the possibilities. Between the innovation in plant-based products and the gradual return to less restrictive shopping measures, 2021 offers many opportunities for retailers to appeal to more customers and expand their plant-based offerings."
Looking at how this translates to investing, Good Food Institute reported,"This strong growth in retail sales is a welcome compliment to equally impressive growth in investment dollars in the plant-based space. A record $2.1 billion was invested in plant-based food companies in 2020, highlighting growing interest in plant-based foods from both consumers and investors."
Whether you are looking at functional mushrooms, plant-based meat and dairy alternatives, medicinal mushrooms and cannabinoid medications, fungal soil and waste remediation or even hemp and plant-based textiles and plastics, it is clear the age of plants is upon us.
About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea's original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change , Exploring Mining the AI Eye.
pual
4 years ago
Eat Beyond Portfolio Company TurtleTree Labs to Produce Cell Culture Media at Commercial Scale - 03/30/2021 9:00:00 AM
VANCOUVER, BC and SINGAPORE, March 30, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company TurtleTree Labs Pte. Ltd. ("TurtleTree") has signed an agreement to collaborate with JSBiosciences to create cell culture media at commercial scale.
TurtleTree is a Singapore-based biotechnology startup that is pioneering the production of breast milk and the naturally occurring components within it through cell-based technology. One of TurtleTree's key aims is to close the gap between the infant formula offered today and the goodness in natural breast milk.
"We are employing the best available scientific research technologies to fill a major gap in infant nutrition with the goal of benefitting the long-term health of babies, parents, and the planet," said Fengru Lin, CEO of TurtleTree. "Working with JSBioscience will enable TurtleTree to integrate biopharmaceutical technology into the entire cell agriculture industry."
JSBiosciences is a leading cell culture media supplier that boasts strong independent innovation and R&D capabilities and has established world-class R&D laboratories in the United States, China, and Singapore. Working with JSBiosciences will help TurtleTree expand its manufacturing and commercialization in Singapore in a cost-effective manner, aiding the company's financial position and cash flow.
This partnership with JSBiosciences will provide TurtleTree with a larger supply of food-grade basal media and media formulation services. This will drive down costs for TurtleTree customers, clearing a path for large-scale production of its proprietary cell agriculture technology.
"The team at Eat Beyond see's cell agriculture technology as a key area in the future of food. Companies like TurtleTree have the potential to reinvent our food systems in a positive, more sustainable way." Eat Beyond CEO Patrick Morris said. "Singapore is truly the epicenter of cell agriculture, and we have put a strategic focus on the area in order to participate in and support the growth of this sector as much as possible."
The global infant nutrition market is projected to eclipse $100 billion by 2026 according to Facts and Factors Research.
Learn more about Turtle Tree Scientific and its innovation, values, and vision online at https://turtletree.co/
About TurtleTree Scientific
TurtleTree Scientific was founded out of a desire to solve the challenges of cellular agriculture and overcome common obstacles in the industry. The company produces food-grade and pharma-grade growth factors and cell culture media that have high bioactivity, superior yields and price levels. By designing the necessary foundations for the cellular agriculture ecosystem to thrive, TurtleTree Scientific is providing solutions that will deliver the latest technology at an accessible price for all. TurtleTree Scientific is started by TurtleTree and is led by an experienced team of industry professionals.
pual
4 years ago
Eat Beyond Portfolio Company Eat Just Closes US$200 Million in New Funding - 03/25/2021 9:00:00 AM
VANCOUVER, BC, March 25, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company Eat Just Inc. ("Eat Just") has completed a $200 million (USD) funding round. Eat Just has raised more than $650 million since its founding in 2011 and has earned a valuation of more than $1 billion.
Eat Just applies cutting-edge science and technology to create healthier, more sustainable foods. The company's expertise, from functionalizing plant proteins to culturing animal cells, is powered by a world-class team of scientists and chefs spanning more than a dozen research disciplines. Eat Just's products are available at 20,000 retail points of distribution and 1,000 foodservice locations.
The $200 million funding round was led by the Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar; joined by private investment firm Charlesbank Capital Partners and Vulcan Capital, the investment arm of the estate of Microsoft co-founder and philanthropist Paul G. Allen.
The capital will be utilized to advance company R&D, enhance commercial manufacturing, and further promote Eat Just's brand globally. Eat Just recently partnered with a leading quick service restaurant in China and Peet's Coffee in North America to serve its JUST Egg product. In Canada JUST Egg is available in 1,000+ retail stores, including major retailers, and will soon be expanding into foodservice with restaurants such as Copper Branch, a plant-based Canadian restaurant chain. To date, Eat Just has sold the plant-based equivalent of 100 million eggs.
In late 2020, Eat Just secured the first-in-the-world regulatory approval for real, high-quality meat created directly from animal cells for human consumption and weeks later made history when its GOOD Meat-branded cultured chicken was served and sold to guests for the first time at a restaurant.
"We are thrilled to see this continued momentum for Eat Just. Their JUST Egg and GOOD Meat branded cultured chicken products are truly pioneering in this new space - and consumers are excited," said Patrick Morris, CEO of Eat Beyond. "We are at a key inflection point in history, and food production may well look remarkably different on a large scale within the next decade with companies like Eat Just developing cutting-edge, sustainable solutions to our future food needs."
The JUST Egg packs similar protein to conventional eggs but zero cholesterol and less saturated fat. The process slashes land, water, and carbon requirements for egg production making the JUST Egg a sustainable option healthier for the planet and the consumer.
pual
4 years ago
Eat Beyond Adds SIRE Bioscience to its Portfolio and Extends Marketing Agreement - 03/17/2021 9:00:00 AM
VANCOUVER, BC, March 17, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc.
(CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, announced it has invested in SIRE Bioscience
SIRE is a CPG life science company focused on the plant-based foods and supplements industry. Its products are segmented into three areas: sports nutrition, plant fuel, and plant-based protein.
SIRE recently acquired PlantFuel, Inc. providing SIRE with a solid portfolio of plant-based products. PlantFuel's leadership has scaled brands to over $200 million in sales with more than 50,000 distribution points in 120 different countries.
Fusion Nutrition Inc., which SIRE acquired in 2020, is a Canadian-based, leading supplement company with national distribution. It holds some of the fastest-growing supplements in Canada and numerous category leaders sold in Canada's top five retailers. Fusion is available in 800 locations nationwide.
"Eat Beyond is excited to expand our growing portfolio into the supplements space," Eat Beyond CEO Patrick Morris said. "SIRE has a wide-ranging portfolio of brands, and we believe that the supplements industry is currently in an exciting evolutionary phase and that consumers are increasingly seeking to improve the quality of what they consume. Supplements are becoming less about solely producing aesthetic results, and more about improving overall health. SIRE is on the forefront of this trend."
SIRE will use the funds from this investment for working capital, expansion of the Fusion line of supplement products, and expansion capital.
Marketing Agreement
The Company also announces that it has extended its service contract (the "Service Contract") announced December 2, 2020 with Media Relations Publishing, Carsten Schmider ("Media Relations"), to provide marketing and consulting services, including certain investor relations services, for the purpose of creating market awareness of the Company. The Service Contract extension includes payment of EUR 100,000 for a four-week period commencing March 16, 2021.
pual
4 years ago
Eat Beyond Portfolio Company Nabati Raises $7.7 Million
03/15/2021 9:00:00 AM
VANCOUVER, BC, March 15, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company Nabati Foods Global Inc., formerly Nabati Foods Inc. ("Nabati"), has closed an oversubscribed $7.7 million private placement, and has restructured with plans to go public.
Nabati previously announced its intentions to raise $4 million, but due to tremendous demand, has increased this to $7.7 million. The net proceeds will be used to fund the Nabati's proposed go-public transaction as well as for business development, working capital, plant expansion, and to purchase equipment to expand production capacity and develop new product lines.
Founded in Edmonton, Nabati is a fast-growing food tech company offering whole, natural, plant-based foods for health-conscious consumers.
"Once the financing was announced for Nabati, the company received thousands of inquiries from interested parties looking to invest," Eat Beyond CEO Patrick Morris said. "This new capital can help to catapult Nabati to the next level by enabling the company to expand its production capacity to meet the ever-growing demand for its products. Eat Beyond looks forward to working closely with Nabati to support their innovation, growth, and expansion."
Nabati currently offers three plant-based product lines including dairy-free cheesecakes, cheese alternatives, and plant-based meats, with plans to add more innovative product lines. Nabati products are sold across North America via grocery, online, foodservice and retail channels.
"Nabati has seen unprecedented growth over the past year, despite the uncertainty consumers are facing due to the COVID-19 pandemic," said Ahmad Yehya, CEO of Nabati. "We designed our products and mix of distribution channels to be able to weather economic challenges, and we are now seeing the fruits of that labour."
Learn more about Nabati: https://invest.nabatifoods.com/
pual
4 years ago
Eat Beyond Portfolio Company Nabati Foods Attracts Strong Leadership Team - 03/04/2021 9:00:00 AM
VANCOUVER, BC and EDMONTON, AB, March 4, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, reports that portfolio company Nabati Foods Inc. ("Nabati") this week introduced an impressive roster of advisors and directors, including Eat Beyond Chairman of the Board, and former Mars Canada CEO, Don Robinson.
"We are incredibly pleased with the traction that Nabati is gaining in the market, and are now strategically deploying key members of our investment committee to help Nabati manage this next phase of rapid growth," said Patrick Morris, CEO of Eat Beyond. "The next several months will be critical for Nabati from a financial, operational, marketing, and product perspective."
Nabati Foods is a family-founded food tech company that was launched in 2014 in Edmonton, Alberta.
"What began at the farmers, is now growing to become a multi-million dollar operation spanning several product lines and serving customers across the continent in grocery, foodservice, and industrial channels," said Ahmad Yehya, CEO of Nabati. We recognize that to achieve our global goals and ambitions, we need to have the best team out there to take us to the next level. This means attracting top talent to our team. We are so grateful to have attracted these accomplished industry professionals to guide us through this explosive growth period."
Eat Beyond's Don Robinson will step up as Nabati's Executive Chairman and will be joined by Eat Beyond's investment committee members Michael Owen (Business Development Officer), Diane Jang (Advisor), and Robert Kang (Director). Together these executives will bring well over 100 combined years of strategic business experience to help guide Nabati moving forward.
Nabati will also welcome:
Karl Wirtz (Manufacturing Director): Mr. Wirtz has more than 33 years of experience as an entrepreneur and business owner. He built and manages a globally recognized co-packing business with world-class food safety certifications and is currently servicing many consumer packaged goods (CPG) companies around the globe carrying an "AA" rating under the Global Food Safety Initiative.
Ian Gilmour (Process Director): Mr. Gilmour has over 35 years of experience in the liquid food processing industry. He has particular expertise in major capital projects. He is President of Simmtech Process Engineering Ltd. a company that services the food, beverage, biotech, and pharmaceutical industries.
Joe Santos (VP Sales): Mr. Santos previously held leadership positions with Major CPG companies across Canada such as Kraft, Ralston Purina, Nabisco and Parmalat, and he has over 20 years of entrepreneurial experience. Most recently, he served as President of Saralex Group Inc. He has expertise in Canadian & U.S. brand building and driving business growth through the strategic implementation of marketing, sales, logistics, and financial operations.
"This balanced and talented roster of advisors and leaders is another solid example of Eat Beyond's management philosophy and truly hands-on approach within the growing alternative food sector," Morris said. "Money is just one part of the equation, but support and mentorship are what really can help to unlock value in companies like Nabati. We believe in cultivating an engaged partnership to help all our portfolio companies progress, expand, and grow in a smart and sustainable way."
pual
4 years ago
Eat Beyond Portfolio Shows Early Returns, Seeding Larger Vision, and Enters Marketing Agreement - 02/25/2021 9:02:00 AM
VANCOUVER, BC, Feb. 25, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is pleased to announce the recent success of its growing global portfolio.
Eat Beyond began trading on November 17, 2020 and its share price has jumped over 340 percent in just over three months. Several of Eat Beyond's portfolio companies have also now reached all-time highs for their share prices.
"Eat Beyond's objective is to provide liquidity and earn a return for our shareholders, while also continuously identifying and developing new opportunities in our target sector," said Patrick Morris, CEO of Eat Beyond. "While we do provide capital to our portfolio companies, that capital is just the start of our real investment. Eat Beyond's investment committee offers guidance and growth strategy to help companies accelerate their success and profitability more rapidly. We act as a true partner to help remove barriers and create opportunities to unlock each company's full potential."
The Company has seen strong returns from its portfolio companies including:
• The Very Good Food Company (CSE: VERY). Eat Beyond's investment was at a price of $0.25 per common share in early 2020, and shares have been trading steadily over $6.00 since December of 2020.
• Eat Beyond purchased a stake in good natured® (TSXV: GDNP) in November 2020 at $0.14 per share with each share receiving one-half warrant at $0.21. On Wednesday, February 24, 2021 the stock price last closed at $1.50. good natured® was also recently named a 2021 TST Venture 50 Company in the Clean Tech and Life Sciences sector.
• Eat Just was the first company in the world to have its cultured chicken product approved for sale. The product has been offered on a restaurant menu in Singapore since December 2020 and the company is scaling up production. Eat Just CEO Josh Tetrick has said the company is focused on achieving operating profitability and then intends to take the company public.
• Singapore-based TurtleTree Labs Launched TurtleTree Scientific in January 2021, TurtleTree Scientific is focused on working with cell-based meat companies on the production of food-grade growth factors to build the foundation that the cultured food industry needs to thrive.
• Edmonton-based Nabati Foods has been growing rapidly with its diverse product line of meat, dairy, and cheese alternatives, and has just closed an oversubscribed round of financing. Nabati has plans to go public in 2021.
"Eat Beyond seizes smart investment opportunities in early seed rounds for global companies that are not typically available to retail investors. We are the first Canadian company to focus exclusively in this area, and our focus spans innovative alternative proteins, food technology, and consumer packaged goods," added Morris. "Our vision for Eat Beyond and its potential opportunities continues to expand, and we look forward to further refining our strategy in the coming year."
The plant-based food market is projected to reach nearly $75 billion by 2027, with double digit annual growth forecasted, according to Meticulous Research. This sector surge represents a massive opportunity for Eat Beyond, its investors, and portfolio companies. Eat Beyond is presently laying the groundwork to expand its strategic focus and revenue model into new areas in the coming months to enhance and grow its top line.
Marketing agreement
The Company also announces it has engaged Electrik Dojo LLC for native advertising and digital marketing services to increase brand awareness for the Company. Certain services to be provided by Electrik Dojo are anticipated to include investor relations activities under the policies of the CSE and applicable securities laws. The Company will compensate Electrik Dojo USD $100,000 for a term of 30 days and will continue to look at strategic consultants to expand awareness of the Company and its activities.
MjMilo
4 years ago
Eat Beyond Adds Zoglo’s Incredible Food to its Portfolio
Zoglo’s Incredible Food has been a leader in the plant-based food industry for over 25 years, serving the North American, European and Australian Markets
Vancouver, B.C. – February 16, 2021 – Eat Beyond Global Holdings (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat Beyond” or the “Company”), an investment issuer focused on the global plant-based and alternative food sector, is announcing that it has completed an investment in Zoglo’s Incredible Food Corp. (“Zoglo’s”), by joining its recent seed round. Zoglo’s has plans to become publicly traded via reverse take over in the coming months. At the present time, Eat Beyond anticipates further increasing its interest in Zoglo's by participating in its next financing - the "go public" round.
Zoglo’s has been a leading company offering kosher, plant-based products for over 25 years and is now ready to enter the mainstream market. It has a product selection of over 14 plant-based protein offerings including plant-based meat, appetizers and veggie products made with concentrated, non-gmo, plant-based proteins that are rich in vitamins c and a, iron, calcium, potassium and folic acid. Its products are high in fiber, omega 3 fatty acids, and antioxidants.
“We are excited to work with Zoglo’s and support its expansion plans. Zoglo’s has a deep understanding of its customer’s demand for quality, nutrition and taste,” said Patrick Morris, CEO of Eat Beyond. “The opportunity is massive for a brand with its impressive track record, and we anticipate that its planned launch in the foodservice business has tremendous potential for success.”
Zoglo’s products are currently available in leading retailers including Walmart, Shoppers Drug Mart, Sobeys and Loblaws, earning Zoglo’s a place amongst other leading plant-based brands such as Beyond Meat, Impossible Foods and The Very Good Butchers.
The foodservice industry also has growing demand for protein-rich veggie burgers, nuggets and meatless sausage products such as those that Zoglo’s offers. Quick service restaurants are the biggest market for the pre-made veggie burgers in the United States and Canada and Zoglo’s has plans to expand into this segment.
"We are very pleased to welcome Eat Beyond as an early shareholder of Zoglo’s. They have a very well respected, highly knowledgeable management team and we look forward to working with them as we continue to grow Zoglo's to become a dominant player in our industry. We also look forward to maximizing the value of their and all of our stakeholders' investment in Zoglo's," commented Anthony Morello, CEO of Zoglo’s.
MjMilo
4 years ago
Eat Beyond Portfolio Company Nabati Announces its Mozzarella Style Cheeze Shreds Included in New COBS Bread Offering with Beyond Meat®
Vancouver, B.C. – February 9, 2021 – Eat Beyond Global Holdings (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat Beyond” or the “Company”), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company Nabati Foods Inc. (“Nabati”) now has its Nabati Mozzarella Style Cheeze Shreds included in COBS new plant-based Beyond Sausage® Arrabbiata Mini Pizza.
The plant-based mini pizza is now available at all 130 COBS locations across Canada and includes Beyond Meat® Beyond Sausage® Italian Sausage Crumbles, Nabati Mozzarella Style Cheeze Shreds, roasted red pepper, chili flakes, and will be served on a fermented Turkish dough base.
“After an exciting search to deliver a high quality plant-based cheeze that our customers will love, we are delighted to partner with Nabati to expand our plant-based offerings. Nabati’s cheeze helps to position our product as a delicious plant-based pizza, without sacrificing taste. We expect this product to quickly become a favourite for either those who are searching for a tasty plant-based pizza, those looking to reduce their meat and dairy consumption, or those just looking for a great tasting pizza,” said Brad Bissonnette, VP Marketing & Franchise Recruitment.
Edmonton-based Nabati is a fast-growing food tech company offering whole, natural, plant-based foods for health conscious consumers. The Nabati Cheeze Mozzarella Style Shreds are a dairy-free, lactose-free, casein-free, soy-free, gluten-free, kosher cheese alternative.
“Demand for Nabati products has been growing rapidly in all channels - grocery, foodservice, and industrial,” said Patrick Morris, CEO of Eat Beyond. “This is yet another example of healthy food innovation forging ahead into the broader food market in unique ways. We expect to see this momentum continue to grow for healthy, sustainable, plant-based food products commensurate with rising consumer demand.”
Eat Beyond is focused on identifying the best food tech companies from around the world and accelerating their success by providing not only capital but hands-on support, guidance, industry connections and know-how.
“The foodservice industry is very excited about our Nabati Cheeze shreds and variety of uses for this proprietary line. We look forward to this new partnership with COBS Bread and more to come in the months and years ahead across North America and Europe,” said Ahmad Yehya, CEO of Nabati.
Find your local COBS at https://www.cobsbread.com/local-bakery/ to try out the new plant-based mini pizza.
About Eat Beyond Global Holdings
Eat Beyond Global Holdings Inc. (“Eat Beyond”) (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/
Find Eat Beyond on Social Media on LinkedIn, Instagram, Twitter and Facebook
For media inquiries, please contact: Brittany@Exvera.com
For investment inquiries, please contact: Info@Eatbeyondglobal.com
For further information, please contact Patrick Morris at Info@Eatbeyondglobal.com or (236) 521-6499
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