Multi-year agreement with Footprint supports
SAMBAZON’s sustainable packaging initiative
Footprint, a global materials science technology company focused
on creating a healthier planet, announced today a multi-year
agreement to develop sustainable packaging for SAMBAZON, a leading
supplier of certified fair trade and organic açaí.
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Footprint designs, develops and
manufactures sustainable packaging for SAMBAZON’s ready-to-eat açaí
bowls with its plant-based fiber technology (Graphic: Business
Wire)
The partnership will leverage Footprint’s proprietary technology
to bring plant-based fiber solutions to market for application in
SAMBAZON’s ready-to-eat açaí bowls, a frozen product with a
fifteen-month shelf life. Over the course of the multi-year
agreement, Footprint will provide millions of units to support
SAMBAZON’s rapid growth as it scales the national distribution of
its açaí bowls and continues to build strong relationships with
leading retailers.
“We are thrilled to bring our design and manufacturing
innovation to support SAMBAZON’s Packaging ‘Eco-mmitment’ as they
bring their certified fair trade and organic açaí to the freezer in
a plastic-free, ready-to-eat bowl,” said Footprint founder and CEO
Troy Swope. “We look forward to continuing to provide industry
leaders like SAMBAZON the opportunity to transition away from
single-use plastic with a plant-based fiber solution that is at
price- and performance-parity to plastic.”
“As a triple bottom line business, reducing our impact through
packaging is a priority,” said SAMBAZON’s CFO and COO Ricardo
Perdigao. “SAMBAZON is committed to achieving plant-based and
post-consumer recycled packaging for all USA retail products by
2025. Our partnership with Footprint has enabled us to deliver our
fair trade and organic certified açaí to the world in packaging
aligned with our sustainability goals, paving the way for a
zero-waste future, and minimizing our impact on the
environment.”
About Footprint
Footprint has a clear vision to create a healthier planet and
healthier people. Phase one of our mission is to provide solutions
that eliminate single-use and short-term use plastics in our food
chain. Footprint’s team of engineers use plant-based fiber
technology to design, develop and manufacture biodegradable,
compostable, and recyclable products that compete with plastic’s
cost, and exceed its performance. Footprint is rapidly expanding
into new categories with customized and patented solutions for
customers. Footprint’s products have already led to a global
redirection of millions of pounds of plastic waste from entering
the air, earth, and water working with leading global consumer
brands.
Footprint was founded in 2014 by former Intel engineers, Troy
Swope and Yoke Chung. The company employs more than 2,700
employees, with operations in the U.S., Mexicali, Europe, and Asia.
Footprint was named to the 2020 Fortune “Change the World” list in
2020, is a member of the World Economic Forum’s Global Innovators
Community and was named a CNBC Disruptor 50 company in 2021.
In December 2021, Footprint announced its intention to list on
NASDAQ as a public company in a business combination agreement with
Gores Holdings VIII, Inc. (Nasdaq: GIIX, GIIXW and GIIXU). Full
information on this definitive agreement can be found here.
For more information on Footprint’s sustainable solutions visit
www.footprintus.com.
About SAMBAZON
Founded in 2000, SAMBAZON was the first Certified Organic and
Fair Trade Açaí company in the world, supplying ethically sourced
Açaí products from a closed loop supply chain to ensure its
products have complete traceability and transparency from the palm
of the tree to the palm of your hand. Operating on a
triple-bottom-line business model, SAMBAZON uses commerce as a
vehicle to create a more prosperous future for the people and the
planet by providing ways to enjoy the Delicious Powers of Açaí. All
SAMBAZON products, including smoothie packs, Ready-to-Eat Açaí
Bowls, juices, energy drinks and Açaí Bites range from $2-$10
individually and are made from USDA Organic, Non-GMO, vegan, and
Fair For Life Fair Trade Certified Açaí. SAMBAZON's Fair Trade
certification has helped to protect over 2.5 million acres of
Rainforest and its rich biodiversity inside, and has benefited more
than 20,000 local farmers. With the commitment to invest up to 5%
of local Açaí purchases back into the community, SAMBAZON has
helped to build healthcare centers, community centers and schools.
For more information about SAMBAZON's mission and products, visit
www.SAMBAZON.com.
About Gores Holdings VIII, Inc.
Gores Holdings VIII, Inc. (Nasdaq: GIIXU) is a special purpose
acquisition company sponsored by an affiliate of The Gores Group,
LLC, founded by Alec Gores. Gores Holdings VIII, Inc. completed its
initial public offering in March 2021, raising approximately $345
million in cash proceeds for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses. Gores Holdings VIII, Inc.’s strategy is to identify,
acquire and, after the initial business combination, to build a
company in an industry or sector that complements the experience of
its management team and can benefit from their operational
expertise.
About The Gores Group LLC
Founded in 1987, The Gores Group is a global investment firm
focused on partnering with differentiated businesses that can
benefit from the firm’s extensive industry knowledge and decades
long experience. To date, affiliates of The Gores Group have
announced or closed ten business combinations representing
approximately $60 billion in transaction value which include:
Hostess (Gores Holdings, Inc.), Verra Mobility (Gores Holdings II,
Inc.), PAE (Gores Holdings III, Inc.), Luminar (Gores Metropoulos,
Inc.), United Wholesale Mortgage (Gores Holdings IV, Inc.), Ardagh
Metal Packaging (Gores Holdings V, Inc.), Matterport (Gores
Holdings VI, Inc.), Sonder (Gores Metropoulos II, Inc.), Polestar
(Gores Guggenheim) and Footprint (pending; Gores Holdings VIII,
Inc.). For more information, please visit www.gores.com.
Forward-looking Statements
Certain statements in this press release may be considered
“forward-looking statements” as defined in the Private Securities
Litigation Reform Act of 1995 and within the meaning of the federal
securities laws with respect to the proposed business combination
between the Gores Holdings VIII, Inc. (“Gores Holdings VIII”) and
Footprint International Holdco, Inc. (“Footprint”), including
statements regarding the benefits of the proposed business
combination, the anticipated timing of the proposed business
combination, the likelihood and ability of the parties to
successfully consummate the proposed business combination and the
PIPE investment, the amount of funds available in the trust account
as a result of stockholder redemptions or otherwise, the services
offered by Footprint and the markets in which Footprint operates,
business strategies, debt levels, industry environment, potential
growth opportunities, the effects of regulations and Gores Holdings
VIII’s or Footprint’s projected future results. These
forward-looking statements generally are identified by the words
“believe,” “predict,” “project,” “potential,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“forecast,” “opportunity,” “plan,” “may,” “should,” “will,”
“would,” “should,” “will be,” “will continue,” “will likely
result,” and similar expressions (including the negative versions
of such words or expressions).
Forward-looking statements are predictions, projections and
other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
document, including but not limited to: (i) the risk that the
proposed business combination may not be completed in a timely
manner or at all, which may adversely affect the price of Gores
Holdings VIII securities; (ii) the risk that the proposed business
combination may not be completed by Gores Holdings VIII’s business
combination deadline and the potential failure to obtain an
extension of the business combination deadline if sought by Gores
Holdings VIII; (iii) the failure to satisfy the conditions to the
consummation of the proposed business combination and PIPE
investment, including the approval of the proposed business
combination by Gores Holdings VIII’s stockholders, the satisfaction
of the minimum trust account amount following redemptions by Gores
Holdings VIII’s public stockholders and the receipt of certain
governmental and regulatory approvals; (iv) the failure to obtain
financing to complete the proposed business combination, including
to consummate the PIPE investment; (v) the effect of the
announcement or pendency of the proposed business combination on
Footprint’s business relationships, performance, and business
generally; (vi) risks that the proposed business combination
disrupts current plans of Footprint and potential difficulties in
Footprint’s employee retention as a result of the proposed business
combination; (vii) the outcome of any legal proceedings that may be
instituted against Gores Holdings VIII or Footprint related to the
agreement and the proposed business combination; (viii) changes to
the proposed structure of the business combination that may be
required or appropriate as a result of applicable laws or
regulations or as a condition to obtaining regulatory approval of
the business combination; (ix) the ability to maintain the listing
of the Gores Holdings VIII’s securities on the NASDAQ; (x) the
price of Gores Holdings VIII’s securities, including volatility
resulting from changes in the competitive and highly regulated
industries in which Footprint plans to operate, variations in
performance across competitors, changes in laws and regulations
affecting Footprint’s business and changes in the combined capital
structure; (xi) the ability to implement business plans, forecasts,
and other expectations after the completion of the proposed
business combination, and identify and realize additional
opportunities; and (xii) other risks and uncertainties set forth in
the section entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statement” in Gores Holdings VIII final prospectus
relating to its initial public offering (File No. 333-252483)
declared effective by the U.S. Securities and Exchange Commission
(the “SEC”) on February 24, 2021 and other documents filed, or to
be filed with the SEC by Gores Holdings VIII, including the
Registration Statement (as defined below). The foregoing list of
factors is not exhaustive. There may be additional risks that
neither Gores Holdings VIII or Footprint presently know or that
Gores Holdings VIII or Footprint currently believe are immaterial
that could also cause actual results to differ from those contained
in the forward-looking statements. You should carefully consider
the foregoing factors and the other risks and uncertainties that
will be described in Gores Holdings VIII’s definitive proxy
statement contained in the Registration Statement, including those
under “Risk Factors” therein, and other documents filed by Gores
Holdings VIII from time to time with the SEC. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Gores Holdings VIII and Footprint assume no obligation and,
except as required by law, do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Neither Gores Holdings VIII nor
Footprint gives any assurance that either Gores Holdings VIII or
Footprint will achieve its expectations.
Projections
This press release contains financial forecasts with respect to
Footprint’s projected financial results, including revenue and
capacity. Footprint’s independent auditors have not audited,
reviewed, compiled or performed any procedures with respect to the
projections for the purpose of their inclusion in this press
release, and accordingly, they did not express an opinion or
provide any other form of assurance with respect thereto for the
purpose of this press release. These projections should not be
relied upon as being necessarily indicative of future results. The
assumptions and estimates underlying the prospective financial
information are inherently uncertain and are subject to a wide
variety of significant business, economic and competitive risks and
uncertainties that could cause actual results to differ materially
from those contained in the prospective financial information.
Accordingly, there can be no assurance that the prospective results
are indicative of the future performance of Footprint or that
actual results will not differ materially from those presented in
the prospective financial information. Inclusion of the prospective
financial information in this press release should not be regarded
as a representation by any person that the results contained in the
prospective financial information will be achieved.
Actual results may differ as a result of the completion of the
Footprint’s financial reporting period closing procedures, review
adjustments and other developments that may arise between now and
the time such financial information for the period is finalized. As
a result, these estimates are preliminary, may change and
constitute forward-looking information and, as a result, are
subject to risks and uncertainties. Neither Footprint’s nor Gores
Holdings VIII’s independent registered accounting firm has audited,
reviewed or compiled, examined or performed any procedures with
respect to the preliminary results, nor have they expressed any
opinion or any other form of assurance on the preliminary financial
information.
Additional Information about the Proposed Transaction and
Where to Find It
In connection with the business combination, Gores Holdings VIII
has filed a registration statement on Form S-4 (the “Registration
Statement”) that includes a preliminary prospectus and preliminary
proxy statement of Gores Holdings VIII. The proxy
statement/prospectus is not yet effective. The definitive proxy
statement/prospectus, when it is declared effective by the SEC,
will be sent to all Gores Holdings VIII stockholders as of a record
date to be established for voting on the proposed business
combination and the other matters to be voted upon at a meeting of
Gores Holdings VIII’s stockholders to be held to approve the
proposed business combination and other matters (the “Special
Meeting”). Gores Holdings VIII may also file other documents
regarding the proposed business combination with the SEC. The
definitive proxy statement/final prospectus will contain important
information about the proposed business combination and the other
matters to be voted upon at the Special Meeting and may contain
information that an investor will consider important in making a
decision regarding an investment in Gores Holdings VIII’s
securities. Before making any voting decision, investors and
security holders of Gores Holdings VIII and other interested
parties are urged to read the Registration Statement and the proxy
statement and all other relevant documents filed or that will be
filed with the SEC in connection with the proposed business
combination as they become available because they will contain
important information about the proposed business combination.
Investors and security holders will be able to obtain free
copies of the definitive proxy statement/final prospectus and all
other relevant documents filed or that will be filed with the SEC
by Gores Holdings VIII through the website maintained by the SEC at
www.sec.gov, or by directing a request to Gores Holdings VIII,
Inc., 6260 Lookout Road, Boulder, CO 80301, attention: Jennifer
Kwon Chou or by contacting Morrow Sodali LLC, Gores Holdings VIII’s
proxy solicitor, for help, toll-free at (800) 662-5200 (banks and
brokers can call collect at (203) 658-9400).
Participants in Solicitation
Gores Holdings VIII, Footprint and certain of their respective
directors, executive officers may be deemed participants in the
solicitation of proxies from Gores Holdings VIII’s stockholders
with respect to the proposed business combination. A list of the
names of those directors and executive officers of Gores Holdings
VIII and a description of their interests in Gores Holdings VIII is
set forth in Gores Holdings VIII’s filings with the SEC (including
Gores Holdings VIII’s final prospectus relating to its initial
public offering (File No. 333-252483) declared effective by the SEC
on February 24, 2021). Additional information regarding the
interests of those persons and other persons who may be deemed
participants in the proposed business combination may be obtained
by reading the Registration Statement. The documents described in
this paragraph are available free of charge at the SEC’s web site
at www.sec.gov, or by directing a request to Gores Holdings VIII,
Inc., 6260 Lookout Rd., Boulder, CO 80301, attention: Jennifer Kwon
Chou. Additional information regarding the names and interests of
such participants will be contained in the Registration Statement
for the proposed business combination when available.
No Offer and Non-Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential transaction and shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
of Gores Holdings VIII, Footprint or the combined company, nor
shall there be any sale of any such securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of the Securities Act of 1933, as amended.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221011005249/en/
For inquiries regarding
Footprint:
Robert Dekker VP Communications, Footprint
Robert.Dekker@footprintus.com +1 (480) 209-1064
Laura Zilverberg Allison + Partners for Footprint
footprint@allisonpr.com +1 (612) 240-4034
For inquiries regarding The Gores Group
and affiliates:
Jennifer Kwon Chou Managing Director The Gores Group
jchou@gores.com +1 (310) 209-3010
John Christiansen/Cassandra Bujarski/Danya Al-Qattan FGS Global
GoresGroup-SVC@sardverb.com
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