Delivering $23.7
million year to date third quarter 2023 at 32% gross margin
as compared to a 38% gross margin for the same period in 2022,
TRUBAR expands distribution in Costco, BJ's Wholesale, Longo's,
and Sobey's, while it enables a broader manufacturing network to
meet growing demand
VANCOUVER, BC, Nov. 8, 2023
/CNW/ - Simply Better Brands Corp. (TSXV: SBBC) (OTCQB:
PKANF) is pleased to announce TRUBAR continues its expansion
of distribution, portfolio, and capability. The brand is fueling
clean ingredient, delicious, and indulgent nutrition in the protein
bar category with guardrails of vegan, soy-free, no sugar alcohol,
non-GMO, and gluten-free attributes.
This year marks a significant momentum with the addition of a
dedicated, national full-service sales team from Acosta propelling
TRUBAR into conversations with some of the largest players in the
market. Recent accomplishments are as follows:
- COSTCO: Building on its national promotion earlier this
year, and above-hurdle rate sales velocities, TRUBAR has now
launched a second item into COSTCO with a dual pack of "Get in my
belly, PB and jelly", and "It's mint to be chip.". This innovation
is in addition to its current base item of "Oh oh cookie dough" and
"Daydreaming about donuts." The broader portfolio will provide more
flavor variety to TRUBAR loyalists on their "stock up" trip.
- BJ's Wholesale: Seeing the demand for TRUBAR in the
marketplace, BJ's Wholesale has added TRUBAR into 164 locations
with a dual pack of "Oh oh cookie dough" and "Daydreaming about
donuts". "We love having our brand enter the BJ's ecosystem of such
a high-quality retailer in the crowded Eastern U.S. market. BJ's
enjoys a health-conscious, savvy member base that resonates with
TRUBAR's brand positioning.", says Erica
Groussman, CEO of TRUBAR.
- Canadian Market: Building on an already diverse retailer
footprint in the Canadian market, TRUBAR has confirmed new
distribution into 252 locations of Sobey's and 35 stores of
Longo's. Both chains are slated to start this November 2023.
- Manufacturing capacity: To ensure its ability to meet
growing demand, TRUBAR has added a second manufacturing facility to
its supply chain. This expansion is expected to triple its current
base and is slated to commence manufacturing in December 2023. The addition of this secondary
supply chain is poised to significantly reduce lead times, add
greater pack flexibility, and reduce COGS driven by scale. This
evolution is a key milestone in its journey, ensuring that TRUBARS
continue to be readily available and accessible to health-conscious
consumers nationwide.
About Simply Better Brands
Corp.
Simply Better Brands Corp. leads an international omni-channel
platform with diversified assets in the emerging plant-based and
holistic wellness consumer product categories. The Company's
mission is focused on leading innovation for the informed
Millennial and Generation Z generations in the rapidly growing
plant-based wellness, natural, and clean ingredient space. The
Company continues to focus on expansion into high-growth consumer
product categories including plant-based food, clean ingredient
skincare and plant-based wellness. For more information on
Simply Better Brands Corp., please visit:
https://www.simplybetterbrands.com/investor-relations.
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accuracy of this release.
Forward-Looking
Information:
Certain statements contained in this news release constitute
"forward-looking information" and "forward looking statements" as
such terms are used in applicable Canadian securities laws.
Forward-looking statements and information are based on plans,
expectations and estimates of management at the date the
information is provided and are subject to certain factors and
assumptions, including, among others, that the Company's financial
condition and development plans do not change as a result of
unforeseen events, the impact of the COVID-19 pandemic, the
regulatory climate in which the Company operates, the Company's
ability to execute on its business plans, distribution plans,
reliance on a consistent supply chain, and claims relating to the
efficacy and results of the Company's products. Specifically, this
news release contains forward-looking statements relating to, but
not limited to, timing for the commencement of the second
manufacturing facility and the expected effects of the second
manufacturing facility to reduce lead times, add greater pack
flexibility, and reduce COGS driven by scale.
Forward-looking statements and information are subject to a
variety of risks and uncertainties and other factors that could
cause plans, estimates and actual results to vary materially from
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financial condition and development plans change, ability to
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There is no representation by the Company that actual results
achieved will be the same in whole or in part as those referenced
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understanding of our results of operations from management's
perspective. Accordingly, these measures should not be considered
in isolation nor as a substitute for analysis of our financial
information reported under IFRS.
SOURCE Simply Better Brands Corp