Save-On-Foods to Carry The Very Good Butchers Suite of Products in over 180+ of its Retail Stores; Significantly Increasing Distribution Points in Canada by 83%
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2021) - Leading plant-based food technology company, The Very Good Food Company Inc. (TSXV: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("VERY GOOD" or the "Company"), is pleased to announce that through its new wholesale distribution partnership with Horizon Grocery + Wellness, it has signed on with Save-On-Foods, a major Canadian grocer, to carry The Very Good Butchers suite of products in 184 of its retail stores across Canada.
On the Company's home turf in Canada, VERY GOOD has entered into a new partnership with Horizon Grocery + Wellness ("Horizon"), Western Canada's leading distributor of organic and natural foods, natural personal care items and nutritional health supplements. Horizon joins VERY GOOD's North American network of wholesale, eCommerce and food service partners, helping to power the Company's growth and move its plant-based offerings from its production facilities to customers' plates.
Through the wholesale distribution partnership with Horizon, VERY GOOD's popular brand, The Very Good Butchers, will now be carried in Canada's largest Western-based grocery retailer, Save-On-Foods. Save-on-Foods is the owner of several well established banners including its namesake Save-On-Foods stores as well as PriceSmart Foods, Urban Fare and Bulkley Valley Wholesale. Save-on-Foods will stock its shelves with The Very Good Butchers' top 5 SKUs including The Very Good Burger, Smokin' Bangers, Taco Stuff'er, Very Good Pepperoni and the Very Good Dog in 177 of its retail stores and 7 Urban Fare locations across Canada starting August 1, 2021. This will bring the number of retail stores carrying The Very Good Butchers products in Canada to 573 stores, significantly increasing the number of distribution points to approximately 2,476 from 1,356 at the end of March 2021; representing an 83% increase.
"The expanded retail distribution in Canada is a direct result of us meeting our goals to ramp up production at our facilities in order to meet consumer demand and support our revenue growth," said Mitchell Scott, Co-Founder & CEO of The Very Good Food Company. "We set our sights on Save-On-Foods at the beginning of 2020 and now we have finally achieved this milestone. We are thrilled that our products will be carried by Canada's largest Western-based grocery retailer due largely in part to our successful partnership with Horizon. With these new relationships, our products are now accessible coast-to-coast across Canada."
VERY GOOD is also pleased to announce that it has removed all pallet allocations for its wholesale distributors and retailers allowing them to order as many pallets as needed to fill their customer's carts with the Company's delicious and nutritious products.
About Horizon Grocery + Wellness
Established in 1976, Horizon Grocery + Wellness is Western Canada's leading distributor of organic and natural foods, natural personal care items and nutritional health supplements. Horizon is known for its dedication to logistical excellence, personalized account service, consistent, high fill rates, and commitment to integrity in product selection. Horizon is the supplier of major natural, grocery and independent grocery chains, independent natural health stores, buying clubs, restaurants, cafés and specialty retailers via a fleet of trucks and common carriers. www.horizondistributors.com/
About Save On Foods
Save-On-Foods is a Jim Pattison business, committed to Going the Extra Mile for customers in every community served, every day. As Western Canada's fastest growing retailer operating under the banners Save-On-Foods, PriceSmart Foods, Urban Fare and Bulkley Valley Wholesale stores from B.C. to Manitoba, Save-On-Foods plans to open an additional seven stores this year. Known for its unique approach in customizing each store to best suit the needs of the neighbourhood by carrying more than 2,500 locally made products from more than 2,000 local growers and producers, the company has been innovating and putting customers first for over 100 years. www.saveonfoods.com/
About The Very Good Food Company Inc.
The Very Good Food Company Inc. is an emerging plant-based food technology company that produces nutritious and delicious plant-based meat and cheese products under VERY GOOD's core brands: The Very Good Butchers and The Very Good Cheese Co. www.verygoodfood.com
OUR MISSION IS LOFTY, BADASS BUT BEAUTIFULLY SIMPLE: GET MILLIONS TO RETHINK THEIR FOOD CHOICES WHILE HELPING THEM DO THE WORLD A WORLD OF GOOD. BY OFFERING PLANT-BASED FOOD OPTIONS SO DELICIOUS AND NUTRITIOUS, WE'RE HELPING THIS KIND OF DIET BECOME THE NORM.
Forward-Looking Information
This news release contains forward-looking information for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. Forward looking information contained or referred to in this news release includes statements relating to the expected increase in distribution points as a result of the partnership with Save-on-Foods, the number of stores and variety of banners that will carry The Very Good Butchers products, the assortment of the products to be carried and the expected timing for the products to become available in-store Forward-looking information is based on a number of factors and assumptions which have been used to develop such information, but which may prove to be incorrect including, but not limited to, material assumptions with respect to the continued strong demand for VERY GOOD's products, the continued production capacity ramp-up to meet distribution commitments, the availability of sufficient financing on reasonable terms to fund the Company's capital and operating requirements and the ability to obtain necessary equipment, production inputs and labour. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because VERY GOOD can give no assurance that such expectations will prove to be correct. Risks and uncertainties that could cause actual results, performance or achievements of VERY GOOD to differ materially from those expressed or implied in such forward-looking information include, among others, negative cash flow and future financing requirements to sustain and grow operations, limited history of operations and revenues and no history of earnings or dividends, expansion of facilities, competition, availability of raw materials, dependence on senior management and key personnel, general business risk and liability, regulation of the food industry, change in laws, regulations and guidelines, compliance with laws, unfavourable publicity or consumer perception, product liability and product recalls, risks related to intellectual property, difficulties with forecasts, management of growth and litigation, as well as the impact of, uncertainties and risks associated with the ongoing COVID-19 pandemic, many of which are beyond the control of VERY GOOD. For a more comprehensive discussion of the risks faced by VERY GOOD, please refer to VERY GOOD's most recent Annual Information Form M filed with Canadian securities regulatory authorities at www.sedar.com. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, VERY GOOD disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Investor Contact
The Very Good Food Company
Mitchell Scott
Kevan Matheson
Corporate Communications and Investor Relations
Email: invest@verygoodbutchers.com
Phone: +1 855-472-9841
Media Contact
Anne Donohoe
KCSA Strategic Communications
Email: VERY@kcsa.com
Phone: 212-896-1265
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