Organic growth through CPG & Food Service business models plus accelerating M&A
Toronto, Ontario--(Newsfile Corp. - September 16, 2021) - Plant&Co. Brands Ltd. (CSE: VEGN) (FSE: VGP) (OTCQB: VGANF) ("Plant&Co" or the "Company"), a modern health and wellness company curating delicious plant-based foods, is pleased to announce a corporate update and its 2021-2022 strategy focus for overall firm-wide growth.
"The Plant&Co team spent the last 90 day streamlining the business, identifying products that have broad appeal and are ready to be scaled," says Kevin Cole, Member of the Board, Plant&Co (who's primary focus has been ensuring the CPG (consumer package goods) and the prepared foods offerings are fundamentally sound and ready for acceleration. "We have reviewed and adjusted business models, focused investments on priorities that have the greatest upside and return on investment as well as creating an innovation pipeline to capitalize on the many growth opportunities within the plant-based sector. Overall, we developed a new company strategy for accelerated growth and profitability. The Plant&Co team are excited to be moving into the executional phase."
Plant&Co has established a set of operational milestones for the next 6, 12 and 18 months. In the near term (within the next 6 months), the highlights of the first set of milestones are comprised of, but not limited to the following:
- Driving distribution of Holy Crap Cereals and proprietary YamChops products.
- Onboarding a company-wide chef to assist in the perfection of Plant&Co's innovation pipeline. We pride ourselves in the creation of great products and look forward to the creation of new plant-based foods that balance enjoyment and well-being.
- New brand launch that fills a gap in the current and planned future portfolio that will enable Plant&Co to access and attract new customers.
- Finalize production capacity to support growth of current products plus production of the new products pipeline.
- Expand infrastructure for effectiveness and operational efficiencies as the portfolio expands.
- M&A focused on the addition of great tasting products to Plant&Co's growing Sales & Distribution capabilities
- Return on Investment: constantly focused on generating returns for shareholders
As the company focuses on these near-term milestones, further updates will be given to shareholders on the 12 month and 18-month milestones as we get closer to those dates. The company's board and its management team remain focused on achieving growth by executing on the plans established over the summer months and will continue to improve operations as the business grows and expands throughout the plant-based sector.
Over the next few months more details of Plant&Co's strategy will become apparent and communicated to its shareholders as those milestones are achieved.
"In June of this year we welcomed Kevin Cole, and Alex and Mark Rechichi, three highly respected and accomplished food industry executives, to make an immediate impact to the growth prospects of Plant&Co," said Shawn Moniz, CEO of Plant&Co. "With their direct input in a thorough and careful examination of our operations and a deep analysis of the current business environment, we have implemented a number of important growth initiatives. In the short term were looking at operational efficiencies, expanding our food menu and our reach into new markets, assessing potential acquisition targets, and leveraging our relationships with our growing network of food stores to extend our reach and increase sales of our YamChops and Holy Crap Cereals. In the longer term we will be implementing additional strategic and competitive initiatives. This is an exciting time for Plant&Co as we enter our next phase of growth."
Market Opportunity
In a recent report released Bloomberg Intelligence, the value of the global plant protein market, estimated to be $29.4 billion in 2020, could surpass $162 billion by 2030[1], and make up approximately 7.7% of the global protein market[2]. In a report titled "Plant-based foods poised for explosive growth", Bloomberg outlines the likely factors for the continued rise of the plant protein market and list partnerships between companies like Beyond Meat, Impossible Foods, and Oatly with restaurants, plus traditional companies like the Kellogg Co. and Nestle SA ramping up distribution of plant-based products and showcasing them in promotional campaigns, as contributors to the recent expansion.
- Sales of plant-based meat and fish alternatives could reach 5% of the total meat and fish market by 2030.
- Plant-based dairy alternatives, largely comprised of milk alternatives, a mature market, could reach 10% of the total dairy market by 2030, up from 4.5% in 2020.The alternative meat market, currently at $4.2 billion, could reach $74 billion in the next 10 years if it follows a similar growth pattern to that of plant-based milk alternatives. Alternative meat accounts for under 1% of total meat category sales currently while plant-based milk alternatives make up almost 15% of total milk sales.
About Holy Crap Foods Inc.
At Holy Crap Foods Inc. our mission is to create products that create a healthy gut through simple, quality ingredients that ultimately feed the connection between gut and mind. Holy Crap is an organic breakfast cereal for today's consumer that expects their food to work hard for them. Our great tasting cereal helps maintain a healthy gut which creates a happy mind. For more information on the healthy and high-quality breakfast cereals visit: www.HolyCrap.com.
About YamChops
YamChops is a plant-based butcher shop based in Toronto, Ontario. Vegans, vegetarians, flexitarians and even meat enthusiasts love visiting the beautifully curated shop located in the heart of Toronto's food district. Whether customers sample YamChops' Tunaless "Tuna", Chick*n Schnitzel, Szechuan "Beef", Montreal Style "Steak", or browse their vegan grocery market assisted by its knowledgeable staff, customers will have an unforgettable experience at YamChops vegan butcher shop. YamChops' mission is to provide extraordinary plant-based foods and provide extraordinary service to its customers, with a vision to expand its plant based culinary experience and make YamChops the destination of choice for all consumers. For more product information please visit: www.YamChops.com.
About Plant&Co
Plant&Co. Brands Ltd. (CSE: VEGN) (FSE: VGP) (OTCQB: VGANF) is modern health and wellness company curating delicious plant-based foods. It offers a growing number of delicious plant-based food products through two leading plant-based brands Holy Crap Foods Inc. and YamChops, the vegan butcher. For more information please visit: www.HolyCrap.com www.YamChops.com www.PlantandCo.com.
For additional information, please contact:
Shawn Moniz
Chief Executive Officer
Plant & Co. Brands Ltd.
ir@plantandco.com
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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Plant&Co. Brands described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
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