Eat Beyond Portfolio Company, The Very Good Food Company, Announces Upgraded Facility is Now in Operation
VANCOUVER, BC, April 20, 2021 /CNW/ - 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.
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/
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SOURCE Eat Beyond Global Holdings Inc.
For media inquiries, please contact: [email protected]; For investment inquiries, please contact: [email protected]; For further information, please contact Patrick Morris at [email protected] or (236) 521-6499
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