SIMPLY BETTER BRANDS CORP.'S TRUBAR BRAND TO ASSIST SODEXO IN ACCELERATING THEIR CLEAN INGREDIENT, PLANT-BASED FOOD EFFORTS
Building on the significant momentum in both the U.S. and Canadian Markets, TRUBAR will now be available via one of the world's largest foodservice companies
VANCOUVER, BC, March 29, 2023 /CNW/ - Simply Better Brands Corp. ("SBBC" or the "Company") (TSXV: SBBC) (OTCQB: PKANF) is pleased to announce it has entered an agreement with Sodexo a French, multi-national company with 422,000 employees that provides food services, facilities management services, and employee benefits to 100 million consumers daily in 53 countries. This strategic relationship will enable Sodexo to accelerate its clean ingredient, plant-based food initiative and help it achieve its commitment to offer 33% plant-based dishes in their menus by 2025. For the initial launch phase, TRUBAR will begin work in the state of Texas in select micro-markets in Q2 2023. SBBC reports, expanded distribution and consumer demand has the company forecasting TRUBAR Q1 2023 revenues equal to or higher than all of 2022.
"COVID was a significant catalyst to consumers assessing their overall wellness. Never in our history have our consumers demanded cleaner ingredients on what they put in their body, like TRUBAR, or on their body, like our next generation No B.S. Skincare line. We are committed to accelerating science-based solutions in this critical space. As an example, TRUBAR adheres to the strict nutritional guardrails of dairy-free, soy-free, no sugar alcohol, vegan, non-GMO and gluten-free while still meeting the high hurdle on indulgent taste. We are excited to commence this initiative with Sodexo as they work to create a better every day for everyone to build a better life for all. As Sodexo's consumers demand a more diverse offering, we are proud to be part of the equation," says Kathy Casey, SBBC CEO.
"Working with SBBC is better for our clients, their customers and the communities we serve," said Sodexo CEO of Food Transformation and Service Operations, Husein Kitabwalla. "Their plant-based, allergen-free approach aligns well with consumer demand in nearly every setting Sodexo serves, from healthcare to universities – from convenience and vending to take-away meals. We are excited to be working together to deliver a better every day for the millions we serve daily."
Founded in Marseille, France, in 1966 by Pierre Bellon, Sodexo is the global leader in services that improve quality of life, an essential factor in individual and organizational performance. Operating in 56 countries, Sodexo serves 100 million consumers each day through its unique combination of On-site Food and Facilities Management Services, Benefits & Rewards Services, and Personal and Home Services.
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 X 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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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 and launch of product offerings; consumer expectations and interest in the Company's products; and future product expansion plans.
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 those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, changing consumer preferences, the impacts of COVID-19, that the Company's financial condition and development plans change, ability to obtain necessary regulatory approvals and product viability and risk, as well as the other risks and uncertainties applicable to the Company and the industries in which it operates, and as set forth in the Company's annual information form available under the Company's profile at www.sedar.com.
There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about the financial results for the quarter ended March 31, 2023, and the year ended December 31, 2023, including revenue, of which is subject to the same assumptions, risk factors, limitations, and qualifications as set out under the heading "Forward-Looking Information". The actual financial results of the Company may vary from the amounts set out herein and such variation may be material. The Company and its management believe that the financial outlook has been prepared on a reasonable basis, reflecting management's best estimates and judgments and the FOFI contained in this press release was approved by management as of the date hereof. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, the Company undertakes no obligation to update such FOFI. FOFI contained in this press release was made as of the date hereof and was provided for the purpose of providing further information about the Company's anticipated future business operations on a quarterly and annual basis. Readers are cautioned that the FOFI contained in this press release should not be used for purposes other than for which it is disclosed herein.
SOURCE Simply Better Brands Corp
Simply Better Brands Corp., Brian Meadows, Chief Financial Officer, +1 (855) 553-7441, [email protected]
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