Sol Cuisine Products Selling Faster than Expected in Mexico
- In August, the Company entered the Mexican market in partnership with a large US-based wholesaler.
- The Company's products have been selling twice as fast as projected – initial order of Sol Cuisine's Cauliflower Chik'n Wings sold through in approximately 60 days.
MISSISSAUGA, ON, Nov. 2, 2021 /CNW/ - Sol Cuisine Ltd. ("Sol Cuisine" or the "Company") (TSXV: VEG) a growth-oriented North American plant-based protein leader, today announced that the Company's Buffalo Cauliflower Chik'n Wings (the "Products") have been selling twice as quickly as projected since their introduction into the Mexican market through a US-based wholesaler, in August. The consumer reception has resulted in initial sell-through of approximately 60 days.
John Flanagan, CEO of Sol Cuisine commented, "We are very pleased with the consumer acceptance and sales performance of our Buffalo Cauliflower Chik'n Wings, in Sol Cuisine's first foray into the Mexican market. Mexico is the country with the most vegans and vegetarians in Latin Americai, and with the significant social media traffic consumers have given Sol Cuisine in its early entry, we see a substantial opportunity to continue growing in the market."
For more details, visit Sol Cuisine's IR website at: investors.solcuisine.com or contact the IR team at [email protected].
About Sol Cuisine Ltd.
Sol Cuisine is the publicly traded parent company of Sol Cuisine Inc. following the completion of its "qualifying transaction" on May 19, 2021. Sol Cuisine is a fast-growing producer of branded and private label, consumer-preferred plant-based protein offerings across key center-of-plate and appetizer categories. The Company's products are offered through an established omni-channel distribution platform in Canada, the U.S. and Mexico, and are available in over 11,000 stores and more than 41,000 unique points of distribution across four primary channels: Canada Retail Sales & Club; U.S. Retail Sales & Club; Food Service & Industrial; and Private Label. Over a history of 20+ years, Sol Cuisine has consistently demonstrated an ability to innovate and delight consumers in Canada and the U.S., while remaining true to its commitment to producing great tasting products that are nutritionally superior both to meat-based offerings and to competitive plant-based products. This commitment has resulted in several Canadian product wins, including the #1 frozen plant-based burger in Canada, the #1 consumer-preferred chicken alternative and the #1 quality roast product as determined by Whole Foods Market. The Company's taste and nutritional superiority has also resulted in private label contracts with some of the most recognized natural brands in North America. These products are all produced at Sol Cuisine's two state of the art facilities, totaling 35,000 square foot facility in Mississauga, Ontario, capable of supporting up to 10 million kilograms of volume per annum.
For more details on Sol Cuisine's consumer brands:
Website: www.solcuisine.com
Instagram: @solcuisine
Facebook: @solcuisine
Twitter: @solcuisine
LinkedIn: @solcuisine
Forward Looking Statements
This press release includes forward-looking information within the meaning of Canadian securities laws regarding the Company and its business. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of each entity, and are based on assumptions and subject to risks and uncertainties. Although the management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this press release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the size of the industry, the growth of the market for the Company's products, the rate and quantity of production at the Company's facilities, market conditions, economic factors, management's ability to manage and to operate the business of the Company and the equity markets generally. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
The TSX Venture Exchange has not reviewed, approved, or disapproved the content of this news release.
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i NielsenIQ Global Health and Ingredient-Sentiment Survey, 2016 |
SOURCE Sol Cuisine Ltd.
John Flanagan, Chief Executive Officer, 905-502-8500; Jonathan Ross, Sol Cuisine Investor Relations, [email protected], 416-283-0178; Kieran Lawler, Sol Cuisine Public Relations, [email protected], 416-303-0799
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