VANCOUVER, BC, Aug. 19, 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 (TSXV: VERY) ("VERY GOOD") is ramping up
production at its Rupert facility and is poised to begin initial
production at its California
facility.
At its Rupert facility, located in Vancouver, Canada, the first production line
("Line 1") is now producing four times the daily production
volume of VERY GOOD's Victoria
facility. Line 1 was commissioned in April
2021 with some food production starting in May. Currently
producing an average of 13,000 lbs of product per day, Line 1 will
ramp up production with a target of producing 60,000 lbs of product
per day in Q1 2022 in order to support the increasing demand for
VERY GOOD's products.
VERY GOOD will be also commissioning its second production line
("Line 2") at the Rupert facility in Q4 2021 which will be
dedicated to the production of its new highly anticipated
gluten-free and soy-free Butcher's Select Line. This premium
line is set to compete with the likes of Beyond Meat and Impossible
Foods by packing an extra meaty taste and texture while using
simple and wholesome ingredients. The Butcher's Select line
will not only appeal to households interested in a more plant-based
diet but also extends VERY GOOD's consumer base to the estimated
30% of Americans who avoid gluten. Line 2 will also allow for
expansion into the North American food service channel, as VERY
GOOD recently partnered with two leading meal kits and food service
providers.
"By acquiring its first large-scale, 45,000 sq ft production
facility, VERY GOOD has been able to expertly scale its production
line capacity," said Eat Beyond CEO Michael
Aucoin. "The addition of the Rupert facility's manufacturing
capability is important as the demand for VERY GOOD products grows
and as the Butcher's Select line will move the brand more directly
into competition with Impossible Foods and Beyond Meat in the
plant-based protein sector."
VERY GOOD will also begin initial food production at its
Patterson facility, in
California, starting in
September. Production will start on a commercial-grade
kitchen equipment line to fast-track the production of Taco
Stuff'er, one of VERY GOOD's most in-demand SKUs. Installation
of the facility's first major production line is underway and is
targeted for completion in Q2 2022. Once commissioned, Patterson's Line 1 will produce The Very Good
Butchers' various unique products which have not yet been scaled
and will have the capability to make the brand's original suite of
products. Once commissioned, Line 1 is expected to produce an
average of 27 million lbs of product per year when fully
operational.
"The expanded production capacity in major markets along the
West Coast enables VERY GOOD to further expand its product listings
and SKUs which will help drive sales to its e-Commerce and retail
channels," Aucoin said. "In addition, the balanced product
portfolio will help VERY GOOD diversify its revenue streams by
growing additional partnerships in the food service channel, an
important market opportunity for plant-based food producers."
Learn more about The Very Good Food Company
here: https://verygoodfood.com/investors.html
Subscribe to updates about Eat Beyond Global
here: https://eatbeyondglobal.com/contact/
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.
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.