Specializing in a Number of Plant-Based mostly Meats & Assortment of Vegan Meals
Toronto, Ontario – January 19, 2021 – Plant&Co. Manufacturers Ltd. (CSE: VEGN) (FSE: VGP) (OTCPK: VGANF) (“Plant&Co.” or the “Firm”), a contemporary well being and wellness firm curating scrumptious plant-based meals, is happy to announce it has acquired numerous Canadian companies doing enterprise as YamChopsTM ~ Grown not raised ~, which specializes within the preparation, distribution, and retail gross sales of over 17 proprietary plant-based meats, hen, pork, fish, and numerous different vegan model meals merchandise in each a business-to-business (B2B) and business-to-consumer (B2C) income fashions.
As soon as featured on TV’s well-known Dragons Den and named NOW Journal Reader’s Alternative Award for “Finest Butcher & Finest Deli” in Toronto! YamChops is taken into account one among North America’s first and Canada’s solely plant-based butcher store. For over 12 profitable years, it has specialised within the growth, preparation, and distribution of plant-based meats and different vegan model meals merchandise. YamChops has a retail location within the coronary heart of Toronto’s meals district and it enjoys in style demand on 4 of the most well-liked meals supply platforms: Uber Eats, Skip the Dishes, Nook Store and Ritual One.
“The acquisition of YamChops was a part of the corporate’s M&A method to immediately arrive on the level of in-market gross sales of a identified, trusted and established plant-based model. This acquisition is really transformational in including to our rising portfolio of plant-based merchandise and firms,” stated Shawn Moniz, CEO of Plant&Co. Manufacturers. “With over a decade of product growth, preparation, emblems and distribution expertise within the rising plant-based meals market, YamChops is understood for its high-quality meals that style nice and customer support that’s second to none, inserting Plant&Co. in a number one place within the plant-base sector. Creating scrumptious plant-based meals that compete with meat is an artwork kind which the YamChops’ workforce has perfected. We now have an ideal alternative to leverage the current development in reputation of those wholesome meat and dairy product options and develop our newly acquired enterprise throughout North America and past.”
Plant&Co’s technique is to make the most of the present distribution networks and B2B relationships for big and bulk ordering of plant-based product already in place with nation-wide distributors, reminiscent of Grande Cheese, United Pure Meals Inc (UNFI), Complete Meals, London Medication, Natural Storage, Nature’s Emporium, Selections Markets, The Large Carrot, Pure Meals Ambrosia, and Natures Fare Markets, to quickly develop and develop the 17 proprietary plant-based merchandise of YamChops to new and rising markets not solely in Canada however to the explosive US markets. YamChops at present has B2B distribution to Sobey’s London, Pusateri’s, and Nature’s Emporium.
“Our new YamChops workforce will work intently with our Holy Crap workforce and advisory board to leverage the bodily and digital footprints of every firm’s present buyer following (numbering within the tens of 1000’s of shoppers distinctive to every model). By advertising a consolidated umbrella of merchandise by way of focused gross sales channels and new and established footholds within the rising plant-based North American markets, we can cross-pollinate assets and amplify gross sales inside Plant&Co’s household of manufacturers and merchandise,” proceed Mr. Moniz.
he YamChops plant-based butcher store is about up like every neighbourhood butcher store. Prospects can discover a butcher counter with a glass case filled with vegetarian and vegan delicacies on show. These scrumptious meals merchandise have been perfected through the years and embody YamChops’ very personal plant-based:
• Beef, hen and lamb burgers,
• Sausages, ribs and bacon, and
• Vegetarian spin-offs of “hen teriyaki” and “tuna salad” made
from chickpeas.
YamChops additionally provides meals past the plant-based butcher block reminiscent of condiments to enhance its important sights. Chutneys, pickled greens and sauces like Mongolian beef sauce can be found at their retailers. YamChops additionally provides a line of juices referred to as “Au Jus”.
YamChops’ success was acknowledged in a current Wall Road Journal article, naming the corporate as a pacesetter within the race to for a bit of the faux-meat market, being named beside a titan of the enterprise, Tofurky.
https://www.wsj.com/articles/tried-tofurky-maybe-its-time-for-yamchops-and-incogmeato-11606420989
YamChops was thought-about a path blazer when it established operations in 2008 and started the preparation of plant-based meats and meals specialty merchandise. At present, as plant-based meals merchandise have entered the mainstream and are included on the purchasing record of many patrons throughout North America, YamChops has firmly established its management place {the marketplace} and is poised for development. The gross sales of plant-based meats in North America, a meals class that didn’t exist a decade in the past, grew to nearly US $800 million in 2019, up 37 per cent from 2017. In line with analysis agency Euromonitor Worldwide, plant-based meats gross sales may attain over US $2.5 billion by 2023.
YamChops provides high-quality plant-based meals merchandise that attraction to all sorts of eaters: vegans, vegetarians, flexitarians and people who are merely selecting to cut back their meat, fish and dairy consumption. It’s trying to take its distinctive and high-quality meals merchandise coupled with unmatched customer support past the market of Toronto to the remainder of Canada and throughout North America.
Transaction Construction
On January 18, 2021, the Issuer entered right into a definitive share buy settlement (the “Settlement”) with 2574578 Ontario Inc. (“257”) and JDB Improvements Ltd. (“JDB”, and along with 257, “YamChops”) and every of the shareholders of YamChops (the “Distributors”) to amass the entire issued and excellent shares of YamChops (the “Transaction”).
As consideration for the Acquisition of YamChops, the Firm (i) made an mixture money fee of $608,446.26 to the Distributors (the “Money Cost”); (ii) issued 344,828 frequent shares to the Distributors (the “Consideration Shares”); and (iii) settled sure excellent money owed of YamChops held by third-parties within the quantity of $161,553.74 (the “Debt Settlement”). The Consideration Shares are topic to voluntary pooling restrictions from which 100% of the Consideration Shares might be launched on February 17, 2021.
The Firm is at arms-length from YamChops and its shareholders. The Transaction neither constitutes a elementary change nor a change of enterprise for the Firm, nor has it resulted in a change of management of the Firm throughout the which means of relevant securities legal guidelines and the insurance policies of the Canadian Securities Alternate. In reference to the completion of the Transaction, the Firm has issued 109,589 frequent shares to an arms-length third get together who assisted with facilitating the Transaction.
The Firm additionally pronounces it has granted incentive inventory choices to buy a complete of 750,000 frequent shares at an train worth of $0.78 per share for a interval of two years to sure administrators and officers in accordance with the provisions of its inventory choice plan.
About YamChops
YamChops is a plant-based butcher store primarily based in Toronto, Ontario. Vegans, vegetarians, flexitarians and even meat fanatics love visiting the superbly curated store situated within the coronary heart of Toronto’s meals district. Whether or not prospects pattern YamChops’ Tunaless “Tuna”, Chick*n Schnitzel, Szechuan “Beef”, Montreal Type “Steak”, or browse their vegan grocery assisted by its educated workers, prospects can have an unforgettable expertise at YamChops vegan butcher store. YamChops’ mission is to supply extraordinary plant-based meals and supply extraordinary service to its prospects, with a imaginative and prescient to develop its plant primarily based culinary expertise and make YamChops the vacation spot of selection for all customers. For extra product data please go to: www.YamChops.com.
About Plant&Co. Manufacturers Ltd.
Plant&Co. Manufacturers Ltd. (CSE: VEGN) (FSE: VGP) (OTCPK: VGANF) is fashionable well being and wellness firm curating scrumptious plant-based meals. For extra data please go to: www.PlantandCo.com.
For added data, please contact:
Shawn Moniz
Chief Govt Officer
[email protected]
Neither the Canadian Securities Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the Canadian Securities Alternate) accepts accountability for the adequacy or accuracy of this press launch, which has been ready by administration.
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