VANCOUVER, BRITISH COLUMBIA, Dec. 14, 2021 (GLOBE NEWSWIRE) -- FEEL FOODS LTD. (‘Feel Foods’) (CSE: ‘FEEL’) (OTC: ‘FLLLF’) announced today its latest purchase order for its Black Sheep Vegan Cheeze products from Western Canadian distributor, Summit Specialty Foods (‘Summit’), representing an overall increase of 2,288% increase in just four months from the initial order.
Feel Foods CEO, David Greenway, stated: “Increased demand for plant-based products is happening across the sector and very strongly with dairy substitute products such as cheese and milk.”
“We are rapidly expanding our distribution throughout Western Canada with increased orders from Summit and are focused on a country wide expansion of our unique plant-based food products with the addition of TWA brokers and the recent granting of our CFIA license for US expansion.”
“Feel Foods will continue to grow its business through the acquisition of plant-based companies and the expansion of its distribution network,” concluded Greenway.
Further to this increased repeat order from Summit distributors, Feel Foods is working with Tony Waters Agencies Inc. (‘TWA’), a national natural food broker, as announced on October 19th, 2021. As a full-service broker, TWA will assist in bringing on additional distributors as well as provide sales representation to the Canadian natural foods market with full-service sales, administration and marketing support.
TWA has over 30 years of experience in the Canadian natural and organic marketplace and will work to expand sales on a national level and represent the company to large mass market accounts such as: Costco, Sobeys, Save On Foods, Metro, Loblaws, Thrifty Foods, Federation Co-op and many other large chain retailers.
Feel Foods was recently granted a ‘Safe Food for Canadians’ license from the Canadian Food Inspection Agency (‘CFIA’), allowing Feel Foods to sell its plant-based food products throughout Canada and export to other countries, including the United States (news release dated December 7th, 2021).
Summit Specialty Foods is a Western Canadian food distributor that manages over 125 brands and offers a full range of natural, organic and specialty products all these categories, including refrigerated, frozen and dry grocery. Summit offers daily shipping schedules to all retail channels including natural and organic food retailers, mass market grocery chains, independent grocery retailers, food service, commissary, restaurants, manufacturers, and farm markets.
Summit is an active vendor to the majority of mass, natural, and independent retailers in Western Canada, with strategic warehousing locations throughout Vancouver and Vancouver Island. Summit’s distribution network includes major retailers such as: Askews, Buy Low (Nesters & Shop n' Save), Choices Markets, London Drugs, Natural Markets Food Group (Mrs. Greens & Planet Organics), Nature's Fare, Overwaitea Food Group (Price Smart, Save on Foods & Urban Fare), Quality Greens, Safeway, Whole Foods and many more.
The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2 billion by 2027.* The growth of this market is mainly attributed to the factors such as increasing incidence of intolerance for animal protein, growing urbanization with new consumer aspirations, increasing vegan population, and significant venture investments in this sector.*
About Black Sheep Vegan Cheeze
Feel Foods wholly owned premium vegan cheese brand ‘Black Sheep Vegan Cheeze’ (‘Black Sheep’) was founded in 2017 and is currently producing variety of 10 unique vegan dairy substitute products at the company’s Okanagan commercial kitchen and R&D facility with an annual capacity of over 130,000 units. Black Sheep products are currently offered in over 40 grocery stores and approximately 30 food services locations throughout British Columbia including select locations at: IGA, Nesters, The Very Good Butchers, Pomme Natural, Natures Fare, Vegan Supply, and many other fine retailers across 16 cities throughout the province as well as online and in person at farmers markets.
For more information on Black Sheep’s products and story, visit: http://blacksheepvegancheeze.com/
About Feel Foods Ltd.
FEEL is an agri-food holdings company focused on innovative products and technologies in the food services industry, including its wholly owned Black Sheep Vegan Cheeze Company, offering a variety of 10 unique vegan dairy substitute products which are currently available in over 30 retail locations as well as its 100% owned Be Good Plant-based Foods line of plant-based chicken, pork and beef products. Feel Foods is currently investing in the research and development of keto-friendly plant-based candy products.
Joel T Warawa
Statistics Reference: * https://www.prnewswire.com/news-releases/global-plant-based-food-market-report-2020-2027-rising-industry-concentration-with-growth-in-mergers-and-acquisitions-in-the-plant-based-products-space-301268737.html
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including with respect to: the entry of the Consulting Agreements, the completion of the Acquisition and the acceptance of the Acquisition and terms thereof by the CSE. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The risks include the following: the unknown magnitude and duration of the effects of the COVID-19 pandemic, the inability of Feel Foods to close the Acquisition and other risks that are customary to transactions of this nature. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Feel Foods undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.
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