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Eat Beyond Announces Portfolio Company Eat Just Inc.'s JUST Egg Product to be Served at Leading Fast-Food Chain in China, and Marketing Agreement

·4 min read

Dicos, which serves over 600 million consumers annually will add JUST Egg to its core breakfast menu offering

VANCOUVER, BC, Jan. 14, 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 Dicos, one of China's leading fast-food chains, has added Eat Beyond portfolio company Eat Just Inc.'s product JUST Egg to its menu at over 500 locations.

Eat Beyond Global Holdings (CNW Group/Eat Beyond Global Holdings Inc.)
Eat Beyond Global Holdings (CNW Group/Eat Beyond Global Holdings Inc.)

Dicos is one of the largest foodservice companies in China, with 2,600 stores across 32 provinces and autonomous regions serving 600 million consumers annually.

Dicos' conventional egg patty will be replaced with JUST Egg's folded egg product. JUST Egg products taste just like eggs, are packed with clean, sustainable protein and are made entirely from plants. The folded egg product was named Best New Frozen Product at Expo West's NEXTY Awards in 2020.

"To have a leading quick service restaurant exchange an animal-based product for a plant-based product across several of its regular menu offerings is a first in the industry," said Patrick Morris, CEO of Eat Beyond. "It is also exciting to see one of China's leading restaurants embracing more sustainable, plant-based options. This is a leading indicator that tells me we are likely to see this trend continue."

Weibo and WeChat in addition to Douyin and Kuaishou video-sharing platforms will be used to build awareness about the new menu item and will feature a series of breakfast "unboxing" videos from key opinion leaders in technology.

Since 2019, JUST Egg has been available in China via e-commerce platforms such as Alibaba-owned Tmall and JD.com, as well as in select brick-and-mortar retail and foodservice locations. The product has seen year-over-year growth of 70% in China via these channels.

Marketing Agreement

The Company also announces that it has extended its service contract (the "Service Contract") announced December 2, 2020 with Media Relations Publishing, Carsten Schmider ("Media Relations"), to provide marketing and consulting services, including certain investor relations services, for the purpose of creating market awareness of the Company. The Service Contract extension includes payment of EUR 200,000 for a six-week period commencing January 19, 2021.

About Eat Just, Inc.

Eat Just, Inc. is on a mission to build a food system where everyone eats well. The company's world-class team of scientists and researchers leverage a one-of-a-kind discovery platform for food ingredient innovation and Michelin starred chefs combine these discoveries with decades of culinary expertise to create delicious, accessible, healthier and more sustainable products. We have been recognized as one of Fast Company's "Most Innovative Companies," Entrepreneur's "100 Brilliant Companies," CNBC's "Disruptor 50" and a World Economic Forum Technology Pioneer. The company's flagship plant-based egg was named among Popular Science's "100 Greatest Innovations," Fast Company's "World Changing Ideas" and, most recently, its new folded plant-based egg won "Best New Frozen Product" at Expo West's NEXTY Awards and Delicious Living's "Best Bite Awards." For more information, visit http://ju.st.

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/

Find Eat Beyond on Social Media on LinkedIn, Instagram, Twitter and Facebook

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SOURCE Eat Beyond Global Holdings Inc.

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