The plant-based boom could get red-hot in the new year. In fact, “Consumers expect every brand to have a plant-based option. That comes from vegans, vegetarians, but also flexitarians and non-vegans,” Sofia Popova, EMEA marketing director Food Manufacturers at Barry Callebaut, tells Food Ingredients First, which added that, “The research, involving more than 3,200 participants, shows that 60% of respondents expect food brands to offer a plant-based option compared with 43% for Gen X and Boomers, aged 45 to Dr 75.” Also, according to Meticulous Research, “The desire for clean labels, ease of digestion, the need or desire to avoid allergens, compatibility with vegetarian and vegan lifestyles, and concerns about sustainability among the general population are putting the spotlight on plant proteins.” That could be a substantial catalyst for Komo Plant Based Foods Inc. (CSE:YUM)(OTCQB:KOMOF)(FRA:9HB), Oatly Inc. (NASDAQ:OTLY), Tattooed Chef Inc, (NASDAQ:TTCF), Good Natured Products Inc. (TSXV:GDNP)(OTCL:SLGBF), and The Hain Celestial Group (NASDAQ:HAIN).
Look at Komo Plant Based Foods Inc. (CSE:YUM)(OTCQB:KOMOF)(FRA:9HB)
Komo Plant Based Foods, a premium plant-based food company, is pleased to announce it achieved record revenues for product sales in the month of December 2021. Komo’s December revenues of $69,999 were 104% higher than the previous month and 51% higher than its previous highest revenue month, which was October 2021. Komo’s gross profit margin for its three month interim period ended October 31, 2021 was 35%.
The increase in December revenues was mainly due to an increase in wholesale orders as Komo expands distribution to retail grocery chains. The December revenues also included revenues from the launch of Komo Eats hot meals through Uber Eats and Skip the Dishes.
Komo has experienced hyper growth since launching its brand on March 5th, 2021. Since that date, Komo introduced frozen, plant-based lasagnas, chickenless pot pies, bolognese sauces, taco fillings and shepherd’s pies through eCommerce, at Farmers markets and its retail distribution network. Komo has also developed a line of vegan Mac & Cheeze, Jackfruit Chick’n and vegan wrap as hot entrees through meal delivery apps. These avenues are aligned with Komo’s mission to make plant-based meals a staple at every dinner table. For full details on Komo’s growth in revenues see it’s reported financial results for the year ended July 31, 2021 and for the 3 month period ended October 31, 2021 please go to the issuer profile for “Komo Plant Based Foods Inc.” at SEDAR.com.
“Our significant increase in revenues in December was a surprise since we experienced many delays in distributing our products outside of British Columbia due to weather conditions and widespread labour shortages,” says Komo CEO William White. “We are very excited about our continued revenue growth as we expand throughout Canada and the United States. We know our products are well received by consumers as we continue to receive five star consumer reviews through our eCommerce platform and we are receiving consistent repeat orders in both wholesale and direct to consumer sales.”
Komo follows a two tier approach for its product launches. All products are first launched locally through Komo’s direct-to-consumer eCommerce platform in Metro Vancouver. Komo uses the consumer feedback to improve the product until it is ready for larger scale production through a co-manufacturing facility, and then gets distributed to retail stores through multiple distributors. Recently, Komo launched 11 new ready-to-eat meals through meal delivery apps and a ghost kitchen in Vancouver, British Columbia, allowing Komo another avenue for product development and customer feedback.
Other related developments from around the markets include:
Oatly Inc., the world’s original and largest oat drink company, announced that Björn Öste, a member of Oatly’s Board of Directors, has notified the Company of his plans to step down from the Board to pursue other interests, effective December 31, 2021. Following his departure, Oatly’s Board will consist of 12 directors, 10 of whom are independent. “On behalf of the entire organization, I’d like to thank Björn for his contributions to Oatly, including his relentless pursuit of innovation that helped build the company that we all have the pleasure to be a part of today,” said Eric Melloul, Chairman of the Oatly Board of Directors. “We have appreciated his insightful business perspective and wish him well in his future endeavors.”
Tattooed Chef Inc., a leader in plant based foods, announced that on December 21, 2021 it completed the acquisition of Belmont Confections, Inc., a private label co-manufacturer of snack bars, for approximately $18 million in cash and stock, subject to a customary adjustment based on working capital at closing. Belmont specializes in the development and manufacturing of a variety of snack bars. The 47,000 square foot facility in Youngstown, Ohio expands Tattooed Chef’s manufacturing capabilities into a new category and accelerates the Company’s expansion into ambient and refrigerated products. The Company plans to launch new Tattooed Chef branded plant based bars in 2022.
good natured products Inc., a North American leader in plant-based products and packaging, today announced its financial results for the three months and nine months ended September 30, 2021. The Company's Q3 2021 year-over-year revenue growth of almost 300% benefited from robust market demand, a full fiscal quarter of contribution from the recent acquisition of Ex-Tech Plastics Inc., and the addition of a range of new customer accounts, including initial shipments to a large US food producer estimated to deliver approximately USD $13 million in its first year, as announced on October 13, 2021. Q3 2021 also saw the Company's recurring B2B customer base expand to over 850 active accounts, more than doubling compared to 400 B2B customers on September 30, 2020.
The Hain Celestial Group announced the completion of its acquisition of That’s How We Roll from Clearlake Capital Group. That’s How We Roll is the producer and marketer of ParmCrisps® and Thinsters®, two fast-growing brands offering simple and delicious, better-for-you snacks. The total purchase price was approximately $259 million in cash, subject to an adjustment for working capital. “ParmCrisps® and Thinsters® are great additions to Hain's growing portfolio of better-for-you snacking brands, and we are excited to get to work with That’s How We Roll’s talented and innovative team,” said Mark Schiller, President and Chief Executive Officer of Hain.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Komo Plant Based Foods for Komo Plant Base Foods. We own ZERO shares of Komo Plant Based Foods. Please click here for full disclaimer.
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