Eat Beyond Adds Above Food to its Portfolio
Eat Beyond Adds Above Food to its Portfolio
PR Newswire
VANCOUVER, BC and REGINA, SK, Jan. 21, 2021
Above Food's fast-growing, seed-to-fork plant-based platform serves over 35 countries and over 300 business customers
VANCOUVER, BC and REGINA, SK, Jan. 21, 2021 /PRNewswire/ - 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 it has completed an investment in Above Food Inc. ("Above Food").
Above Food develops and distributes premium, whole plant alternatives to meat and dairy by creating delicious, nutrient-dense consumer products and branded ingredients. It uses a proprietary blend of plant proteins created from heirloom pulses and gluten free grains. Above Food brings its products to market by leveraging strategic relationships with leading co-packers, distributors, and direct-to-consumer e-commerce platforms.
"We are thrilled to add Above Food to our portfolio, it is an established high-growth, vertically-integrated business that is focused on its proprietary seed-to-fork plant ingredients and plant protein. The company has established global distribution and saw revenue of $127M in the last twelve months alone," said Patrick Morris, CEO of Eat Beyond. "The company is growing quickly, and we are looking forward to supporting this growth as it continues to accelerate."
Above Food serves over 300 customers, in 35 countries currently, including many leading brands with its established B2B plant-ingredient and plant-protein platform. The company will also be launching its own B2C product line that includes plant-based meats, plant-based dairy, plant-based baby food, and plant-based bakery, beginning in 2021.
"What we've built is truly disruptive. The ability to have custody of these new proteins, including lentils, chickpeas, fava, peas and oats, from seed all the way through to the end consumers dinner plates, allows us to create nutrient density and superior functional performance across our B2B, Advanced Ingredient, and B2C lines of our business" – explains Lionel Kambeitz, Executive Chairman and Chief Executive Officer of Above Food Corp.
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.
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