The Giant Company to Offer
Mmm Meatballs, Cajun Sausage, Bratwurst Sausage, and The Stuffed
Beast in 130 Stores
VANCOUVER, BC, July 7, 2022
/CNW/ - The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV:
VERY.V) (FSE: OSI) ("VERY GOOD" or the "Company"), is pleased to
announce increased U.S. retail expansion via a new agreement with
The Giant Company ("Giant"). With Giant's presence throughout
Pennsylvania, Maryland, Virginia, and West
Virginia as well as online shopping and delivery to
New Jersey, this retail
distribution significantly expands VERY GOOD'S product availability
on the U.S. Eastern Seaboard.
Giant has made the strategic decision to increase its assortment
of plant-based foods as it strengthens its emphasis on healthy
eating, and the retailer believes VERY GOOD's product offering will
attract a wide range of shoppers, from those avoiding animal
products to others trying flexitarian or vegetarian diets.
VERY GOOD'S Butcher's Select line including Mmm Meatballs,
Cajun, and Bratwurst Sausages, along with The Stuffed Beast
from Very Good Butchers' original line of products, will be
placed within the Healthy, Natural, Organic (HNO) section of Giant
stores.
VERY GOOD's CEO, Parimal
Rana, commented on the Company's new distribution with
Giant. "This is yet another win for our team in line with our
refocused strategy of expanding our retail footprint Giant is known
as a forward-thinking company and has a history of successfully
introducing innovative brands to consumers. Their inclusion of our
Meatballs, Cajun & Bratwurst sausages, and The Stuffed Beast
products is yet another opportunity for us to gain new customer
adoption. With our natural and clean plant-based ingredients, we
are confident in our products' ability to perform well within
Giant's HNO venue".
VERY GOOD targets the plant-based foods market opportunity with
a differentiated approach - by creating plant-based food options
from whole food ingredients, without compromising taste and
texture.
About The Giant Company
The Giant Company is an
American supermarket chain that operates stores
in Pennsylvania, Maryland, Virginia, and West
Virginia and provides online shopping and delivery to
New Jersey
through Giant Direct. The Giant Co. is a
subsidiary of Ahold Delhaize, which also owns
similarly-named Giant Food of Landover,
Maryland.
The Giant Company is operates 190 stores, 133
pharmacies, 105 fuel stations, and 175 grocery pickup hubs. Sister
companies include Food Lion, Stop & Shop,
and Hannaford Supermarkets; which are all subsidiaries of
Ahold Delhaize.
About The VERY GOOD Food Company
Inc.
The VERY GOOD Food Company Inc. is an emerging plant-based food
technology company that produces nutritious and delicious
plant-based meat and cheese products under VERY GOOD's core brands:
The VERY GOOD Butchers and The VERY GOOD Cheese Co.
www.verygoodfood.com.
OUR MISSION IS LOFTY BUT BEAUTIFULLY SIMPLE: GET MILLIONS TO
RETHINK THEIR FOOD CHOICES WHILE HELPING THEM DO THE WORLD A WORLD
OF GOOD. BY OFFERING PLANT-BASED FOOD OPTIONS SO DELICIOUS AND
NUTRITIOUS, WE'RE HELPING THIS KIND OF DIET BECOME THE NORM.
ON BEHALF OF THE VERY GOOD FOOD COMPANY INC.
Parimal Rana
Chief Executive Officer
Forward-Looking
Statements
This news release contains "forward-looking information" within
the meaning of applicable securities laws in Canada and "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995, including Section 21E of the Securities
Exchange Act of 1934, as amended (collectively referred to as
"forward-looking information"), for the purpose of providing
information about management's current expectations and plans
relating to the future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes.
Forward-looking information may be identified by words such as
"plans", "proposed", "expects", "anticipates", "intends",
"estimates", "may", "will", and similar expressions.
Forward-looking information contained or referred to in this news
release includes, but is not limited to: the new distribution
agreement with Giant including the number of stores expected to
carry VERY GOOD's products, the types of products expected to be
carried and the benefits the Company expects to derive from the
Giant listing
, as well as VERY GOOD's beliefs as to the health and
nutritional attributes of its products and their ability to perform
well within Giant's HNO venue, and
its differentiated approach in the plant-based market.
Forward-looking information is based on a number of factors and
assumptions which have been used to develop such information, but
which may prove to be incorrect including, but not limited to,
material assumptions with respect to the Company's ability to
continue as a going concern; the Company's ability to manage recent
personnel changes; and the Company's ability to successfully
execute on its updated business strategy outlined in its most
recently filed interim Management's Discussion and Analysis for the
three months ended March 31, 2022,
which is available at www.sedar.com and www.sec.gov. The Company's
ability to execute on its strategy may also depend on the Company's
ability to accurately forecast customer demand for its products and
manage its current and future inventory levels, continued demand
for VERY GOOD's products, continued growth of the popularity of
meat alternatives and the plant-based food industry, no material
deterioration in general business and economic conditions, the
successful placement of VERY GOOD's products in retail stores and
distribution in the food service channel, the Company's ability to
remain listed on the Nasdaq, VERY GOOD's ability to successfully
enter new markets, VERY GOOD's ability to obtain necessary
production equipment and human resources as needed, VERY GOOD's
relationship with its suppliers, distributors and third-party
logistics providers, and management's ability to position VERY GOOD
competitively. Although the Company believes that the expectations
reflected in such forward-looking information are reasonable, undue
reliance should not be placed on forward-looking information
because VERY GOOD can give no assurance that such expectations will
prove to be correct. Risks and uncertainties that could cause
actual results, performance or achievements of VERY GOOD to differ
materially from those expressed or implied in such forward-looking
information include, among others, the impact of, uncertainties and
risks associated with negative cash flow and future financing
requirements to sustain and grow operations, limited history of
operations and revenues and no history of earnings or dividends,
competition, risks relating to the availability of raw materials,
risks relating to regulation on social media, expansion of
facilities, risks related to credit facilities, dependence on
senior management and key personnel, availability of labor, general
business risk and liability, regulation of the food industry,
change in laws, regulations and guidelines, compliance with laws,
risks related to third party logistics providers, unfavorable
publicity or consumer perception, increased costs as a result of
being a United States public
company, product liability and product recalls, risks related to
intellectual property, risks relating to co-manufacturing, risks
related to expansion into the United
States; risks related to our acquisition strategy, taxation
risks, difficulties with forecasts, management of growth and
litigation as well as the risks associated with the ongoing
COVID-19 pandemic. For a more comprehensive discussion of the risks
faced by VERY GOOD, please refer to VERY GOOD's most recent Annual
Information Form filed with Canadian securities regulatory
authorities at www.sedar.com and as an exhibit to the Form 20-F
filed with the SEC on May 26, 2022
and available at www.sec.gov. The forward-looking information in
this news release reflects the current expectations, assumptions
and/or beliefs of the Company based on information currently
available. Any forward-looking information speaks only as of the
date of this news release. VERY GOOD undertakes no obligation to
publicly update or revise any forward-looking information whether
because of new information, future events or otherwise, except as
otherwise required by law. The forward-looking information
contained in this news release is expressly qualified by this
cautionary statement.
None of the Nasdaq Stock Market LLC, TSX Venture Exchange, the
SEC or any other securities regulator has either approved or
disapproved the contents of this news release.
None of the Nasdaq, the TSX Venture Exchange or its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange), the SEC or any other securities regulator
accepts responsibility for the adequacy or accuracy of this news
release.
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SOURCE The Very Good Food Company Inc.