- Eat Well Group forecasts approximately CAD$60 million in revenue for 2021
- It projects $90-$110 million in revenue for the 2022 calendar year, representing a double-digit growth rate for the company
- This growth will be primarily attributed to increased online sales through Walmart’s e-commerce platform, along with sales in brick and mortar stores at Walmart, Loblaws and HEB Grocery
- Eat Well Group also looks to grow its market reach through forging relationships and distribution partnerships with key players in the industry
The 2021 calendar year was successful for Eat Well Investment Group (CSE: EWG) (OTC: EWGFF). Most notably, the company has reaffirmed its forecast of approximately CAD$60 million in revenue, despite the challenges posed by the pandemic, supply chain clogs and the relative newness of its platform.
2021 also marked the year of several acquisitions, notably Belle Pulses, a plant-based ingredients processor, and Sapientia, a plant-based food technology platform. The year also marked Eat Well Group’s OTC listing in the United States to its Canadian Stock Exchange profile. For a company that essentially formed in 2021, it has achieved a lot and hopes to maintain the same momentum in the 2022 calendar year (https://ibn.fm/bOeZP).
“Eat Well Group is actually a company that’s very, very young. We just formed in ascension this past August thought it’s been decades in the making, and what it is is a plant-based foods platform company,” noted Mark Aneed, the chief executive officer (“CEO”), president and director of Eat Well Group (https://ibn.fm/bOeZP).
Eat Well Group is estimating revenues between $90 million and $110 million in 2022, which will mark a significant double-digit growth rate. This, it projects, will be heavily influenced by the anticipated high online sales through Walmart’s e-commerce platform, coupled with sales in brick and mortar stores such as Walmart, Loblaws and HEB Grocery Company (https://ibn.fm/aj6zY).
The company also hopes to extend its product range by more acquisitions, having recently acquired 51% ownership of Pata Foods, better known as Amara Organic Foods, with an option to obtain up to 80% if it wishes. In February, Eat Well Group announced securing new capital from a strategic group of investors for mergers and acquisitions (“M&A”) and general working activity for the new year (https://ibn.fm/aj6zY).
Going forward, Eat Well Group looks to capitalize on its distribution growth in Latin America and South America. Its leadership is confident that the structures set up and the investments made thus far will pay off significantly and help the company achieve its $90-$110 million revenue projections for the 2022 calendar year.
So far, the company has customers in over 35 countries worldwide. It hopes to grow this number in the new year through partnerships and distribution relationships with key players in the industry. Its management is confident that this will be a great year for the company, creating even more value for its shareholders.
For more information, visit the company’s website at www.EatWellGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to EWGFF are available in the company’s newsroom at https://ibn.fm/EWGFF
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