- Eat Well Investment Group has focused on expanding its product offerings, targeting both small and large businesses, and has successfully grown its retail footprint with the addition of notable retailers in both the U.S. and Canada
- Its aggressive expansion has seen Eat Well serve customers in over 35 countries, with projected revenue of $100 million in 2022
- The company is confident that, with current opportunities in the plant-based sector, it will achieve its 2022 revenue target and create value for its shareholders
At the close of the 2021 calendar year, Eat Well Investment Group (CSE: EWG) (OTC: EWGFF) announced the appointment of Marc Aneed as its new Chief Executive Officer (“CEO”). Mr. Aneed, having taken over from retiring David Doherty, assured investors that the company would also remain focused on driving shareholder value into 2022 and beyond (https://ibn.fm/u9QQE).
Under his leadership, Eat Well Investment Group has disrupted the multi-billion snack food market. In addition, it has fortified its vertically integrated approach to feeding people delicious, more nutritious food, at a lower cost. The company also completed strategic acquisitions, most notably, Sapientia. In addition, Eat Well closed a strategic investment from Nurture Health Food LLP. Mr. A need notes that this investment will be integral to the company’s international growth while setting the stage for further collaboration (https://ibn.fm/4U687).
Eat Well’s aggressive expansion under Mr. Aneed’s leadership would also see the company announce that its majority-owned portfolio company, Amara Organic Foods, would be available in approximately 200 HEB Grocery Company, LP locations across the U.S. within the first quarter of the 2022 fiscal year. The additional distribution added to Amara’s strong retail footprint, which comprised Walmart Canada, Whole Foods, Costco, Sprouts Farmer’s Market, Sobeys, and Loblaws.
In June, Eat Well announced the addition of another distributor to its roster – The Kroger Co. While making the announcement, Eat Well noted that Amara Organic Foods would now be available on The Kroger Co.’s eCommerce platforms, a welcome addition to Amara’s omnichannel sales distribution strategy (https://ibn.fm/FdRPU).
“Increased distribution through eCommerce channels continues to be a strategic focus of Amara to drive both topline revenue and to maximize margins that come from a DTC environment,” noted Jessica Sturzenegger, Amara’s CEO.
Eat Well now has customers in over 35 countries. With $57.9 million (Canadian) in revenue posted in 2021, the company is confident that, with the added distribution channels and partners, its portfolio will achieve approximately $100 million in revenue in 2022. This target will also be achieved by Eat Well’s plan to upgrade and expand its production facilities to meet demand increases through its portfolio company, Belle Pulses.
In 2021, Belle produced approximately 90,000 metric tons of protein. With the recent spike in global demand, fueled by Russia’s invasion of Ukraine, Belle has announced plans to increase shifts at its main plant in Saskatchewan to increase Canadian annual production capacity to nearly 100,000 metric tons annually. In addition, the company will also add up to an additional 15,000 metric tons per year of annual production capacity at its United States facility (https://ibn.fm/Aurer).
“Belle is receiving increased recognition from international customers looking to secure quality, safe and reliable proteins at scale,” noted Mark Coles, Eat Well’s Chief Investment Officer (“CIO”).
“Shareholders should know that Belle is increasing its production capacity as it is our goal to help support the global food industry. We will continue to expand Belle’s operations and are looking forward to showing the world its ability to procure, process, and deliver proteins to the international marketplace,” he added.
With the growing demand for food, given current global supply chain interruptions and the growing potential of the plant-based sector, Eat Well Investment group is optimistic that its future is bright. Through its strategic investments and partnerships with key distributors in the industry, the company is confident that it will achieve its 2022 revenue targets while also creating tremendous 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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