TORONTO--(BUSINESS WIRE)--General Assembly Holdings Limited (“GA Pizza” or the “Company”), a fast-casual, Toronto pizza restaurant turned omnichannel consumer packaged goods (“CPG”) brand, announced today that it is available for trading on the TSX Venture Exchange (“TSXV”) under the symbol “GA.” GA Pizza’s premium line of naturally leavened, freezer-to-table pizzas debuted in April 2020, and kickstarted a rapid transformation that today includes an innovative direct-to-consumer (“DTC”) offering—a frozen pizza subscription and a pizza gifting service—and a budding grocery presence, in addition to an array of hot pizza offerings including the restaurant. The chef-made artisanal frozen pizza line now features 9 pizzas, including 7 plant-based or meat-free options, and caters to consumers’ need for convenient, better-for-you products, without compromise.
GA Pizza is the first-ever premium frozen pizza brand to go public on the TSXV, a move that follows an oversubscribed Series A funding round completed in February 2021. This momentum continues to be fueled by GA Pizza’s unique contribution to the booming DTC ready-to-eat and meal kit spaces: GA Pizza Club, their frozen pizza subscription launched in September 2020. The pizza-as-a-service play netted GA Pizza over 10,000 subscription orders across Southwestern Ontario in Q1 2021—representing a 284% increase quarter-over-quarter.
Ali Khan Lalani, Founder and CEO of GA Pizza said: “We’re excited and proud to be where we are today. Since launching our freezer-to-table line, we’ve sold over 250,000 frozen pizzas and more than doubled our wholesale footprint to 65+ retail partners—and we’ve done it all from within the four walls of our original flagship restaurant in the heart of Toronto.”
With the North American frozen pizza market expected to reach US$17.3B by 2023,1 GA Pizza is poised to take their freezer-to-table pizza to new heights, having secured a master production facility that will scale production to 10,000 pizzas per day by Q4 2021—which is five times the current daily production capacity. While the resilience and ingenuity of the GA Pizza team have paved the way for today’s public listing, Lalani explained that rapid expansion is the path forward: “Our goal is to make delicious pizzas available to everyone, everywhere—and that’s what’s driving GA Pizza’s next chapter. Our team is now hyper-focused on accelerating our growth strategy—scaling production and unlocking new market opportunities across Canada and North America in the direct-to-consumer channel, while increasing our grocery presence.”
About GA Pizza
GA Pizza began its life as a fast-casual pizza restaurant in the heart of Toronto. Three years later, we also offer a freezer-to-table pizza with a groundbreaking direct-to-consumer platform: a pizza subscription (gapizzaclub.com) and a gifting service (give.gapizza.com). Our ambition? Make delicious pizzas available to everyone, everywhere. We’re always working to take pizza to new heights—from showing the world that better pizza is possible, to finding new spaces and places to deliver unrivaled pizza experiences. Find us at the grocery store or visit gapizza.com.
Visit invest.gapizza.com for more information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This press release contains statements which constitute “forward-looking information” or “forward-looking statements” (together “forward-looking information”) within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding anticipated increases to the Company's production capacity at the master facility and the Company's growth strategy.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among key factors and risks that could cause actual results to differ materially from those projected in the forward-looking information may include, without limitation, the following: there being no market for the securities of the Company; the Company’s limited operating history; global economic risk; COVID-19’s impact on the Company; the general economic environment; cybersecurity risks; financial projections may prove materially inaccurate or incorrect; the Company may experience difficulties to forecast sales; general competition in the industry from other companies; management of growth-related risks; reliance on management; risks relating to insurance; changes in food and supply costs could adversely affect profitability and ultimately our results of operations; our business could be adversely affected by increased labour costs or difficulties in finding suitable employees; changes in customer tastes and preferences, spending patterns and demographic trends could cause sales to decline; changes in nutrition and food regulation; failure to establish our master production facility; failure to expand production capacity; disruption at our facilities; government regulation of the food industry creating risks and challenges; risk associated with food safety and consumer health; changes in internet and social media search algorithms; risks associated with leasing commercial and retail space; third party reliance for shipping and payment processing; environmental laws; we may not persuade customers of the benefits of paying our prices for higher-quality food; our marketing and advertising strategies may not be successful, which could adversely impact our business; requirements for further financing; the Company may prioritize customer growth and engagement and the customer experience over short-term financial results. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
1. “Frozen Pizza Market Growth & Trends” (Grand View Research, 2020)
