VANCOUVER, British Columbia--(BUSINESS WIRE)--Eat Well Investment Group Inc., (the “Company” or “Eat Well Group” or “EWG”) (CN:EWG) (US:EWGFF) (FRA:6BC0) is pleased to announce that it’s majority-owned portfolio company, Amara Organic Foods (“Amara”), one of the fastest-growing baby food brands in America, is now available nationwide across Canada in Loblaws Inc. (“Loblaws”) (TSX:L).
Established in 1919, the Loblaws group of companies have over 2,400 locations across Canada and are one of North America’s leading grocery and pharmacy chains.
"We are incredibly excited to see Amara add another premier distribution point in Loblaws, one of Canada’s most well-known and established grocery stores. We look forward to seeing Amara become a house-hold name as it continues to rapidly disrupt legacy baby and toddler food brands,” stated Marc Aneed, Director and CEO of Eat Well Group. “We expect our revenue from our CPG investments to equate to approximately 25-35% of our anticipated $90-110M projected 2022 revenue,” continued Aneed.
National distribution to Loblaws locations across Canada adds to Amara’s strong retail footprint with distribution to many of North America’s leading big-box retailers, including; Whole Foods, Sprouts Farmer’s Market, and more. Amara is focused on accelerating its omnichannel sales distribution strategy and continued growth across natural health food stores and traditional big-box retailers, in addition to ecommerce.
Eat Well Group’s management believes Amara’s growth can be attributed to the global trend of consumers seeking nutritious plant-based foods to add into their everyday lifestyles, and Amara’s delicious toddler snacks and baby foods being 100% organic with excellent taste. The infant nutrition market is estimated to reach over $109 billion globally by 20271, and Amara is poised to be a leader in the plant-based segment.
For 15% off and free shipping on Amara products valid until January 31, 2022, visit www.amaraorganicfoods.com and enter the code: TASTETHEDIFFERENCE15
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ABOUT EAT WELL GROUP
Eat Well Group is a publicly-traded investment Company primarily focused on high-growth companies in the agribusiness, food tech, plant-based and ESG (environmental, social and governance) sectors. Eat Well Group’s management team has an extensive record of sourcing, financing and building successful companies across a broad range of industries and maintains a current investment mandate on the health/wellness industry. The team has financed and invested in early-stage venture companies for greater than 25 years, resulting in unparalleled access to deal flow and the ability to construct a portfolio of opportunistic investments intended to generate superior risk-adjusted returns.
Disclaimer for Forward Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities laws (collectively, “forward-looking information”). Forward-looking information are often, but not always, identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “likely” and “intend” and statements that an event or result “may,” “will,” “should,” “could” or “might” occur or be achieved and other similar expressions. Forward-looking information in this news release includes future anticipated business developments for the companies in which Eat Well Group invests. Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to the ability of the Company or its portfolio companies to execute their business plans. The Company considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those expressed or implied in the forward-looking information. Such risks include, without limitation: the failure to negotiate and execute additional investments in target industries, the ability of the Company to complete investments in a timely manner or at all; the receipt of requisite approvals to complete the additional investments; the ability of the Company to realize the expected benefits and synergies of investments; unexpected disruptions to the operations and businesses of the Company and investee entities as a result of the COVID-19 global pandemic or other disease outbreaks including a resurgence in the cases of COVID-19; the ability of the Company to comply with applicable government regulations in a regulated industry; any change in accounting practices or treatment affecting the consolidation of financial results adverse market conditions; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; costs of inputs; crop failures; litigation; currency fluctuations; competition; availability of capital and financing on acceptable terms; industry consolidation; loss of key management and/or employees; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. For more information on the Company and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
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