- Plant&Co. Brands has acquired YamChops, Canada’s first plant-based butcher
- The company plans to leverage the newly-acquired distribution network
- It expects the popularity of plant-based products to continue to rise
- The purchase agreement involves cash, stock and settling of outstanding debt
- Plant&Co is up 15.38 per cent on the day, with shares trading at C$0.90
Plant&Co. Brands (VEGN) has acquired YamChops, Canada’s first plant-based butcher.
From a technical standpoint, the company is acquiring various Canadian corporations doing business as YamChops, a plant-based butcher shop based in Toronto.
With products like tuna-less “tuna,” and chick*n schnitzel, YamChops’ retail sales include over 17 proprietary plant-based meats, chicken, pork, fish, and various other vegan style food products in both a business-to-business and business-to-consumer revenue models.
Plant&Co’s strategy is to utilize the existing distribution networks and relationships for large and bulk ordering of plant-based product already in place with nation-wide distributors.
Plant&Co CEO Shawn Moniz said the acquisition of YamChops was part of the company’s M&A strategy to instantly arrive at the point of in-market sales of a known, trusted and established plant-based brand.
“This acquisition is truly transformational in adding to our growing portfolio of plant-based products and companies,” Moniz said.
With over a decade of product development, preparation, trademarks and distribution experience in the emerging plant-based food market, YamChops is known for its high-quality foods that taste great and customer service that is second to none, placing Plant&Co. in a leading position in the plant-base sector.
The purchase agreement involves a cash payment of $608,446.26 and 344,828 common shares, along with settling $161,553.74 of outstanding debt.
YamChops has been featured on TV and was once awarded the NOW Magazine Reader’s Choice Award for Best Butcher & Best Deli in Toronto.
YamChops has a retail location in the heart of Toronto’s food district and is also available via several food delivery services.
Plant&Co is up 15.38 per cent on the day, with shares trading at C$0.90 at 3:59pm EST.
