- The Very Good Food Company (CSE:VERY) has signed two new agreements which will significantly increase its distribution network
- The new agreements represent 55 new stores, and will expand the company’s points of distribution by over 30 per cent
- In related news, the company is about to commence the retail rollout of two new meat alternative products
- The company has also welcomed Olga Millman to the position of Director of Process & Engineering Options
- The Very Good Food Company (VERY) is down C$1.90 per cent and is currently trading at $1.03 per share
The Very Good Food Company (CSE:VERY) has signed two new agreements which will significantly increase its distribution network.
The company’s The Very Good Butcher brand has a new distribution agreement with Nesters Market and Buy-Low Foods. The agreement, which came into effect on July 1, 2020, represents an additional 25 stores added to the distribution network.
On July 15, 2020, The Very Good Food Company’s agreement with Sobeys will come into effect. This will bring an initial 30 Thrifty Foods stores in British Columbia and Alberta into distribution.
Combined, the two agreements represent 55 new stores, and increases the company’s points of distribution from 150 to over 200. This is an increase of over 30 per cent in locations.
The Very Good Food Company’s CEO, Mitchell Scott, commented on the two new distribution agreements.
“The Thrifty Foods agreement represents a particularly exciting milestone for the company, as it opens up the potential for significant expansion across the 1,500-store network operated by Sobeys.
“We are thrilled to have the support from one of North America’s largest grocery chains, as we look to rapidly scale from coast to coast,” he said.
In related news, The Very Good Food Company is about to roll out two new meat alternative products. The offerings are Very Good Pepperoni and Very Good Dogs, which will be released under The Very Good Butchers brand.
The company’s plant-based pepperoni and hotdogs will start showing up on store shelves in the coming weeks.
The Very Good Food Company has also welcomed a new member to its team. The company has chosen Olga Millman to take on the role of Director of Process & Engineering Operations.
Olga has prior experience in meat alternative businesses, such as Garden Protein International.
In her new position, she will scale up production at the company’s Victoria facility, to meet an influx of demand. She will also oversee the build-out and start-up of the company’s Vancouver facility, which is essential to product volume expansion.
The Very Good Food Company (VERY) is down 1.90 per cent and trading at C$1.03 per share at 12:06pm EDT.