Very Good Food Company (OTCMKTS:VRYYF), a leading plant-based food technology company, confirmed that the US wholesale retail distribution channel has achieved over 100 retail stores under its core brand, The Very Good Butchers.
During the year, the company secured first sales order in the country from GTFO Its Vegan, a California-based online vegan grocery store. The firm has since expanded distribution partnerships with some retailers including Colorado-based natural food and beverage and brokerage, Green Spoon Sales; pure play wholesale food distributor of natural and organic fresh food, KeHE Distributors as well as United Natural Foods, the largest publicly traded wholesale distributor of health and specialty food in North America.
The firm will now distribute products across retail distribution points in North America, increasing from 1,356 in March 2021 to about 2,876, jump of 112%.
Mitchell Scott, Co-Founder & CEO of The Very Good Food Company, said that the firm has focused on augmenting production capabilities as well as coming out with expansive plant-based product line. He added that since healthy eating has become the new norm, the firm is proud to partner with some of the most reputed natural food distributors in the country.
Earlier, the firm had said its coast-to-coast expansion plans in Canada through new wholesale distribution partnership with Horizon Grocery + Wellness.
Market Reaction:
As of 1:32, VRYYF stock fell 1% at $2.95 with more than 158k shares, compared to its average volume of 148k shares. The stock had moved within a range of $2.9000 – 3.2000 after opening the trade at $3.20. Over the past 52-week, the stock has been trading within a range of $0.5650 – 7.4300.
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