Vancouver, British Columbia, October 22, 2020 – The Very Good Food Company Inc. (CSE: VERY) (OTCQB: VRYYF) (FSE : OSI) (“VGFC” or the “Company”) is pleased to announce a new wholesale distribution partner in Canada and an overall increase in the number of existing retail points of distribution in Western Canada.
New Distribution Partner
The Very Good Food Company recently entered into a new distribution agreement with UNFI Canada to distribute The Very Good Butchers lineup of products across Canada, first focusing on the East coast. This agreement represents a significant milestone for the Company. UNFI Canada is a subsidiary of United Natural Foods, Inc. (NYSE: UNFI), which is the largest publicly traded wholesale distributor in North America delivering healthier food options to people throughout Canada and the United States. UNFl has expected annual sales in excess of $21 billion USO, 40,000 retail partners and 10,000 suppliers.
CEO Mitchell Scott said: “The distribution agreement with UNFI is a particularly exciting achievement for us, as it opens up the potential for significant expansion across North America utilizing UNFl’s vast distribution network. We are thrilled to have the support from this leading wholesale distributor as we continue to significantly scale our production.”
Under this new agreement, the Company will be sending its first shipment of product to Eastern Canada within the coming weeks, officially expanding its retail distribution across the entire country.
Expanded Points of Distribution
Through its ongoing effort to bring The Very Good Butchers brand to more consumers, the Company is also pleased to announce a significant increase in the number of points of distribution within its existing wholesale partnerships to 275 stores; in addition to the new distribution agreement with UNFI. This represents an increase of 34% above the previously reported figure in July 2020.
The increase in distribution is limited to the production volume out of the current operational Victoria facility; with additional volume coming online in 2021 from the two recently announced facilities in Vancouver, Canada and Patterson, California. The willingness of existing wholesale partners to expand the reach of The Very Good Butcher’s line up of products across their networks represents the significant increased demand the Company is experiencing from consumers.
CEO Mitchell Scott said: “With two production facilities coming online in 2021, the recent partnership with a third-party logistics partner and now our distribution agreement with UNFI, we continue to build the infrastructure necessary to scale our operations to the next level. lam incredibly proud of what our team has accomplished to date and look forward to an exciting end to 2020.”
About The Very Good Food Company
The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a variety of plant-based meat and other food alternatives. Our mission is to employ plant-based food technology to create products that are delicious while maintaining a wholesome nutritional profile. To date we have developed a core product line under The Very Good Butchers brand.
