VANCOUVER, BC, May 3, 2022 /CNW/ – Modern Plant Based Foods Inc., (ESC: MEAT) (“Modern Plant Based Foods”) or (the “Company”), an award-winning plant-based food company is pleased to announce that kitskitchen Health Foods Inc., (kitskitchen), a modern plant-based food holding company, has secured a new production facility. The new kitskitchen facility has an increased production capacity of 20,000 kg per day from the previous capacity of 1,000 kg per day. This significant increase will respond to the considerable interest generated by consumer demand over the past year.
The new facility is equipped with larger, high-end machinery allowing production to increase in volume efficiently and quickly, resulting in lower costs and higher profit margin. Given the demand from distributors to facilitate the supply of large retailers, kitskitchen will be able to continue its Canadian expansion while contributing positively to the bottom line.
“This milestone solidifies our transition from a niche product supplier to a national food company. Over the past few months, we have secured significant partnerships and warehouse space with some of the industry’s leading grocers and distributors. Over the coming period, we expect significant sales growth and an increase in our profit margin as we continue to ramp up our production,” says Joni Bergco-founder and CEO of kitskitchen.
The new facility has achieved all the necessary certifications required for this product line, including Global Standard for Food Safety (BRCGS), Organic and APICS (Association for Supply Chain Management). BRCGS has been the benchmark for over 20 years. Adopted by more than 20,000 sites in 130 countries, the standard is accepted by 70% of the top 10 global retailers, 60% of the top 10 quick service restaurants and 50% of the top 25 manufacturers. It was the first standard to be referenced by the GFSI, as well as introducing food safety culture requirements, defining food fraud and reducing audit burden through additional modules. kitskitchen has already engaged major national retailers, who view safety certifications and standards as a requirement for doing business.
“Upon acquiring kitskitchen, we identified it as a brand and product for national distribution and eventually retail. The products continue to impress consumers and retailers as sales numbers continue. to increase and we have now taken it upon ourselves to increase our capacity. Over the next period, we expect significant growth for the kitskitchen brand and product line,” says CEO of Modern Plant Based Foods, Avtar Dhaliwal.
The facility has Canadian Food Inspection Agency (CFIA) employees on site to ensure top quality compliance standards. The large-scale installation along with all the certifications mentioned above has allowed kitskitchen to work with larger retail grocery chains such as Loblaws Inc., a subsidiary of Loblaw Companies Limited., a Canadian supermarket chain with stores located across Canada be from Canada largest food retailer.
About Modern Plant-Based Foods
Modern Plant-Based Foods is a Canadian food company based in Vancouver, British Columbia which offers a portfolio of plant-based products, including meat and dairy-free alternatives, soups and vegan snacks. Our products are available at select restaurants and retailers across Canada including our own modern wellness bars located in Vancouver. We take a holistic approach to plant-based living and understand the importance of providing nutritious and sustainable alternatives to consumers without sacrificing taste. We want people to feel good about the food they eat, so we deliberately choose ingredients that are free of soy, gluten, nuts and GMOs.
Our mission is to change the way food is produced and consumed to benefit people, animals and the environment by using natural, plant-based ingredients.
Caution Regarding Forward-Looking Information
This press release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities laws that are not historical facts.
This press release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities laws that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding: the company and the company’s business and prospects; the Company’s future objectives, goals or plans; the company’s sales growth, planned expansion, awareness of the company’s brands, future sales and revenue growth, availability of modern meat products through GFS, as well as business, operations, management and the capitalization of the company. Forward-looking statements are necessarily based on a number of estimates and assumptions which, while believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results to differ. and future events will differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to: general business, economic and social uncertainties; local and global economic and business uncertainties related to the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other legal, regulatory, political and competitive developments; the ability to effectively increase manufacturing and production capacity; the ability to obtain business partners to distribute the Company’s products, the success of market initiatives and the ability to increase brand awareness; the ability to attract, maintain and expand relationships with key strategic restaurant and foodservice partners; our ability to predict consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our liquidity to meet liquidity needs; such additional risks set forth in the Company’s public filings on SEDAR at www.sedar.com; and other matters discussed in this press release. Accordingly, the forward-looking statements discussed in this release may not occur and may differ materially due to these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in the preparation of forward-looking statements are reasonable, undue reliance should not be placed on such statements, which speak only as of the date of this press release, and no no assurance can be given that such statements of events will occur within the time periods disclosed or at all. Except as required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE Modern Plant Based Foods Inc.
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