- The company recently announced a strategic private placement executed with agribusiness Nurture Healthy Foods to bring in just over $5 million in capital at $0.75 for M&A and general operations
- Plant-based consumer products brand builder Eat Well Investment Group Inc. is a growing investment company operating in North American markets
- Eat Well’s agreement with Nurture Healthy Foods includes an economic interest in Eat Well’s majority ownership of Amara Organic Foods, a growing manufacturer of plant-based baby foods
- The company’s products are also gaining increased distribution through companies such as Walmart, Whole Foods, Sprouts Farmer’s Market, Loblaws and HEB Grocery Company (H-E-B)
Vertically integrated plant-based foods investment company Eat Well Investment Group (CSE: EWG) (OTC: EWGFF), is securing new capital at $0.75 per Unit for M&A and general working activity, according to a recent announcement that notes not only a new round of private placement funding but also the sale of an interest in its portfolio company PataFoods, Inc.
“This morning we shared with the markets that Nurture Healthy Food LLP has come in for a strategic private placement with us, approximately $5 million,” Eat Well CEO and Director Marc Aneed told Shoran Devi in a Feb. 15 interview with The Power Play (https://nnw.fm/XPpJG).
“The team at Nurture are like-minded to us. They are ESG (Environmental, Social and Governance factor)-driven, they are business builders and they are all about our mission, which is to feed families globally,” Aneed added. “This gives us strategic growth internationally through commercial, retail and distribution opportunities, as well as looking at deeper parts of their agribusiness portfolio and their plant-based solutions that we can bring to the world.”
Eat Well Investment Group has customers in over 35 countries already, but the agreement with Nurture Healthy Food will help the company’s customer and distribution relationships “exponentially move into the future,” Aneed said.
The company generated nearly $60 million (Canadian) in revenue last year during a breakout year when it acquired plant-based ingredients processor Belle Pulses and plant-based food creator Sapientia and added an OTC listing in the United States to its Canadian Stock Exchange profile. Eat Well expects to report top-line earnings between $90 million and $110 million by the end of this year.
“We couldn’t be more excited to find ways to blueprint our distribution growth throughout South America, Latin America with their strength that they (Nurture Healthy Food) have today in retail,” Aneed said.
Eat Well acquired 51 percent ownership of Pata Foods (dba baby food brand Amara Organic Foods) last year with an option to obtain up to 80 percent if it wishes. Amara reported 533 percent revenue growth during 2021 and was named Amazon’s top new release (https://nnw.fm/LA7Tf).
The economic interest in Amara that Eat Well sold to Nurture entitles Nurture to receive 8 percent of the net proceeds or other property received by Eat Well if a liquidation event occurs in regard to Amara, such as a merger or the sale of any portion of the company’s overall equity interest in Amara, as well as 8 percent of any dividend declared and paid by Amara to Eat Well (https://nnw.fm/LpfKB).
Eat Well’s growth strategy includes recent announcements that Amara will be distributed through over 400 Walmart stores in Canada and online through Walmart’s e-commerce platform, as well as through Loblaws’ Canadian stores nationwide and through 200 of food retailer HEB Grocery Company (H-E-B) stores in the United States.
For more information, visit the company’s website at www.EatWellGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to EWGFF are available in the company’s newsroom at https://nnw.fm/EWGFF
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork.
