Above Food to Acquire NorQuin, Largest Vertically Integrated Supplier of North American Quinoa

Acquisition will Grow Above Food's Specialty Ingredient and CPG Businesses by Bringing the Most Advanced Proprietary Genetics Program in the World into its Seed to Fork Platform

REGINA, SK, May 19, 2022 /PRNewswire/ -- Above Food Corp. (Above Food), a first-of-its-kind, vertically integrated, plant-based food company, is pleased to announce it will be acquiring Northern Quinoa Production Corp. (NorQuin), a vertically integrated producer of quinoa. As North America's largest supplier of quinoa, the acquisition will add a scaled portfolio of specialty ingredients capabilities and customers alongside a growing CPG business to the Above Food platform.

NorQuin is the leading quinoa producer in the world, with a state-of-the-art production facility, supplying specialty ingredients and finished products to the world's largest food companies. NorQuin has invested more than two decades of research to develop proprietary, higher yield, higher protein, non-GMO varietals of quinoa. NorQuin partners with growers to produce the highest quality quinoa at scale with complete traceability. Above Food plans to integrate NorQuin's class-leading genetic capabilities and grower programs into its Disruptive Agriculture business, providing significant scale to NorQuin's existing grower infrastructure, while applying the team's expertise in genetics and plant-breeding to a broader base of proteins.

"The team at NorQuin has built a truly remarkable platform," noted Lionel Kambeitz, CEO of Above Food. "Adding them to our scaled, vertically integrated platform will enable significant opportunities for growth and margin expansion across each of our core competencies: Disruptive Agriculture, Specialty Ingredients and High Growth CPG."

True to Above Food's mission to make nutritious, plant-based ingredients easily accessible through its vertically integrated supply chain, this complete protein super ingredient, which is high in protein and fiber, will be a key staple in various parts of Above Food's business model, playing an important role in formulating future products while also bringing together key players in the business.

In addition to the specialty ingredient portfolio, NorQuin will add a robust range of value-added quinoa products to Above Food's CPG division, which are already sold across North America in natural, mass, and club retailers like Harris Teeter, Walmart, and Costco.

For more information, please visit www.abovefood.com and www.quinoa.com, or follow the plant-based conversation on social @above_food.

ABOUT ABOVE FOOD CORP.

Above Food Corp. is a first-of-its-kind, plant-based food company that celebrates delicious products made with real ingredients, real nutrition, real flavor, and real transparency. Founded in Canada by food production ecosystem veterans and visionary co-founders, Lionel Kambeitz, Donato Sferra, Tyler West, and Martin Williams, Above Food's vision is to create a healthier world — one seed, one field, and one bite at a time. With a complete chain of custody of plant proteins, enabled by scaled operations and infrastructure in primary agriculture and processing, Above Food delivers food to businesses and consumers with unparalleled traceability, quantifiable sustainability, and superior nutrient density. Above Food's brands are available online at www.abovefood.com and in natural grocers across Canada and the USA. For more information about Above Food, please visit www.abovefood.com or follow Above Food on Instagram (@above_food), Facebook (Above Food) and LinkedIn (Above Food).

ABOUT ABOVE FOOD BRANDS INC.

A wholly-owned subsidiary of Above Food Corp., Above Food Brands Inc. was established in 2019 to develop and distribute premium whole plant alternatives of meat, dairy, bakery, and baby food, by creating delicious, densely nutritious consumer products and branded ingredients.

ABOUT NORQUIN

NorQuin is a technology-enabled agricultural business headquartered in Saskatoon, Saskatchewan. The company is a vertically integrated supplier of quinoa and quinoa derivative products that can be used in a variety of applications. NorQuin has been developing high-yielding, non-GMO, novel varieties of quinoa for more than 20 years that are optimal for Canada's growing regions. Dedicated to its mission to improve human health through the food we eat, the company is focused on accelerating the movement of plant-based proteins. Please visit quinoa.com for more information.

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SOURCE Above Food

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