Eat Beyond Adds Oat Dairy Innovator, Beyond Moo Foods to its Portfolio
Beyond Moo Foods operates in the plant-based, oat dairy alternative category with expertise in yogurt, kefir, and spreads
VANCOUVER, BC, Oct. 25, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that it has completed an investment in Beyond Moo Foods ("Beyond Moo").
Beyond Moo offers a full line of oat-based dairy alternatives including yogurt, kefir, spreads (cream cheese), and butter. All of the products are free of dairy, gluten, nuts, soy, preservatives, and artificial flavours.
"We are very pleased to welcome Beyond Moo to our growing Eat Beyond family," said Michael Aucoin, CEO of Eat Beyond. "Dairy alternatives are growing rapidly in popularity, and there is particular demand for oat-based products. The quality and taste of Beyond Moo's products are superior and the range of products that the company specializes in is impressive and diverse, and very much in line with what consumers are seeking. Founder Yulia Weber is an exceptional talent with a great personal story, and her team of innovators will help Eat Beyond continue on our path to reimagine the future of food."
A Meticulous Research report from March 2021 indicated the "dairy alternative market" will reach nearly $45 billion by 2027 with a CAGR eclipsing 11.2%. Food Navigator reported in September 2020 that oat milk sales jumped more than 300% over the previous year to reach the second spot in non-dairy alternatives.
"The Beyond Moo team looks forward to working closely with Eat Beyond to continue our business growth trajectory in this very exciting and rapidly growing space," said Yulia Weber, founder of Beyond Moo. "The Eat Beyond advisory team will provide important strategic support and guidance as we enter this next phase of business growth. This will be key in guiding our expansion into new markets and distribution channels."
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About Eat Beyond Global Holdings
Eat Beyond Global Holdings Inc. ("Eat Beyond") (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/
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The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors that could materially affect such forward-looking information are described in the risk factors in the Prospectus, and the schedules attached thereto, that are available on the Company's profile on SEDAR at www.sedar.com.
Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
SOURCE Eat Beyond Global Holdings Inc.
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