Plant&Co Brands (CSE: VEGN) this morning provided an update to the success seen by its recent acquisition of YamChops, the firms vegan-butcher with over 20 proprietary plant-based meats. The company has seen significant growth over the course of 2020 when compared to the sales volume experienced in 2019.
The company this morning reported explosive growth of its online sales channels of 689% when comparing the second half of 2020 to that of 2019. The significant increase is a result of local marketing efforts, as well as the increasing popularity of plant-based foods.
Going forward, the company intends to build on this success by leveraging the success seen in both its business to business and business to consumer channels. To do so, the firm will use its existing distribution networks and relationships for large and bulk ordering of plant-based products across Canada to rapidly grow the distribution of the YamChops products. Such distributors that the company will lean on include Grande Cheese, United National Foods, Whole Foods, Save On Foods, and more.
“While YamChops had a great year in 2020 across its wide selection of plant-based foods, we wanted to highlight the online sales from our website as research shows that both plant-based food and online shopping are two of the fastest growing segments in the food industry.”
Shawn Moniz, CEO of Plant&Co
Plant&Co last traded at $0.62 on the CSE.
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