Canadian confectionery brand Yumy Bear – the low-sugar, vegan gummy specialist – will begin trading on the Canadian Securities Exchange (CSE) in July under the symbol “YUMY”. The female-led startup anticipates a $50 million enterprise value, while also revealing plans for US expansion in 2022.
“Unique gummy candy that is delicious and optimal for health-conscious people that also care about animal welfare”
Based in Vancouver, Yumy Bear was launched by fitness coach and athlete Erica Williams. After identifying a market gap for healthier and more affordable candy alternatives, Yummy Bear was born, using a proprietary formulation process that allows juicier and softer texture using plant-based ingredients.
The company has already raised $2.5 million in an oversubscribed round and hopes the IPO will attract new investors, with sales expected to reach $1 million in 2020. With proceeds from every pack sold supporting local community initiatives, charities, and animal rescue centers, the brand is positioning itself as a market leader for conscious consumers, particularly as the candies contain only three grams of sugar per serving.
Non-GMO verified, Yumy Bear offers peach and strawberry-kiwi flavors, and claims that each bag is approximately $1 to $1.5 cheaper than its closest competitors. Vegan confectionery continues to grow a significant share of the market, with Hancocks – the leading confectionery wholesaler in the UK – recently adding over 300 plant-based options to its stocks due to a rise in demand.
“Using my kitchen as a starting point, I got to work experimenting with high-quality ingredients to create a unique gummy candy that is delicious and optimal for health-conscious people that also care about animal welfare. After over a year of rigorous testing, Yumy Bear was created and in the hands of happy friends, family, clients and loyal customers,” explains Erica Williams.