Very Good Burgers

© The Very Good Food Company

Company News

Sad Ending for The Very Good Food Company After Going into Receivership

Canada’s The Very Good Food Company (NASDAQ: VGFC) (TSXV: VERY.V), may be forced to close its operations this month after battling a financial crisis and succumbing to receivership.  In September 2022, the Very Good Food Company announced a strategic review to evaluate potential alternatives for maximizing shareholder value, including acquisition or merger with an industry partner. But after months of attempting to secure new financing, the company was placed into receivership. On January 17th, BDO Canada, an accounting and consulting firm, was appointed by the Vancouver-based plant-based business to “solicit bids for the assets or a restructuring of the company.” The day before, the newly appointed CEO, Parimal Rana, had resigned, leaving the company’s Board of Directors empty. Financial uncertainty Very Good had undergone a series …

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PLNT Violife Juicy Cheeseburger

©PLNT Burger

Gastronomy & Food Service

Violife Cheese Partners With Copper Branch and PLNT Burger for Exclusive New Burgers

Violife, a leading brand of plant-based cheeses, announces it is expanding its foodservice offerings through new partnerships with Canada’s Copper Branch and American vegan burger chain PLNT Burger.  Copper Branch, one of the world’s largest plant-based restaurant chains, is launching the new Benevolent Burger (also called “The Bennie”) on Oct. 3rd. The Bennie will feature a specialty AAA bean patty from British-Columbian brand The Very Good Butchers paired with melted non-dairy cheddar from Violife. “This burger hits all the marks for great flavour and texture, and maintains a focus on clean ingredients, which isn’t always the case in the alternative meat and dairy-free categories, “ said Trish Patterson, Brand Vice President of Copper Branch. “Violife was the perfect partner to join what started as a …

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Very Good Burgers

© The Very Good Food Company

Company News

The Very Good Food Company Considers Merger or Acquisition Amid Ongoing Troubles

Canada’s The Very Good Food Company (NASDAQ: VGFC) (TSXV: VERY.V) recently announced a strategic review to evaluate potential alternatives for maximizing shareholder value, including acquisition or merger with an industry partner.  The news follows months of financial uncertainty for the company, which saw the departures of CEO Mitchell Scott and co-founder James Davison in April. That shakeup led to a host of significant changes, including the temporary installation of Nestle exec Matt Hall as Interim CEO, who helped to stabilize the financially struggling company. In June, Very Good announced it had raised $6.5M in a private placement agreement, and soon after Vice President of Operations Parimal Rana was appointed to succeed Hall as the new CEO. In August, however, the company warned it still needed to …

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Very Good Burgers

© The Very Good Food Company

Company News

The Very Good Food Co. Appoints Food Industry Veteran Parimal Rana as New CEO

Canada’s The Very Good Food Co. (NASDAQ: VGFC) announces Matt Hall is stepping down as Interim Co-Chief Executive Officer and director, as part of the company’s succession plan. Hall, who will remain an advisor, is being replaced by Parimal Rana, an experienced food industry professional who served as Very Good’s Vice President of Operations.  According to Hall, the succession comes at the right time, following two months of dedicated work to stabilize the financially failing company.  “We’ve made notable headway in our effort to stabilize the business and it’s the right time for Parimal to assume the role of CEO,” said Hall. “Considering Parimal’s deep understanding of the plant-based food industry, his impressive operational background, and most importantly his proven leadership capability within VERY GOOD, …

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The Very Good Butchers Ribs

©The Very Good Butchers

Company News

The Very Good Food Company Expands Into 180 Meijer Stores

The Very Good Food Company announces large-scale retail expansion in the USA following a distribution deal with superstore chain Meijer Inc. The brand’s Original Ribz and Very Good Steak will initially be offered at 180 locations. Meijer operates 262 supercenters and grocery stores throughout Michigan, Illinois, Indiana, Ohio, and Wisconsin. The new agreement advances VERY GOOD’s objective to offer its products in every major city across the United States. The company recently embarked on a new business strategy and continues to go from strength to strength, launching the new vegan ribs and securing distribution with Loblaws in Canada, marking the availability of its products in 2,000 stores throughout North America. Mathew Hall, Interim Co-CEO with VERY GOOD, stated: “This listing within the U.S. retail environment …

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Very Good Butcher

©Brodie Frehlich

Company News

The Very Good Food Co to Raise $6.5M in Private Placement

Canada’s Very Good Food Co., operating as The Very Good Butchers, announces today its plans to raise $6.5 million in a private placement with an institutional investor. The company states it has entered a securities purchase agreement to offer 32.5 million shares and associated warrants for 20 cents each. The news closely follows a slew of recent developments for the publicly listed company since its company re-shuffle and new strategy this April, after which former Nestle executive Matthew Hall was hired as Interim Chief Executive Officer. TVGFC recently entered into a distribution agreement with Canadian retailer Loblaw, whereby its portfolio can now be found in 2,000 stores throughout North America. The news saw Very Good’s stock surge by 150% last week. “We’re incredibly excited to …

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Very Good Butchers BBQ Vegan Ribs

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Company News

The Very Good Food Company Grows Retail Distribution with Loblaws and Launches New BBQ Ribs

The Very Good Food Company (NASDAQ:VGFC) announces it has entered a distribution agreement with Canadian retailer Loblaw Companies. Through the expansion, the brand’s plant-based foods can now be found in 2,000 stores throughout North America, with an additional expansion planned for Summer 2022.  150% stock increase Select locations of Loblaws and Real Canadian Superstores will now carry  Very Good’s Select line of soy-and gluten-free Cajun Steak, Bratwurst Sausage, and Meatballs, as well as the Very Good Ribs and the Very Good Steak Two-Pack. The news sent Very Good’s stock surging by 150%, suggesting the brand is gaining traction as it steadily builds toward profitability.  Very Good is also launching three new flavors of its plant-based BBQ ribs – Smoky BBQ, Maple Bourbon BBQ, and Southern …

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Very Good Burgers

© The Very Good Food Company

Company News

Amid More Changes, Very Good Food Company Selects Former Nestle Exec Matt Hall as New Interim CEO

The Very Good Food Company, a plant-based food technology brand, announces it is appointing former Nestle executive Matthew Hall as Interim Chief Executive Officer. In addition, Hall will join the company’s board of directors at the commencement of his employment on May 2, 2022. It was also revealed that Ana Silva, Very Good’s President, Interim CFO and Corporate Secretary, resigned from the company on April 22.  A series of shake-ups The news is the latest in a series of abrupt leadership changes at Very Good Food, the parent company of Canada’s The Very Good Butchers. Earlier this month, co-founder Mitchell Scott was removed from his position as CEO at the financially troubled brand, whose stock value has steeply plummeted over the past year.  Very Good …

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Very Good Butchers Burger

© The Very Good Food Company

Company News

After Terminating CEO, The Very Good Food Company Embarks on New Strategy

The Very Good Food Company, the parent company of Canadian plant-based meat producer The Very Good Butchers, (NASDAQ: VGFC)  is undertaking a new profit strategy following the departures of CEO Mitchell Scott and co-founder James Davison.  In a statement, the company announced Scott was terminated while Davison resigned as Chief Research and Development Officer. The shakeup comes as Very Good faces considerable difficulty in turning a profit – the company has been unable to achieve profitability since its inception in 2016.  On April 1 the company showed a dramatic loss of CAD54.6M (US$43.6M) in fiscal year 2021. The price of its Canadian shares has also dropped 80% in the past 12 months.  A new way forward In an effort to correct course, Very Good now …

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Vegano Foods Delivery

Plant-based products available through Vegano Foods online marketplace

Food & Beverage

Meet Vegano – Canada’s Rising Meal Box and E-Commerce Phenomenon

When COVID-19 and lockdowns created a surge of interest in healthier, plant-based eating, one Canadian startup was perfectly positioned to seize the moment.  Vancouver’s Vegano Foods has quickly grown into a plant-based powerhouse by offering healthy meal boxes coupled with a fast-growing online marketplace. The brand raised $4.2 million in an oversubscribed Series A last year, and its soaring success recently led to a debut on the Canadian Securities Exchange (Symbol: VAGN.) A rapid rise First launched in March 2020, Vegano is Canada’s first 100% plant-based meal delivery service. Led by founder and CEO Conor Power, Vegano achieved $271,000 in sales in its first eight days after launch, according to the Financial Post. Within two months, the brand moved to a 5,000-square foot facility in …

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Very Good Butchers products

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Food & Beverage

The Very Good Butchers Announces Grand Opening of Butcher Shop in Victoria, Canada

 The Very Good Butchers, the leading brand of The Very Good Food Company, announces the opening of a new retail location in downtown Victoria, which will offer brunch, lunch, dinner, bar, and bakery menus. The new location is set to open on 6th October. In addition to its famous vegan meats, the range of specialty dishes created by Co-founder James Davison will include vegan fish and chips, toad in a hole, several charcuterie board styles, delicious bakery options, and a bar menu with beer and wine. The company’s full product portfolio will also be available from the deli counter, including its newest gluten-free Butcher’s Select line, such as MMM…Meatballs, Flippin’ Good Burger, Cajun Sausage, Bratwurst Sausage and Breakfast Sausage. “We are thrilled to announce the …

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Mitchell Scott and James Davison TVGB

Mitchell Scott and James Davison © The Very Good Butchers

Company News

The Very Good Food Company: a Plant-Based Success Story

Canada’s Very Good Food Company recently announced that it is significantly expanding its production capacity at its facility in Rupert, Vancouver, and is close to starting production at its facility in California. The news marks the latest in a long line of successes for the publicly listed company, which has grown at an astonishing rate since its launch just a few years ago. Here we take a look at the story so far.

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The Very Good Butchers

©The Very Good Butchers

Products & Launches

The Very Good Butchers Announce Gluten-Free ‘Butcher’s Select’ Range of Plant Meats

 The Very Good Food Company Inc. recently announced the upcoming launch of a gluten-free range called the Butcher’s Select line,  extending its reach to the estimated 30% of North Americans who avoid gluten, as well as over 50% of US households who are now purchasing plant-based foods. Additionally, as a reflection of its commitment to sustainability, The Very Good Butchers reports that it will use 90% renewable packaging for the new Butcher’s Select line. “At The Very Good Food Company, we’re on a mission to prove that making very good food choices doesn’t mean sacrificing flavor,” said Mitchell Scott, co-founder and CEO of The Very Good Food Company. “Our new Butcher’s Select line is made with real, minimally processed ingredients, and is a ‘cut above’ …

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Mitchell Scott and James Davison TVGB

Mitchell Scott and James Davison © The Very Good Butchers

Company News

Canada’s The Very Good Food Company Continues Plans For Global Domination With UK Launch

Canada’s The Very Good Food Company has announced a new distribution partnership to support its global expansion plans. Starting with the UK, an e-commerce platform will be launched in August 2021 for its core brands; The Very Good Butchers and The Very Good Cheese Co.  The publicly listed company has signed a new distribution deal with Peter Green Chilled, a leading 3PL logistics provider in the UK and Europe. Driven by its mission to meet demand beyond Canada and the US and expand globally, The Very Good Food Company has its eyes set first on the UK and then Europe to follow.  The company enjoyed a highly successful 2020, expanding from Canada into the US, including an $8.5 million oversubscribed financing round after becoming the …

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Cultured Nut The Very Good Cheese Co

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Food & Beverage

Canada: The Very Good Butchers Announce The Very Good Cheese Company Portfolio

Publicly listed Canadian plant-based meat producer The Very Good Food Company, which operates hugely popular plant-based butcher shop The Very Good Butchers, recently acquired fellow Canadian brand The Cultured Nut, announcing this March its intentions to relaunch as The Very Good Cheese Co. Today the company unveiled its new product line of vegan cheeses under this new brand.

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Butcher Shop Burger Lineup TVGB

©The Very Good Butchers

Company News

The Very Good Food Company Announces Strategic Acquisition of Lloyd-James Marketing Group

Canada’s The Very Good Food Company Inc operating as The Very Good Butchers, announces the strategic acquisition of the Lloyd-James Marketing Group Inc., a boutique wholesale and food service broker specializing in plant-based retail placements. The newly formed wholesale team will enable the company to scale its retail network from 275 locations to a target of over 2,000 by end of 2021. 

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Ana Silva Very Good Butchers

Ana Silva ©The Very Good Butchers

Interviews

Ana Silva, President of The Very Good Butchers: “VGFC’s Vision and Purpose Inspire Me, and Their Tremendous Potential Excites Me”

At the end of 2020, it was announced that industry leader Ana Silva had departed Daiya, where she served as Chief Financial Officer for five years, to join fast-growing Canadian plant meat stars The Very Good Butchers in her new role as President which she stepped into from this January, to take this brand to the next level and, in their words, “unlock our collective potential”.

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Market & Trends

8 Reasons Why Plant-Based Investment is Thriving in Canada

Over recent months, there has been a spike in plant-based fundraising taking place in the Canadian market. Around 70 percent of young Canadians believe that plantbased meat is here to stay, 77% of Canadian consumers understand the harmful environmental impact of eating red meat, and 74% of Canadians see meat reduction as essential to reduce their carbon footprint.

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