Planet Based Foods $PBF/$PBF.C is continuing to deliver on the expectations of distribution growth after the appointment of a new VP of business development and operations.
Carrying on with the apparent strategy of building a consumer base through the distribution of its hemp-based products to restaurants, $PBF has begun supplying its products to Stout Burgers & Beers, a restaurant chain in the LA area. After also entering into a collaboration with Copper Mountain ski resort, it appears the company is taking the logical approach of targeting more health-minded demographics.
Since its debut on the Stout Burgers & Beers menu, the Planet Based Burger has quickly become the most sought-after plant-based option as the top-selling veggie burger. Over 800 Planet Based Burgers are sold per month across current locations, with this number expected to grow to 1,200 once made available at the two upcoming restaurants.
These numbers may seem relatively small, but it definitely shows that the popularity of $PBF’s products has the ability to grow. I expect it won’t be long until we see $PBF signing distribution agreements with major grocery chains.
$PBF is currently trading at $.33 and is valued at an MCAP of $16.9 million.
https://ceo.ca/@newswire/planet-based-foods-announces-collaboration-with-stout