Expansion into Canada's second largest province marks truLOCAL's presence in five key markets
TORONTO , Feb. 17, 2021 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or "the Company"), a leading acquirer and operator of direct-to-consumer ("D2C") e-commerce brands, today announces that its portfolio company, truLOCAL, the Canadian leader in premium meat subscriptions, has expanded into Quebec, Canada's second largest province by population, and truLOCAL's fifth market overall.
"We are thrilled to be launching a new chapter for truLOCAL in Quebec . We know how much the province values supporting local businesses, so providing a convenient way for consumers to shop for meats exclusively from Quebecois producers and suppliers is something we're particularly excited about," said Marc Lafleur , CEO of truLOCAL.
The expansion into Quebec offers a sizable growth opportunity for truLOCAL and its parent company, EMERGE. The Company recently announced that truLOCAL recorded 117% revenue growth in January 2021 , its first month under EMERGE ownership, compared to January 2020 .
"truLOCAL continues to exhibit terrific organic growth trends, and we believe today's launch in Quebec will be a significant milestone in the team's impressive progress. truLOCAL is an award-winning brand and team, and we plan to support their ambitious expansion roadmap leveraging our suite of shared services, data insights, and cross-selling opportunities with our extensive member network," commented Ghassan Halazon , Founder and CEO of EMERGE.
truLOCAL is headquartered in Kitchener, Ontario with facilities in Ontario , British Columbia , Alberta , Illinois (U.S.), and now, Quebec . truLOCAL has partnered with local farmers, producers and suppliers in Quebec , offering a subscription model to its customers for the delivery of locally sourced, premium meats directly to customers' doors each month.
"Our team has specifically curated an inaugural selection of over 30 different cuts from Quebec's finest local producers to showcase the province's diverse offerings on the trulocal.ca marketplace," added Lafleur.
Groceries is EMERGE's largest vertical by revenue, and the Company expects to make additional acquisitions in the food technology space, among other areas.
To discuss this announcement and more, EMERGE will present at the Stifel GMP Online Grocery Virtual Conference this morning ( February 17, 2021 ) at 10:30 am EST . This conference will bring together leading e-commerce businesses innovating in the digital grocery space. Mr. Halazon's live presentation will be available on February 17, 2021 at 10:30 am EST by clicking on the following link- https://wsw.com/webcast/stifel38/ecom.v/2342864
About EMERGE:
EMERGE is a disciplined, diversified, rapidly growing acquirer and operator of niche e-commerce brands across North America . Our network of e-commerce sites provides our members with access to groceries, golf, nearby escapes, and family offers. Our portfolio houses some of Canada's most coveted online destinations including trulocal.ca, UnderPar.com, WagJag.com, JustGolfStuff.ca, and BeRightBack.ca. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.
To learn more, visit www.emerge-commerce.com .
About truLOCAL:
Founded in February 2016 in Kitchener, Ontario , truLOCAL is a tech-enabled startup and online marketplace that connects health-conscious consumers to local suppliers in Canada and the U.S., giving them a more convenient way to access clean, locally sourced meat products. truLOCAL has created its own online marketplace ( www.trulocal.ca ) for local meat suppliers to sell their products online, eliminating the challenges of shopping for quality meats by allowing anyone within their province to see offerings from local suppliers online. truLOCAL was recently listed as Canada's 14th Top Growing Company by the Globe and Mail. truLOCAL has given suppliers and producers access to interested consumers while providing a key distribution channel for suppliers looking to pivot into e-commerce to address the increase in demand for online shopping.
To learn more, visit www.trulocal.ca .
Cautionary notice
Investors are cautioned that any information released or received with respect to the transactions described herein may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding forward-looking statements
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Company's filing statement which are incorporated herein by reference and are available through SEDAR at www.sedar.com . The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE EMERGE Commerce Ltd.
View original content: http://www.newswire.ca/en/releases/archive/February2021/17/c7257.html