VANCOUVER, BC, May 11, 2022 /CNW/ - Modern Plant Based Foods Inc., (CSE: MEAT) ("Modern Plant Based Foods") or (the "Company"), a leading plant-based food company, is pleased to announce its "Snacks from the Sun" popped chips brand has entered into a distribution contract with United Natural Foods (UNFI), the largest publicly traded wholesale distributor of health and specialty food in North America.
UNFI is a distributor of over 250,000 natural, organic and conventional products to more than 30,000 retailers including natural product superstores, independent retailers, conventional supermarket chains, ecommerce retailers and food service industry customers across the U.S. and Canada through its 60 distribution centers. Modern's recently announced a focus on getting its Snack from the Suns' product line into additional retailers and distributors and this distribution agreement will play a key role in its retail expansion efforts and driving its growth in the U.S. plant-based foods industry. In addition, UNFI has a primary wholesale grocery distribution relationship with Whole Foods Market and Whole Foods Market's main supplier, with their traffic making up over a third of its revenue in 2018.
Modern Plant Based Foods' Snacks from the Sun "Popped Potato Crisps" are light and airy crisps made from all-natural potatoes, whole grains, and seasonings, then popped. The chips are vegan and free of gluten, cholesterol, and saturated fat. These vegan snacks come in six different flavours: sour cream and chive, sea salt, cracked pepper, tangy barbecue, salt and vinegar, and nacho cheese.
"UNFI is the largest food distributor in North America, and this continues Modern Plant Based Foods ongoing mission to get our product into the largest and most expansive food distributors in North America. More and more households are recognizing the benefits that come from incorporating tasty, healthy and low-processed plant-based options into their diets, and it is critical to Modern Plant Based Foods's success that we partner with established and respected wholesale distributors to penetrate additional markets. Over the past years our brand has become more and more recognizable making it easier for us to get into retailers and distributors alike and over the coming period we expect to be on a lot more shelves," states CEO, Avtar Dhaliwal.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation that are not historical facts.
This news release includes certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the Company and the Company's business and prospects; the Company's objectives, goals or future plans; the Company's sales growth, planned expansion, awareness of the Company's brands, future sales and revenue growth, the availability of Modern Meat Products through GFS, and the business, operations, management and capitalization of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; local and global market and economic uncertainties arising in respect of the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other judicial, regulatory, political and competitive developments; the ability to effectively expand manufacturing and production capacity; the ability to obtain retail partners to distribute Company products, the success of market initiatives and the ability to grow brand awareness; the ability to attract, maintain and expand relationships with key strategic restaurant and food service partners; our ability to predict consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our cash to meet liquidity needs; those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Accordingly, the forward-looking statements discussed in this release may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Modern Plant Based Foods Inc.
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