Capturing growth at approximately 252% vs 1 year-ago with an expected 32% gross margin, TRUBAR preliminarily delivered approximately $19.2 million in revenue in the first half of 2023, while ensuring positive adjusted EBITDA performance
VANCOUVER, BC, July 13, 2023 /CNW/ - Simply Better Brands Corp. ("SBBC" or the "Company") (TSXV: SBBC) (OTCQB: PKANF) is pleased to announce it has entered into a strategic agreement with Acosta Sales and Marketing ("Acosta"), a full-service sales and marketing agency made up of more than 20,000 associates that provide support scaling for some of the most recognized CPG brands. Building off significant momentum, TRUBAR will leverage Acosta's extensive sales and distribution network, deep marketing insights, and expertise in retail execution to rapidly expand its reach across the U.S marketplace. Acosta's well-established relationships with retailers and their comprehensive knowledge of consumer preferences will provide the brand with an opportunity to scale across large-format and natural grocery trade channels. This partnership supports TRUBAR'S mission to democratize wellness and introduce their dessert-inspired indulgent-Nutrition TM bars to a much larger consumer base. TRUBAR adheres to the strict nutritional guardrails of dairy-free, soy-free, no sugar alcohol, vegan, non-GMO and gluten-free expected by loyal consumers of the brand.
"The indulgent taste and clean ingredient transparency are a differentiator in a growing category where the consumer is demanding more. This demand has TRUBAR growing at approximately 252% vs. YAG with first half preliminary revenue of approximately $19.2 million vs. $4.6 million for the similar period in 2022. Our new relationship with Acosta now expands our capability and reach to activate retail distribution at a faster rate. The additional resources will enable us to keep up with accelerated retailer interest through consumer-centric innovation," says Kathy Casey, Simply Better Brands CEO. Echoing strong consumer interest, Financialbuzz recently recognized TRUBAR as one of the Top 18 items Costco members are raving about this month.
"We are thrilled to partner with Simply Better Brands and TRUBAR, as the brand has built momentum, disrupting the fast-changing protein bar market," said Chris Mathewson, Senior Vice President of Acosta. "As consumers increasingly prioritize health and wellness, TRUBAR offers a perfect solution for those seeking convenient and flavor-forward nutritious on-the-go snack."
About Acosta
Acosta's suite of progressive, commerce-centric solutions enables today's biggest brands, retailers, and foodservice providers to win in the modern marketplace. Since 1927, Acosta has developed trusted relationships and unmatched scale. In a complex and fast-evolving omnichannel world, Acosta's network of companies allows us to connect with shoppers wherever they are. Through data-backed growth strategies and exceptional customer experiences, we are connecting tomorrow's commerce today.
About Simply Better Brands Corp.
Simply Better Brands Corp. leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The Company's mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based, natural, and clean ingredient space. The Company continues to focus on expansion into high-growth consumer product categories including plant-based food, clean ingredient skincare and plant-based wellness.. For more information on Simply Better Brands Corp., please visit: https://www.simplybetterbrands.com/investor-relations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" and "forward looking statements" as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, among others, that the Company's financial condition and development plans do not change as a result of unforeseen events, the regulatory climate in which the Company operates, and the Company's ability to execute on its business plans. Specifically, this news release contains forward-looking statements relating to, but not limited to: the year over year growth and expected gross margin of TRUBAR; and the effect and success of the strategic agreement with Acosta and the effects that the agreement will have on the Company and on the growth of TRUBAR, including but not limited to statements that i) TRUBAR will be able to leverage Acosta's sales and distribution networks to reach across the U.S. marketplace; ii) Acosta will allow TRUBAR to scale across large-format and natural grocery trade channels; and iii) Acosta will provide the resources necessary to keep up with accelerated retailer interest.
Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, ability to obtain necessary regulatory approvals for proposed transactions, as well as the other risks and uncertainties applicable to the plant-based food, clean ingredient skincare and plant-based wellness or broader wellness industries and to the Company, and as set forth in the Company's annual information form available under the Company's profile at www.sedar.com.
The above summary of assumptions and risks related to forward-looking statements in this news release has been provided in order to provide shareholders and potential investors with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
SOURCE Simply Better Brands Corp
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