Billy Goat Brands (GOAT) investee The Vegetarian Butcher is set to open a new location in White Rock, B.C.
The portfolio company has begun the permitting process and plans to open the grocery store, its third, by Q1 2022.
White Rock and neighbouring South Surrey are known for their rich and diverse history, their vibrant beaches and for being home to unique neighbourhoods such as Crescent Beach and Grandview Heights.
Millennials make up 15.8 per cent of White Rock’s population, which has resulted in an increase in demand for health and wellness facilities and sustainable food and beverage options, according to Statistics Canada.
According to Goldman Sachs, 24 per cent of millennials practice an active and healthy lifestyle and are willing to spend money on compelling brands.
The Vegetarian Butcher plans to open 36 locations nationwide over the next three years.
Billy Goat holds a 12.4-per-cent interest in The Vegetarian Butcher and is committed to providing expansion capital to enhance the company’s consumer experience.
Blair Lowther, Director and CEO of The Vegetarian Butcher, stated,
“Our next location in White Rock is positioned in one of the most exciting and high-growth areas of the province. This diverse Greater Vancouver Area community and its vibrant neighborhoods offer an attractive opportunity for TBV’s retail business. We hold quality above all else and are tailoring our product line for local consumers to provide a one-stop shop for plant-based meat alternatives.”
Tony Harris, Chairman and CEO of Billy Goat Brands, added,
“We are thrilled to continue supporting The Vegetarian Butcher’s growth and vision to be the number one plant-based meat company in Canada.”
Billy Goat Brands is a venture capital platform focused on high-potential companies operating in plant-based protein, functional foods, food technology and fermented foods.
Billy Goat Brands (GOAT) is unchanged trading at $0.18 per share as of 11:32 am EST.