- Else Nutrition (TSX:BABY) appears to have won a placement in Metro (TSX:MRU) for its ready-to-drink kids’ nutritional shakes
- The product would be the first of its kind for the grocer and is expected to hit shelves at more than 100 stores in November
- Else Nutrition is a global food and nutrition company offering plant-based products for infants, toddlers, children and adults
- Else Nutrition stock (TSX:BABY) is down by 70 per cent over the past five years
Else Nutrition (TSX:BABY) appears to have won a placement in Metro (TSX:MRU) for its ready-to-drink kids’ nutritional shakes.
Else stated in a news release Tuesday that the children’s nutritional shakes were going to hit the shelves in November at more than 100 stores of “one of Canada’s leading grocery chain stores in Ontario.” The release states that this move will be in addition to all other Else Nutrition products already listed with the chain. Other Else products are listed on Metro’s e-commerce website.
Although Metro was not mentioned in Tuesday’s announcement, the placement is likely at Metro stores because Else announced in September that it would begin rolling out its plant-based nutrition products for babies, toddlers and kids through a partnership with Metro Ontario Inc. at Metro locations in October. A photo of a Metro grocery store also accompanied Tuesday’s Else news release to announce the product as the first of its kind for the grocer.
The company views the placement as “a significant stride in Else’s Canadian market penetration strategy, providing a groundbreaking, tasteful, whole-food-based and lower-sugar alternative in the kids’ nutrition category,” according to Tuesday’s announcement.
The shakes are available in chocolate and vanilla, contain approximately 40 per cent less sugar than leading brands, and will be available at an additional 600 stores across North America and internationally by Q1 2024.
According to Research and Markets, the global health and wellness food market will end 2023 valued at US$124.26 billion and will grow to US$232.46 billion by 2030.
“We are elated to collaborate with this premier grocery chain, which illustrates our commitment to providing nutritious and tasty options for families. This partnership significantly amplifies our mission of making plant-based nutrition readily accessible to a wider Canadian audience,” Hamutal Yitzhak, CEO and co-founder of Else Nutrition, said in a statement.
Metro is a leading grocer and pharmacy operator in Quebec and Ontario. Its network of 975 food stores are branded under Metro, Metro Plus, Super C and Food Basics, while its 645 drugstores operate under the brands Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy. The company’s annual sales in 2022 reached almost C$19 billion.
Else Nutrition is a global food and nutrition company offering plant-based products for infants, toddlers, children and adults. It specializes in non-soy and non-dairy alternatives. Potential investors can learn more about Else by watching our feature on the company as part of The Market Herald’s Leading Edge.
Else Nutrition stock (TSX:BABY) last traded at $0.21 per share. The stock is down by 70 per cent over the past five years, despite having grown revenue by more than 15 times from 2019 to 2022.
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