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Home Consumer Goods

The Very Good Food Company (NASDAQ: VGFC) Soars 118% After Announcing Canadian Retail Expansion with Loblaw Companies

by admin

May 25, 2022

in Consumer Goods

The Very Good Food Company NASDAQ VGFC Canada Retail Expansion Spotlight Growth

The Very Good Food Company (NASDAQ: VGFC) (TSXV: VERY) is a Vancouver, Canada-based plant-based food company, which produces plant-based meat and cheese products. The company operates two core brands: The Very Good Butchers and The Very Good Cheese Co. Shares of the plant-based food technology company saw its NASDAQ-listed shares surge 118% during trading on Wednesday, May 25, 2022. Over the past three months, The Very Good Food Company has seen average daily volume of 1.17 million shares. However, 133.63 million shares or dollar volume of around $38.75 million, exchanged hands during Wednesday trading.

Shares of The Very Good Food Company skyrocketed after the company announced it has greatly expanded its Canadian retail distribution through a deal with Loblaw Companies Ltd. The Very Good Food Company’s soy-free, plant-based Cajun Sausage, Bratwurst, Meatballs, Very Good Ribs and Very Good Steak products, which will be available at select Real Canadian Superstore and Loblaws locations throughout Canada. The vegan food company’s products are now available is over 2,000 stores across North America, with additional expansion estimated for Summer 2022.

In addition to the retail expansion, The Very Good Food Company unveiled three new plant-based BBQ Ribs flavors: Smoky BBQ, Maple Bourbon BBQ, and Southern Gold BBQ. These new flavors will roll out to consumers this Summer.

“We’re incredibly excited to bring our successful products to Loblaw customers across Canada and serve up even more plant-based goodness, getting us closer to achieving our wholesale expansion targets with what we have in our pipeline,” said Jordan Rogers, Chief Commercial Officer. “Our new BBQ Ribs and Very Good Steak will continue to raise the plant-based bar by offering consumers innovative and “value-added” products that are unique in the market, making it easier for them to adopt a plant-based-based lifestyle.”

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/