Jan 20, 2022 Jay Jackson

Companies Kick Off Veganuary With New Food and Tech Offerings for Growing Market

 

For the first time in history, there’s now a monthly health cause wrapped around veganism called Veganuary, which started in January 2021. A record number of people, including meat-eaters, participated in this challenge to experiment with animal-free diets against the pandemic. Even fast-food restaurants like Burger King and Pizza Hut are continuing to add new plant-based offerings to a market poised to reach $162 billion within the next decade. At the same time, plant-based companies like Plantable Health Inc. (NEO: PLBL), Beyond Meat (NASDAQ:BYND), Yum! Brands (NYSE:YUM), Tattooed Chef, Inc. (NASDAQ:TTCF), and Sprouts Farmers Market, Inc. (NASDAQ:SFM) are focused on expanding their reach and launching digital services for the growing vegan food market.

Plantable Health Inc. (NEO: PLBL) began trading on the NEO exchange under the symbol PLBL, two weeks after completing its IPO. From the IPO, the company generated gross proceeds of C$4.5 million, which will be used to support present and future clinical trials, technology development, sales and marketing, and scaling the business.

Plantable Health is a New York-based company that was founded by Dr. Nadja Pinnavaia, a former managing director at Goldman Sachs for 12 years. Plantable Health a clinically supported dietary intervention company focused on health and wellness aims to make healthy eating effortless, through long-term behaviour change. The company achieves its mission by delivering customers with nutrient-rich, plant-based, chef-prepared meals, one-on-one personalized coaching support, and education resources to reset dietary habits, restoring good health and optimizing well-being. 

The listing on NEO exchange marks a significant milestone for the company, which according to the president and CEO of NEO, Jos Schmitt is the exchange’s “first female-led issuer” and the “first public listing at the intersection of the food and healthcare sectors.”

Commenting about the listing, Nadja Pinnavaia, CEO of Plantable said, “Our debut on the NEO Exchange is a significant milestone for our company as we look to leverage the capital markets to fuel our growth with the support of a Tier 1 exchange. We are on a mission to transform the health of a world that is addicted to processed food and give people the tools that will revolutionize healthcare.” 

On January 18, Plantable announced the launch of its lifestyle app, which is available for free download via the Apple App Store or Google Play. The Plantable App is the Plantable’s first expansion outside of the US and the first phase of the company’s digital health initiative.

Plantable offers a 28-day program designed to reset dietary habits. The company also has ongoing clinical trials in collaboration with the Memorial Sloan Kettering Cancer Center. Other clinical trials with Weill Cornell and Johns Hopkins are scheduled to start soon. 

For more information about Plantable Health Inc. (NEO: PLBL), click here. 

Meeting Market Demand With Plant-Based Alternatives

On January 10, Beyond Meat, Inc. (NASDAQ: BYND) and Pizza Hut, which is owned by Yum! Brands (NYSE:YUM), announced the rollout of plant-based Beyond Italian Sausage Crumbles throughout Pizza Hut Canada. Pizza Hut’s new menu items, containing the Crumbles, are back by popular demand after a successful trial in Toronto and Edmonton last summer. This launch is part of the collaboration between Beyond Meat and Yum! Brands to introduce plant-based menu items to meet the growing demand for plant-based meat alternatives to the Canadian Market. 

This isn’t the first time Yum! Brands, the parent company of KFC, Pizza Hut, Taco Bell and The Habit Burger Grill, has launched new products to meet the growing interest in plant-based alternatives. In late 2019, Plant-Based KFC was tested in the market and after “extraordinary demand” it has become a staple. 

Meanwhile, Supermarket chain Sprouts Farmers Market, Inc. (NASDAQ:SFM) has continued to grow its presence across the US with new store openings. On January 5, SFM celebrated the grand opening of its West Palm Beach and Boynton Beach stores. Two days later, the company announced that it will be celebrating the grand opening of its newest Denver store with Former NFL all pro running back and two-time Super Bowl Champion Terrell Davis.

Tattooed Chef, Inc. (NASDAQ:TTCF), a leader in plant-based foods, completed the acquisition of Belmont Confections, a private label co-manufacturer of snack bars for approximately $18 million in cash and stock, subject to a customary adjustment based on working capital at closing. It says the acquisition will allow it to enter the $10 billion global plant-based bar category in 2022. The acquisition also aligns with its strategy to expand its manufacturing capabilities and develop more ambient and refrigerated products. 

Plant-based companies like Plantable Health are rising to meet the growing demand and increased adoption of healthier plant-based food alternatives and launching initiatives to help consumers adopt healthier lifestyles.

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Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Plantable Health Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Plantable Health Inc.’s industry; (b) market opportunity; (c) Plantable Health Inc.’s business plans and strategies; (d) services that Plantable Health Inc. intends to offer; (e) Plantable Health Inc.’s milestone projections and targets; (f) Plantable Health Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Plantable Health Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Plantable Health Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Plantable Health Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Plantable Health Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Plantable Health Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Plantable Health Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Plantable Health Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Plantable Health Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Plantable Health Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Plantable Health Inc.’s business operations (e) Plantable Health Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Plantable Health Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Plantable Health Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Plantable Health Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Plantable Health Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Plantable Health Inc. or such entities and are not necessarily indicative of future performance of Plantable Health Inc. or such entities.