An emerging plant-based food technology company, VERY invents, develops, manufactures, and sells bean and vegetable-based products through wholesale, retail, and DTC channels. The Very Good Food Company Announces Appointment of New Chief Financial Officer. The British Columbia plant-based food product company has appointed Bill Tolany. Obviously, there is a high degree of uncertainly regarding the above revenue forecasts and the company's ability to achieve scale. Seeking Alpha - The Very Good Food Company (OTCQB:VRYYF) came to my attention as the second alternative meat IPO. CEO, Mitchell Scott has stated that VERY intends to become a large, international company. The Very Good Food Company Vancouver, British Columbia, Canada 3 hours ago Be among the first 25 applicants. Currently, its Victoria location can produce 1,375,000 lbs per year. If VERY's successful at scaling its business in 2021 and replicating its local success on a global scale, I believe there's significant upside for its stock. 2. The Very Good Food Company is currently up 1.35 per cent to $8.98 per share; Plant-based food developer The Very Good Food Company (VERY) has chosen a new member for its board of directors. DTC's been an important channel for VERY but it's not going to make them a household name - evidence suggests major growth will be driven by its wholesale channel. The Very Good Food Company is seeking suitable candidates for the job of HR Specialist in Vancouver, BC. The Company believes these benefits will lead to a much shorter timeline to ramp up production with the Rupert facility’s operations expected to commence in Q1 2021. With a waiting list of more than 50 prospective wholesale partners, the demand in retail is driving our expected change to sell 70% of VGF’s future production through wholesale channels, compared to 20% year-to-date, with current gross sales per pound ranging from $7 to $10 ($15 to $22 per kg). There's very few people in the department I worked in that stay for long so I got to meet new people and oversee lots of visitors from around the world. Latimer Co. Limited Dealer number: 036 Symbol: VERY Quick Link:Market Marker Assignments While VERY faces sophisticated competitors and challenges in the near term, it has the product portfolio and brand to effectively compete. Expanding too quickly - opening two major production facilities in different geographic locations is challenging for any company, let alone a small start-up with limited capital and resources. If you continue to use this site we will assume that you are happy with it. What's more, DTC orders for VERY's vegan holiday products grew to record levels with presales for both Thanksgiving and Christmas at maximum capacity - these presales represent a greater than 300% annual increase in comparison to units sold during the 2019 holiday season. Large plant-based meat producers compete primarily on price and continue to slash prices as start-ups compete with them for slices of this rapidly expanding market. At The Very Good Butchers, we butcher beans to craft delicious plant-based meats. Retirement By Seeking Alpha. We’re on a mission to show that making good choices doesn’t mean sacrificing flavour. By continuing to use our service, you agree to our use of cookies. VERY's products are sold in 275 B.C. Strategically located on the same property as its logistics provider and close to key shipping routes, the Patterson facility can produce up to 98,500,000 lbs of annualized product. In comparison, the global meat market could be worth as much as $2.7T by 2040; however, a growing body of research suggests that most of the meat we consume by 2040 won't come from animals. The Village Taphouse: Very good food - See 169 traveler reviews, 57 candid photos, and great deals for West Vancouver, Canada, at Tripadvisor. A strategic shift away from DTC towards wholesale to aggressively pursue market share. The Very Good Food Company, which developed The Very Good Butcher brand, just announced its Q2 financial results for the period ended June 30th, 2020, revealing higher gross margins than industry giant Beyond Meat.The Canada-based vegan butchers also announced the rental of a strategically located California production facility. VGF’s products are currently sold in approximately 275 retail outlets which represents 6% of the total number of retail stores of both smaller independent grocers and national grocery store chains including Whole Foods Markets, Fresh St. Market, Choices Markets and IGA. At $9.00 per share and a forward P/S of 57.7, VERY's shares are expensive. VERY must continue to allocate capital efficiently, at home and in the US, or they could continue to see production challenges and bottlenecks. At The Very Good Food Company, we believe that making good choices doesn’t mean sacrificing flavour or giving up the things you love. However, on a substantial price pull-back (~25%-30%), I'd consider opening up a speculative position to catch some of the potential upside. Vancouver, British Columbia--(Newsfile Corp. - December 10, 2020) - The Very Good Food Company Inc. (CSE: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("VERY" or the "Company"), a progressive creator of innovative plant-based food products, is pleased to announce record sales in November due to highly successful … To get to know the unique bites (and sips) Vancouverites love to munch, start with these eleven favorites: JapaDog Vancouver’s original most-talked-about food cart serves Japanese-inspired hotdogs. There are two key strengths VERY can leverage to effectively compete with market leaders: VERY's products are exceptionally tasty and their recipes superior to their competitors' product offerings. VERY boasts an industry-leading gross margin of 42% - 13% higher than Beyond Meat's gross margin, suggesting a durable competitive advantage. The Government of Canada estimates that plant-based protein will contribute more than $4.5B to GDP in the coming years. Okay, quite a lot of it’s about the poutine. Click here to find out more ». Investors should exercise caution and take into consideration VERY's shares are up ~536% from June 2020. VANCOUVER – The Very Good Food Company Inc. (CSE: VERY) announced that it has signed a lease to secure a new production facility in Vancouver, British Columbia. The Very Good VANcouver Pop Up! Do NOT follow this link or you will be banned from the site. Vancouver, British Columbia--(Newsfile Corp. - December 10, 2020) - The Very Good Food Company Inc. (CSE: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("VERY" or the "Company"), a … The Very Good Food Company Inc. (formerly The Very Good Butchers Inc.) - Document Type: News release - English | Filing Date: 10-14-2020 | Issuer number: 00046020 | Project number: 03122597 An emerging plant-based food technology company, VERY invents, develops, manufactures, and sells bean and vegetable-based products through wholesale, retail, and DTC channels. Very Good Food’s November was very good indeed The company announced a record revenue of $782,790 for the month of November. The Vancouver Fish Company: Very good food and service and a nice view. As production catches up to demand, I believe it's reasonable to conclude VERY will see a moderate increase in revenues in fiscal 2021. Active contributors also get free access to SA Premium. Not afraid to roll up your sleeves, you are seeking a fast paced start-up environment where you can leverage and put all your skill sets to see projects come to fruition. I am not receiving compensation for it. The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a variety of plant-based meat and other food … The Very Good Food Company Announces Closing of Oversubscribed $13.2 Million Bought Deal Public Offering. Moreover, except for its Victoria location, its production targets are unknown, making 2021 revenue predictions, and therefore valuation, challenging. The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a variety of plant-based meat and other food … @goodfoodca has easy-to-follow recipe cards making it simple to cook delicious and unique meals at home. These are some serious numbers; for comparison, in 2019, Beyond Meat produced around 51M lbs of product. Furthermore, VERY's management team is inexperienced which could slow scaling efforts; however, they've recently onboarded former Daiya Foods president, Ana Silva, who is experienced in managing large-scale growth initiatives. Wine poured. Still, with so many alternative meat products coming to market, substitutes are plentiful, and I'd hazard a guess that consumer demand is fairly elastic. I wrote this article myself, and it expresses my own opinions. Very Good Food Company Announces November Sales Of $0.8 Million. ft. Rupert facility in Vancouver, the company will be able to produce over 37,000,000 lbs of annualized product. I have no business relationship with any company whose stock is mentioned in this article. Dining in Vancouver, British Columbia: See 218,733 Tripadvisor traveller reviews of 3,612 Vancouver restaurants and search by cuisine, price, location, and more. Annual global sales of plant-based meat alternatives have grown on average 8% a year since 2010, with projections forecasting that in 25 years, 20% of meat will consist of plant-based meat. Save my name, email, and website in this browser for the next time I comment. Very Good Food Company Inc (the) stock and Household & Personal Products market discussion, news, and analysis from Canada's largest community of active investors. June 26, 2020 Effective Monday, June 29, 2020, W.D. VERY's been successful at capitalizing on the above trends, capturing a small share of the market at the local level. By Alexis Baran Coastal and multicultural are the flavours of Vancouver’s most recognized specialties. The Very Good Food Company Announces Record Monthly Sales. The Very Good Food Company Announces Q2 Financial Results VANCOUVER, B.C., Sept. 1, 2020 /PRNewswire/ -- The Very Good Food Company Inc. (CSE: VERY) (OTC: VRYYF) (FSE: 0SI) (" VGFC " … We use cookies to ensure that we give you the best experience on our website. Despite the challenges and risks outlined in this article, I'm bullish on VERY. Market Maker: W.D. However, expanding internationally means VERY will be going head-to-head with firms such as Beyond Meat (BYND) and Impossible Foods, both with strong brand recognition and the resources to employ strategies to deter market entry, such as: Competition in the plant-based meat market is plentiful and fierce and market leaders continue to invest heavily in R&D to out-innovate emerging startups; for example, Impossible Foods raised $700 million in 2020 to fund new R&D initiatives and is in the process of doubling the size of their R&D team. Anyone that knows me will tell you my favourite nights are spent at home with great food and someone special to cook for. Very Good Food Company announced on Monday it has reached an agreement with Canaccord Genuity to raise $10 million to establish a new production facility in East Vancouver. Vancouver, British Columbia--(Newsfile Corp. - July 2, 2020) - The Very Good Food Company Inc. (CSE: VERY) ("VGFC" or the "Company") is pleased to … VERY may be successful in charging a premium for its products because of its brand position of quality. Annual lease payments will be approximately $881,528 in the first two years of the lease, $961,306 in years three and four, $1,007,177 in years five through seven, $1,053,048 in the eighth and ninth year and $1,098,919 in year ten. As a resident of Victoria, British Columbia (B.C. Vancouver, British Columbia--(Newsfile Corp. - December 10, 2020) - The Very Good Food Company Inc. (CSE: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("VERY" or the "Company"), a progressive creator of innovative plant-based food products, is pleased to announce record sales in November due to highly successful … In Vancouver we loved the little ramen bars, food trucks (like in Portland), cheap but delicious sushi, and generally just the vast range of food available. The Very Good Food Company, which developed The Very Good Butcher brand, just announced its Q2 financial results for the period ended June 30th, 2020, revealing higher gross margins than industry giant Beyond Meat.The Canada-based vegan butchers also announced the rental of a strategically located California production facility. The Company will take possession of the lease mid January 2021. — Aphria Inc. reported a loss of $5.1 million in... Share this article TORONTO — Long before Christina Lake Cannabis purchased its 32 acres of... Share this article TORONTO — Airbnb says it has a plan to curb New Year’s... Share this article TORONTO — November brought a sense of urgency to the Toronto real... Share this article SILVER SPRING, Md. — U.S. construction spending jumped 1.3% in October, the fifth... Share this article TORONTO — Home prices are increasing in Canada’s cottage country as more... Share this article WASHINGTON — U.S. home prices jumped in September as strong demand, low-interest... Share this article Lowe’s sales surged in the third quarter more people took on projects... Share this article TORONTO — Manulife Financial Corp.’s investment management business says it has purchased... Share this article The annual pace of housing starts increased three per cent in October... Share this article Home sales in October set a record for the month, even as they... Share this article CALGARY — It seems like a no-brainer to use clean-burning hydrogen to offset... Share this article ST. JOHN’S, N.L. Just need a date. American Thanksgiving contributed $384,045 to e-commerce sales in November 2020 representing 4,287 orders - a 1686% increase in the number of orders compared to November 2019. Production and distribution economies of scale; Website visits increased by 447,169 (+1,591%), The average order value increased by 108% and the number of orders increased by 986%. I have no business relationship with any company whose stock is mentioned in this article. Heavy demand and production bottlenecks mean VERY's had to waitlist 50+ wholesalers. By continuing to use our service, you agree to our use of cookies. The Rupert facility will require $3 million in leasehold improvements over the next 12 months to improve process workflow, drainage and heating, ventilation and air conditioning. What's yet to be seen, is if VERY can continue this momentum more broadly, domestically and on an international scale. I wrote this article myself, and it expresses my own opinions. Beyond Meat aspires to match the price of traditional meat with at least one of its products by 2024. VERY intends to open a retail location in Vancouver, B.C., which will provide an additional lift in demand in 2021. … “We expect to be able to bring the Rupert facility online swiftly and add significant capacity to address current production shortfalls arising from strong demand for our products in Canada and the U.S.” continued Mr. Scott. I loved working for this company because they were doing very good … An emerging plant-based food technology company VERY invents, develops, manufactures, and sells bean and vegetable-based products through wholesale, retail, and DTC channels. A free inside look at company reviews and salaries posted anonymously by employees. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Learn how your comment data is processed. Kevin Wendt on Instagram: «BBQ on. 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