Canada’s vegan butcher company Very Good Butchers plans US expansion
Vegan meat model The very good butchers (VGB)The corporate is owned by dad or mum firm The Very Good Meals Firm (VGF) and lately introduced plans to increase its Vancouver manufacturing facility and increase into the USA. The corporate began out as an area vegan meat provider in 2016 and has grown quickly to promote its plant-based burgers, sizzling canines, pepperoni, bacon, steaks and extra by means of numerous Canadian retail shops in addition to its personal butcher store.
In June, VGB started buying and selling on the Canadian inventory change below the ticker “VERY”, and inside just a few days its share rose 800 p.c. The US growth plans are backed by $ 8.5 million raised by the corporate in closing oversubscribed funds from its public providing. “We’re happy to shut this oversubscribed financing, which can help key parts of our development technique, akin to increasing our enterprise into the US,” mentioned Mitchell Scott, CEO of VGB. “This provides VGF entry to a really giant and rising marketplace for plant-based meals. We sit up for updating our shareholders as we transfer into the subsequent part of our development objectives. “
As well as, VGB has entered right into a partnership with three new logistics companions with whom the corporate can convey its merchandise to clients all through North America by floor transport inside three days. VGB can be working to greater than double the plant-based meat manufacturing at its Victoria, BC facility, from £ 8,100 to £ 19,800 per week.