The Toronto-based company signed a new agreement with The Yield Growth Corp (CSE:BOSS) (OTCMKTS:BOSQF), a health and wellness company out of Vancouver.
The two companies plan to launch Yield Growth subsidiary Flourish Mushroom Labs’ mushroom coffee mixes infused with various wild mushroom brands like Lion’s Mane, Turkey Tail, Reishi and Chagas.
READ: EuroLife Brands becomes exclusive distributor of mushroom-derived products, thanks to new deal with Champignon Brands
The agreement gives Eurolife exclusive distribution rights in Germany, the UK and Switzerland for an initial one-year period, with the option to extend the term if the line hits minimum sales targets. Eurolife also has non-exclusive distribution in other territories for two years.
Yield and Eurolife plan to integrate mushroom coffee mix products into Eurolife’s e-commerce platform in the second quarter of 2020.
Eurolife CEO Shawn Moniz told investors that the company was excited to partner with Yield Growth on the new line.
"Our research indicates a huge opportunity to sell the Flourish Mushroom Labs mushroom coffee line to European consumers who are educated and health conscious and demand high quality products that are on the cutting edge of their respective industry segments."
Yield Growth CEO Penny White said that the company hopes to expand its mushroom coffee line to include products with microdoses of psilocybin from magic mushrooms as the legalization of psychedelics unfolds.
According to data provided by Research and Markets, the global functional food market is expected to reach US$34.3 billion over the next five years.
This isn’t the first foray into mushrooms for Toronto-based Eurolife – the company recently inked a deal with artisan mushroom cultivator Champignon Brands Inc on a variety of mushroom-derived consumer packaged goods offerings.
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