Naturally Splendid Enterprises Ltd (CVE: NSP) (OTCQB: NSPDF) announced Wednesday that it has signed an exclusive sales and distribution agreement for an extensive line of plant-based products with one of Australia's most popular plant-based manufacturers.
Naturally Splendid said it has come to terms with BettaLife Global Food Solutions for the exclusive sales and distribution rights for Canada, for a wide range of plant-based, meat-alternative products.
The company also has been granted sales and distribution rights to access the US market. In North America, Naturally Splendid will market a product line under the brand NATERA Plant Based Foods.
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Although most consumers are aware of plant-based burgers, the NATERA Plant Based Food line offers consumers far more choices than most plant-based food manufacturers in North America, Naturally Splendid said.
NATERA Plant Based Foods have over 20 SKU's ready to go for the North American market which will begin to be systematically rolled out over the next six months.
The company is launching six of the 20 products into retail beginning in October. The NATERA Plant Based Foods retail line will include Burgers, Schnitzel, Kiev, Sweet Chili Tenders, Nuggets, and Garlic Cheese Bites.
NATERA Plant Based Foods will offer a range of plant-based alternatives for beef, chicken, pork, fish, and shellfish. In each category, there are multiple products which in turn provides significant choice for consumers looking to include plant-based foods into their eating habits.
NATERA Plant Based Foods is currently available for foodservice and is preparing for its retail launch for the fourth quarter of 2020.
Additionally, Naturally Splendid said it has confirmed adequate line-processing time with the manufacturer to meet current needs into 2Q 2021. The companies have begun discussions on building out a manufacturing facility in Canada to meet anticipated consumer demand.
"With our launch of NATERA Plant Based Foods, the Company is positioned to distribute delicious plant-based meals to a wide range of consumers in this rapidly growing category,” said Naturally Splendid CEO J Craig Goodwin in a statement. “Throughout these diverse opportunities, plant-based products have remained central to our strategy as they will moving forward."
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