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CSE:VEGIOTC:VGGIF
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Boosh Plant-Based Brands readies for growth with expansion into US market

Snapshot

The company has combined 100% plant-based dishes with the ease of frozen meals to heat up the ready-to-eat meal industry

Boosh Plant-Based Brands Inc - Boosh Plant-Based Brands readies for growth with expansion into US market

Quick facts: Boosh Plant-Based Brands Inc

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CSE:VEGI

Price: 1.22 CAD

Market Cap: $19.49 m
  • Award winning product line featuring six frozen meals
  • All meals 100% plant-based, non-GMO and gluten free 
  • Branding and supply alliance with Beyond Meat  
  • Presence in more than 300 Canadian grocery stores and growing 

What Boosh Plant-Based Brands does: 

Boosh Plant-Based Brands Inc (CSE:VEGI) (OTCPink:VGGIF) is striving to serve the plant-based, gluten free crowd one delicious dish at a time. 

Based in Surrey, British Columbia, the plant-based nutritional comfort foods company was founded in 2017 with the goal of offering quick meal options that are 100% plant-based. By eliminating all dairy and animal products Boosh offers tasty and easy meals in completely compostable containers the whole family will enjoy. 

A year later Boosh products were on the shelves of grocers in the Metro Vancouver area. 

The product line includes six fresh-frozen ‘heat and eat’ meal options. Four individual meal offerings: Veggie Bolognaise featuring Beyond Meat’s Beyond Beef Crumbles; Coconut Curry Cauli; Mexican Fiesta; and Mac & Cheeze & Peas. There are also two larger portion heat and serve entrées for two: Rustic Veggie Pot Pie; and the Hearty Sheppard’s Pie featuring Beyond Meat’s Beyond Beef Crumbles. 

In less than 18 months a deal with one of the largest distributors in North America put the Boosh line of heat and serve meals in more than 300 stores. 

2019 was also the year Boosh was awarded the Local Innovation Award from Canadian grocer, Sobeys. The fresh-frozen foods company was also a finalist for Product of The Year in 2020 from BC Food & Beverage, and in the same year the company took home the Rising Star Award from BC Food & Beverage. 

How is it doing: 

Summer 2021 will mark another major milestone for Boosh as the company expands into the refrigeration category with three exciting new offerings: Sloppy Joes; Mushroom Gravy; and Chili.  

To start 3Q 2021, Boosh began trading on the US OTCPINK market, under the symbol VGGIF. The company has also applied to have its stock upgraded to trade on the OTCQB market. During 2Q 2021, Boosh closed its initial public offering (IPO) for gross proceeds of $2.8 million. Shares began trading on the Canadian Securities Exchange (CSE) under the ticker symbol VEGI on May 27, 2021. There are currently more than 1,100 investors betting on Boosh, with an additional 16 million shares outstanding.  

In mid-June Boosh engaged the services of Thrive Natural Sales, an award-winning, nationally recognized premier food broker. Thrive Natural will serve as the company’s US representative as it begins its expansion into the American market. Thrive will also provide an outsourced solution to national sales and supply chain management. 

June also saw the business begin its digital and television commercials campaign. The first commercials aired on June 9 during news segments on Global TV in British Columbia, Ontario and Quebec. The digital commercials can also be seen on social media platforms. 

Boosh plans to roll out a more comprehensive commercial strategy targeting lifestyle channels in the Fall. The advertisements will be filmed at the company’s 8,500 square foot multi-use facility that it leased in December 2020. 

This space is currently in the process of being remodeled to include a multi-media studio kitchen incorporating a commercial grade camera and supporting equipment, as well as state-of-the-art lighting and broadcasting equipment to produce both pre-recorded and live content to be distributed through social media platforms. 

In addition to promotional content, the studio will be utilized to educate about the benefits of living a plant-based life through interviews with successful vegan athletes, industry experts and other plant-based food producers. The multipurpose facility is in the final stages of completion and Boosh expects the studio kitchen to be operational by July 15, 2021. 

In an effort to grow its brand visibility, Boosh hired Agora Internet Relations Corp for online marketing, as well as Amherst Baer Consultancy Corporation to provide video interviews, copy-written creation and digital media buying. 

Inflection points: 

  • Late 2Q expansion into US market 
  • Recently acquired vegan powdered cheese company 
  • Three new refrigerated dishes coming Summer 2021 
  • Shelf-stable products arriving Fall 2021 

What the boss says: 

Jim Pakulis, CEO of Boosh has highlighted the company's belief in its growth position and the value it offers.

 “We’re in over 300 stores and growing, we’ve expanded our sales department, our market cap is significantly undervalued, and we only have 16 million shares outstanding," he said. "Compare that with most company’s that have 50 million or 100 million shares outstanding. As a result, we truly believe Boosh is an excellent investment.” 

Contact the writer at georgia@proactiveinvestors.com

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