It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. 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. Lastly, if VERY's able to get the Patterson facility up and running by April 1, 2021, this leaves 39 weeks of production time remaining in 2021. CanadianInvestor.com © 2020 by Newmarket Media Inc. You have successfully subscribed to the newsletter. By continuing to use our service, you agree to our use of cookies. While VERY faces sophisticated competitors and challenges in the near term, it has the product portfolio and brand to effectively compete. Search for more HR Specialist jobs in Vancouver, BC at other companies. However, on a substantial price pull-back (~25%-30%), I'd consider opening up a speculative position to catch some of the potential upside. 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. The Very Good Food company is looking for a Project Manager specializing in Technology to facilitate and own our vendor selection and subsequent ERP implementation. 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. June 26, 2020 Effective Monday, June 29, 2020, W.D. Editor's note: Seeking Alpha is proud to welcome Derek Moryson as a new contributor. 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 … Click here to find out more ». 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. 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. 40.7k Followers, 805 Following, 892 Posts - See Instagram photos and videos from The Very Good Butchers (@theverygoodbutchers) Subtle differences in branding and positioning that may be noticed by Victorians and Vancouverites may make little difference to price-conscious consumers in international markets with a plethora of substitute products at their fingertips. Seeking Alpha - The Very Good Food Company (OTCQB:VRYYF) came to my attention as the second alternative meat IPO. Therefore, a conservative, forward-looking revenue projection for 2021 is $11.6 million (NYSEARCA:CAD). 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. This is a quick and dirty approach to valuation. Company profile page for Very Good Food Co Inc/The including stock price, company news, press releases, executives, board members, and contact information Over the decades our business has transformed, reflecting the changes in consumer behavior. ), I've watched VERY and its brand, The Very Good Butchers, gain traction in the local economy over the past three years as producers of plant-based foods of the highest quality. While we don't know VERY's production targets for this facility and how quickly they plan to scale; if we adopt the same conservative weekly production volume of 10% of the Victoria facility, this results in $815,100 in revenue in 2021. 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. Very Good Food Company Announces November Sales Of $0.8 Million. Brand differentiation - Victorians are known for supporting local businesses and being receptive to homegrown products. — Husky Energy will receive $41.5 million in federal... Share this article FRANKFURT — The OPEC oil producers’ cartel was to push ahead with a... Share this article CALGARY — Shares in Imperial Oil Ltd. were rising after it announced late... 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Limited will be the temporary Market Maker responsible for the Guaranteed Fill volume and automatic execution of odd lots for the symbol below. A free inside look at company reviews and salaries posted anonymously by employees. Very Good Food’s November was very good indeed The company announced a record revenue of $782,790 for the month of November. I have no business relationship with any company whose stock is mentioned in this article. As production ramps up in Victoria and VERY opens its new 45,000 sq. Save my name, email, and website in this browser for the next time I comment. The Very Good Food Company Vancouver, British Columbia, Canada 3 hours ago Be among the first 25 applicants. VERY plans to use this capital to aggressively ramp up production in 2021 with the opening of two new major production facilities - the Rupert location in Vancouver, B.C., and the Patterson facility in California. Anyone that knows me will tell you my favourite nights are spent at home with great food and someone special to cook for. Wine poured. On December 10, 2020, VERY announced record-breaking sales of $782,790 in November 2020, up 582% over November 2019. Currently, its Victoria location can produce 1,375,000 lbs per year. Dining in Vancouver, British Columbia: See 218,733 Tripadvisor traveller reviews of 3,612 Vancouver restaurants and search by cuisine, price, location, and more. ft. California-based Patterson facility will enable VERY to gain a foothold in America's third most vegetarian state. We use cookies to ensure that we give you the best experience on our website. Market Maker: W.D. To that end, VERY issued stock on the Canadian Securities Exchange in June 2020, raising $8.5 million. VERY intends to open a retail location in Vancouver, B.C., which will provide an additional lift in demand in 2021. 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 alternatives. VERY boasts an industry-leading gross margin of 42% - 13% higher than Beyond Meat's gross margin, suggesting a durable competitive advantage. About The Very Good Food Company The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a … In Canada, more than 40% of the population (15 million) are actively incorporating more plant-based food into their diets, and sales of plant-based protein products rose 7% to more than 1.5B in the 2016/2017 fiscal year. June 27, 2017. ... Pivot HR Services is pleased to present this Continous Improvement Engineer position on behalf of our client The Very Good Food Company. The long weekend is fast approaching and we know many of you are planning on firing up the grill. “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. To help you on your quest, we’ve put together a handy checklist of the best traditional Canadian foods to try. The company's mission is to employ plant-based food technology to create products that are delicious while maintaining a wholesome nutritional profile. The pandemic likely bolstered VERY's 2020 sales and investors should be cautious of declining revenue as the pandemic winds down. The Very Good Food Company Announces Appointment of New Chief Financial Officer. Very Good Food’s November was very good indeed The company announced a record revenue of $782,790 for the month of November. 3. Bask in the salty, sweet, and spicy tastes of seaweed flakes, teriyaki sauce, miso, Drive, bike, walk, public transport directions on map to Good Taste Foods Company - HERE WeGo Language barriers arose from time to time but we we're able to work through it. So here we go, our nine favourite eateries in Vancouver! 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. 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 The global plant-based protein market is approximately $10B USD in size and is expected to balloon to $35B by 2027 - this is a conservative estimate. What's yet to be seen, is if VERY can continue this momentum more broadly, domestically and on an international scale. The Good Food Institute announced plant-based meat sales were 454% higher than the previous year in March 2019. Already built-out as a food production facility by its previous plant-based operator, the Rupert facility comprises approximately 45,000 square feet of production, refrigeration, warehousing, R&D and office space. It's unlikely VERY will reach even 50% production capacity at the Patterson facility any time soon, still, the bandwidth available supports long-term growth in the US market, enabling VERY to match production as demand increases in years to come. VERY may be successful in charging a premium for its products because of its brand position of quality. Revenues continued to climb in Q3, up 26.6% over Q2. The Very Good Food Company Announces Record Monthly Sales. The Very Good Food Company Announces Record Monthly Sales. 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. I wrote this article myself, and it expresses my own opinions. ETFs & Funds By Seeking Alpha. For comparison, Beyond Meat's P/S (TTM) is 21.3. Access and download the latest documents for The Very Good Food Company Inc. (formerly The Very Good Butchers Inc.) Search within PDF documents. Latimer Co. Limited Dealer number: 036 Symbol: VERY Quick Link:Market Marker Assignments VGF will also pay a management fee to the landlord equal to 5% of the applicable base rent. “The timely availability of the Rupert facility has presented us with a unique opportunity to address near-term demand while we work to operationalize our facility in Patterson, California,” said Mitchell Scott, Chief Executive Officer. Additionally, e-commerce metrics reveal increasing demand from DTC business in Q2: In Q3, weekly production volume increased to 11,000 lbs per week, an increase of nearly 50% over August numbers. SMAK fuels Vancouver with healthy fast food from its two locations (and there’s soon to be a third one on Howe Street). VERY's experiencing explosive growth in 2020 and plans to significantly expand operations in 2021. He said Very has already partnered with grocery chains like Sobey's and Whole Foods Markets in Canada. I am not receiving compensation for it. VERY's products are sold in 275 B.C. — 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. CEO, Mitchell Scott has stated that VERY intends to become a large, international company. The Very Good Food Company, which runs Very Good Butchers out of Victoria’s Public Market, will benefit from $4,025,000 in earnings for offering 16,100,000 of it’s total 69,000,000 shares. Retirement By Seeking Alpha. Good Taste Foods Company Fraser St Vancouver - Food & Drink. 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. The Company will take possession of the lease mid January 2021. 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 alternatives. 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. — 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. An emerging plant-based food technology company VERY invents, develops, manufactures, and sells bean and vegetable-based products through wholesale, retail, and DTC channels. 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. Throughout 2020, product orders across North America have increased. While Beyond Meat (BYND) has seen its shares drop … As production catches up to demand, I believe it's reasonable to conclude VERY will see a moderate increase in revenues in fiscal 2021. The Very Good Food Company is currently up 1.35 per cent to $8.98 per share at 3:10pm EST. 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. December 10, 2020 8:20 AM December 10, 2020 8:20 AM Jay Lutz 0 Comments The Very Good Food Company. If you continue to use this site we will assume that you are happy with it. The Very Good Food Company is seeking suitable candidates for the job of HR Specialist in Vancouver, BC. 40.7k Followers, 805 Following, 892 Posts - See Instagram photos and videos from The Very Good Butchers (@theverygoodbutchers) ft. Rupert facility in Vancouver, the company will be able to produce over 37,000,000 lbs of annualized product. 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. Was an error while trying to send your request GDP in the coming years a... - Food & Drink LEAMINGTON, Ont in charging a Premium for its products because of brand. Latest... share this article myself, and it expresses my own opinions on firing up the grill are with! 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