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Eat Well Investment Group Inc. (CSE: EWG) (OTC: EWGFF) Maintains $100 Million 2022 Revenue Projections; Attributes it to Strong Foundation Laid Down So Far
August 4, 2022

Eat Well Investment Group Inc. (CSE: EWG) (OTC: EWGFF) Maintains $100 Million 2022 Revenue Projections; Attributes it to Strong Foundation Laid Down So Far

  • Eat Well’s goal of investing in the entire plant-based supply chain has seen it acquire Belle Pulses Ltd., Sapientia, and 51% of Amara Organic Foods
  • It has also seen the company invest in the CPG sector, food technology, agribusiness, and the media sectors in what the management describes as a strong foundation within its investment platform
  • The company recognizes the ongoing global supply chain challenges brought about by the COVID-19 pandemic, as well as the ongoing Russia-Ukraine war, as an opportunity to grow its market share and address an unfulfilled demand for its products
  • It maintains its 2022 revenue projections for its portfolio companies at $100 million, attributing it to the strong foundation it has laid down so far, as well as the aggressive push for its brand in the market

Since its inception, Eat Well Investment Group (CSE: EWG) (OTC: EWGFF) has remained committed to exploring and evaluating new investment opportunities in plant-based foods. Its operations have explored various sectors, including precision fermentation and regenerative agriculture, with the overall goal of investing in the entire plant-based supply chain in what it describes as a “seed-to-market” approach (https://ibn.fm/y1MGo).

This outlook has seen Eat Well grow its portfolio significantly over the past few years, even securing awards for its pulse processing. In July 2021, the company completed a 100% acquisition of Belle Pulses Ltd., one of the top pulse processors in Canada, having exited 2020 with over $60 million in sales. The company would also close the acquisition of Sapientia and 51% ownership of Amara Organic Foods, with an option to increase it to 80%.

Eat Well has made significant investments in the Consumer Packaged Goods (“CPG”) sector, food technology, agribusiness, and the media sectors, all of which serve to diversify its product and service offering, as well as its revenue earnings. Most of all, these investments have laid down a strong foundation for the company, an investment that is slowly paying off to the benefit of its shareholders.

In June 2022, Eat Well released its financial results for the fourth quarter (“Q4”) and full year of 2021, noting a 1,082% asset growth from the previous year and a 320% revenue gain for Amara from 2020. The company also reported having raised $33.5 million of debt from a leading Canadian institution while also completing two subsequent event equity financings of $5.1 million and $5.018 million, respectively (https://ibn.fm/mtBui).

While making the announcement, the company’s Director, President, and Chief Executive Officer (“CEO”) noted:

“We have laid a strong foundation within the Eat Well Group investment platform, and we are very enthusiastic about the trajectory of our portfolio.”

“The global plant-based foods market continues to rapidly expand as consumers make healthier decisions for themselves and their families. Our portfolio companies are well-positioned to capture global pulse demand and accelerate the scale of their better-for-you consumer products for years to come,” he added.

With supply chain challenges brought about by the global COVID-19 pandemic, further exacerbated by the ongoing Russia-Ukraine war, consumers have had to deal with product shortages and subsequent price hikes. A United States Bureau of Labor Statistics report noted that food at home for the 12 months ended June 2022 had increased by 12.2%. In addition, food away from home (restaurants and fast food) increased by 7.7% in what the report described as “the largest 12-month increase since the period ending November 1981” (https://ibn.fm/TzHXS).

While many might view this as a hurdle, Eat Well recognizes it as an opportunity. For instance, with the growing food security concerns, its subsidiary, Belle Pulses, is expanding its production facility in response. In addition, Mr. Aneed has also confidently stated that Amara Organic Foods is in an excellent position to deal with the shortages that have plagued the industry in the past few months to take advantage of the demand that is not being satisfied by the existing supply.

Eat Well maintains its 2022 revenue projections for its portfolio companies at $100 million, and it is right on target given its annual financial statements released in June this year. The company attributes this to the strong foundation it has laid down so far and how aggressively it is pushing its brand in the market, not just by introducing new products but also by entering into distribution agreements with key retailers across North America. In addition, its subsidiaries are expanding their market reach and capacity in response to food security concerns arising from the war in Ukraine.

For more information, visit the company’s website at www.EatWellGroup.com.

NOTE TO INVESTORS: The latest news and updates relating to EWGFF are available in the company’s newsroom at https://ibn.fm/EWGFF

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