VANCOUVER, Feb. 28, 2018 /CNW/ - Global Gardens Group Inc. (the "Company") (TSXV: VGM) is pleased to announce the arrival of its proprietary "Veggemo" non-dairy beverage product line into Bermuda.
"Our global expansion continues," comments Rob Harrison, Global Gardens Group President & CEO. Mr. Harrison further stated, "outside of North America, Bermuda represents our second international market of entry following China. Many international markets are enticing to enter driven by a population that has a high percentage of adults who are lactose intolerant and Bermuda is no exception."
The Company has an exclusive distribution agreement in place with "Live Plus Bermuda." Live Plus Bermuda, founder and principle Jared Dylan Petty explains "current non-dairy milk products in Bermuda lack the overall nutritional benefits that are important in a healthy diet. Veggemo has 6 grams of protein per serving size, is rich in calcium and vitamin D, while being an excellent source of vitamin B12. Veggemo's shelf stable product offering is perfect for countries like Bermuda which lack the supply chain to support a refrigerated format. We are so excited to bring Veggemo to Bermuda based on the success of our initial consumer and retailer testing."
The Veggemo product line is the non-dairy milk originating from vegetables and is Global Garden Group's (VGM) showcase product for the dairy-free industry. Veggemo is available in a non-refrigerated shelf stable format in 3 flavors: Original, Unsweetened and Vanilla. Veggemo competes with Silk (Whitewave), Almond Breeze (Blue Diamond), Hain Celestial, Pacific Foods, Ripple Foods, Califia Farms, amongst others. The dairy-free industry continues to witness dynamic growth led by the development of, and the consumer shift to, plant-based food and beverages.
Driven by shifting consumer behavior, Health & Wellness food and beverage companies have become a popular acquisition target for many multi-national corporations. Most recently WhiteWave Foods, the provider of plant-based foods and beverages, was successfully sold to Danone for $12.5 billion, representing a 3.1x revenue multiple.
About Global Gardens Group
Global Gardens Group is comprised of a highly experienced management team and board that have provided senior leadership to many consumer brands and financial institutions including: Neilson Dairy, Ben & Jerry's and Haagen Dazs ice cream, Gillette, P&G, Cadbury Schweppes, Sunkist, Primo Pasta, Tropicana, Sunny Delight, Price Waterhouse Coopers, Desjardins Securities Inc., Orion Securities Inc., Vengate Capital, HSBS Securities Inc., and Gordon Capital.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Global Gardens Group Inc.
For further information: Investor Relations: Rob Harrison, President & CEO, Global Gardens Group Inc., T: 604.351.7609, [email protected]