Capturing growth at approximately 252% vs 1
year-ago with an expected 32% gross margin, TRUBAR preliminarily
delivered approximately $19.2 million
in revenue in the first half of 2023, while ensuring positive
adjusted EBITDA performance
VANCOUVER, BC, July 13,
2023 /CNW/ - Simply Better Brands Corp. ("SBBC" or
the "Company") (TSXV: SBBC) (OTCQB: PKANF) is pleased to announce
it has entered into a strategic agreement with Acosta Sales and Marketing ("Acosta"), a
full-service sales and marketing agency made up of more than 20,000
associates that provide support scaling for some of the most
recognized CPG brands. Building off significant momentum, TRUBAR
will leverage Acosta's extensive sales and distribution network,
deep marketing insights, and expertise in retail execution to
rapidly expand its reach across the U.S marketplace. Acosta's
well-established relationships with retailers and their
comprehensive knowledge of consumer preferences will provide the
brand with an opportunity to scale across large-format and natural
grocery trade channels. This partnership supports TRUBAR'S mission
to democratize wellness and introduce their dessert-inspired
indulgent-Nutrition TM bars to a much larger consumer
base. TRUBAR adheres to the strict nutritional guardrails of
dairy-free, soy-free, no sugar alcohol, vegan, non-GMO and
gluten-free expected by loyal consumers of the brand.
"The indulgent taste and clean ingredient transparency are a
differentiator in a growing category where the consumer is
demanding more. This demand has TRUBAR growing at approximately
252% vs. YAG with first half preliminary revenue of approximately
$19.2 million vs. $4.6 million for the similar period in 2022. Our
new relationship with Acosta now expands our capability and
reach to activate retail distribution at a faster rate. The
additional resources will enable us to keep up with accelerated
retailer interest through consumer-centric innovation," says
Kathy Casey, Simply Better Brands
CEO. Echoing strong consumer interest, Financialbuzz recently
recognized TRUBAR as one of the Top 18 items Costco members are
raving about this month.
"We are thrilled to partner with Simply Better Brands
and TRUBAR, as the brand has built momentum, disrupting the
fast-changing protein bar market," said Chris Mathewson, Senior Vice President of
Acosta. "As consumers increasingly prioritize health and wellness,
TRUBAR offers a perfect solution for those seeking convenient and
flavor-forward nutritious on-the-go snack."
About Acosta
Acosta's suite of progressive, commerce-centric solutions
enables today's biggest brands, retailers, and foodservice
providers to win in the modern marketplace. Since 1927, Acosta has
developed trusted relationships and unmatched scale. In a complex
and fast-evolving omnichannel world, Acosta's network of companies
allows us to connect with shoppers wherever they are. Through
data-backed growth strategies and exceptional customer
experiences, we are connecting tomorrow's commerce today.
About Simply Better Brands
Corp.
Simply Better Brands Corp. leads an international omni-channel
platform with diversified assets in the emerging plant-based and
holistic wellness consumer product categories. The Company's
mission is focused on leading innovation for the informed
Millennial and Generation Z generations in the rapidly growing
plant-based, natural, and clean ingredient space. The Company
continues to focus on expansion into high-growth consumer product
categories including plant-based food, clean ingredient
skincare and plant-based wellness.. For more information on Simply
Better Brands Corp., please visit:
https://www.simplybetterbrands.com/investor-relations.
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.
Forward-Looking
Information
Certain statements contained in this news release constitute
"forward-looking information" and "forward looking statements" as
such terms are used in applicable Canadian securities laws.
Forward-looking statements and information are based on plans,
expectations and estimates of management at the date the
information is provided and are subject to certain factors and
assumptions, including, among others, that the Company's financial
condition and development plans do not change as a result of
unforeseen events, the regulatory climate in which the Company
operates, and the Company's ability to execute on its business
plans. Specifically, this news release contains forward-looking
statements relating to, but not limited to: the year over year
growth and expected gross margin of TRUBAR; and the effect and
success of the strategic agreement with Acosta and the effects that
the agreement will have on the Company and on the growth of TRUBAR,
including but not limited to statements that i) TRUBAR will be able
to leverage Acosta's sales and distribution networks to reach
across the U.S. marketplace; ii) Acosta will allow TRUBAR to scale
across large-format and natural grocery trade channels; and iii)
Acosta will provide the resources necessary to keep up with
accelerated retailer interest.
Forward-looking statements and information are subject to a
variety of risks and uncertainties and other factors that could
cause plans, estimates and actual results to vary materially from
those projected in such forward-looking statements and information.
Factors that could cause the forward-looking statements and
information in this news release to change or to be inaccurate
include, but are not limited to, the risk that any of the
assumptions referred to prove not to be valid or reliable, that
occurrences such as those referred to above are realized and result
in delays, or cessation in planned work, that the Company's
financial condition and development plans change, ability to obtain
necessary regulatory approvals for proposed transactions, as well
as the other risks and uncertainties applicable to the plant-based
food, clean ingredient skincare and plant-based wellness or
broader wellness industries and to the Company, and as set forth in
the Company's annual information form available under the Company's
profile at www.sedar.com.
The above summary of assumptions and risks related to
forward-looking statements in this news release has been provided
in order to provide shareholders and potential investors with a
more complete perspective on the Company's current and future
operations and such information may not be appropriate for other
purposes. There is no representation by the Company that actual
results achieved will be the same in whole or in part as those
referenced in the forward-looking statements and the Company does
not undertake any obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by applicable securities law.
SOURCE Simply Better Brands Corp