Amara’s organic plant-based baby food is now available at Kroger.com and Vitacost.com
VANCOUVER, British Columbia, May 17, 2022--(BUSINESS WIRE)--Eat Well Investment Group Inc. (the "Company" or "Eat Well Group" or "EWG") (CN:EWG) (US:EWGFF) (FRA:6BC0) is pleased to announce that one of its investee companies, Amara Organic Foods ("Amara"), one of the fastest-growing baby food brands in America, is available at The Kroger Co.’s (NYSE:KR) ("Kroger") eCommerce platforms, Kroger.com and Vitacost.com.
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Amara Organic Smoothie Melts (Photo: Business Wire)
Headquartered in Cincinnati, Ohio, Kroger is one of the largest retailers in the United States based on annual sales. The company boasts over 2,750 grocery retail stores under a variety of banner names. Kroger formats include supermarkets, seamless digital shopping options, price-impact warehouse stores, and multi-department stores.
"Amara is pleased to add more premier eCommerce distribution with Kroger.com, one of the largest retailers in North America," stated Jessica Sturzenegger, CEO of Amara. "Increased distribution through eCommerce channels continues to be a strategic focus of Amara to drive both topline revenue and to maximize margins that come from a DTC environment," continued Jessica.
Distribution to Kroger’s eCommerce platforms compliments Amara’s already strong retail and digital footprint which includes distribution to many of North America’s leading big-box retailers, including Amazon, Walmart Canada, Whole Foods, Sprouts Farmer’s Market, HEB, Loblaws and more. Amara is focused on accelerating its omnichannel sales distribution strategy and continued growth across natural health food stores and traditional big-box retailers, in addition to ecommerce.
The Company’s management believes Amara’s growth can be attributed to the global trend of consumers seeking nutritious plant-based foods to add into their everyday lifestyles, and Amara’s delicious toddler snacks and baby foods being 100% organic with excellent taste. The infant nutrition market is estimated to reach over $109 billion globally by 20271, and Amara is poised to be a leader in the plant-based segment.
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ABOUT EAT WELL GROUP
Eat Well Group is a publicly-traded investment Company primarily focused on high-growth companies in the agribusiness, food tech, plant-based and ESG (environmental, social and governance) sectors. Eat Well Group’s management team has an extensive record of sourcing, financing and building successful companies across a broad range of industries and maintains a current investment mandate on the health/wellness industry. The team has financed and invested in early-stage venture companies for greater than 25 years, resulting in unparalleled access to deal flow and the ability to construct a portfolio of opportunistic investments intended to generate superior risk-adjusted returns.
Disclaimer for Forward Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities laws (collectively, "forward-looking information"). Forward-looking information are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," "likely" and "intend" and statements that an event or result "may," "will," "should," "could" or "might" occur or be achieved and other similar expressions. Forward-looking information in this news release includes the projected growth of the infant nutrition market and Amara’s ability to benefit from such growth. Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to a continued increase in demand within the infant nutrition market and the ability of the Company or its portfolio companies to execute their business plans. The Company considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those expressed or implied in the forward-looking information. Such risks include, without limitation unexpected disruptions to the operations and businesses of Amara; the ability of Amara to comply with applicable government regulations; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; costs of inputs; crop failures; litigation; currency fluctuations; competition; availability of capital and financing on acceptable terms; industry consolidation; loss of key management and/or employees; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. For more information on the Company and the risks and challenges of its investments, investors should review their annual filings that are available at www.sedar.com.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
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