VANCOUVER, BC, August 28, 2021- Modern Plant-Based Foods Inc., (CSE: MEAT) (” Modern Plant Based Foods “) or (the “Company “), an award-winning plant-based food company, is pleased to announce that it will be listing its plant-based snacks, Snacks from the Sun’s, “Popped Potato Crisps” with Germany’s largest grocery chain, ALDI. The products will initially role out at 285 ALDI retail locations.
Modern Plant-Based Foods Snacks from the Sun TM “Popped Potato Crisps” are light and airy crisps made from all-natural potatoes, whole grains, and seasonings, then popped. The chips are vegan and free of gluten, cholesterol, and saturated fat. These vegan snacks come in four different flavours: sour cream and chive, sea salt and cracked pepper, tangy barbecue, and nacho cheese. Currently, the ‘Popped Potato Crisps’ are in over 5,000 stores throughout the United States and Canada.
“We are thrilled to be listed with one of the largest most reputable supermarket chains in the world, stated Tara Haddad, Founder and CEO of Modern Plant-Based Foods. “This is a true milestone for our company. I am proud of the continued success we are having in the U.S. market with our plant-based snack line and all the hard work done by the Modern Plant-Based Foods team by expanding our presence in U.S. retail. We are seeing great growth and product acceptance with this snack line as consumers are reaching for healthy alternatives crafted from simple ingredients and are free of gluten.”
ALDI, a German family-owned supermarket chain founded in 1946 now has over 11,000 stores in over 20 countries with revenues north of $100 billion USD. With stores in
Belgium, the Netherlands, Luxembourg, France, Poland, Spain, Denmark, and Portugal, the ALDI group also operates the Trader Joe’s markets in the United States. ALDI U.S. is one of America’s fastest growing retailers, serving millions of customers across the country each month. With more than 2,000 stores across 37 states, ALDI is on track to become the third-largest grocery retailer by store count by the end of 2022.
“Retailers and consumers alike are quickly discovering how delicious and satisfying our popped crisps are. From the smart packaging to wholesome ingredients, there is no doubt we will see the demand for this product surge. Having a major retailer expand their existing customer offering to include Snacks from the SunTM is another indicator of the significant growth opportunities that are available for this product line. This is our first large step into a global retailer, and we are extremely excited by this opportunity.”
The company expects to continue to expand its presence at ALDI.
About Modern Plant-Based Foods
Modern Plant-Based Foods is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based products including meat and dairy-free alternatives, soups and vegan snacks. Our products are available at select restaurants and retailers across Canada including our own Modern Wellness Bars located in Vancouver. We take a holistic approach to plant-based living and understand the importance of providing nutritious and sustainable alternatives to consumers without sacrificing taste. We want people to feel good about the food they eat which is why we are deliberate in choosing ingredients free of soy, gluten, nuts and GMOs.
Our mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using natural plant-based ingredients.
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This news release includes certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the Company and the Company’s business and prospects; the Company’s objectives, goals or future plans; the Company’s sales growth, planned expansion, awareness of the Company’s brands, future sales and revenue growth, and the business, operations, management and capitalization of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; local and global market and economic uncertainties arising in respect of the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other judicial, regulatory, political and competitive developments; the ability to effectively expand manufacturing and production capacity; the ability to obtain retail partners to distribute Company products, the success of market initiatives and the ability to grow brand awareness; the ability to attract, maintain and expand relationships with key strategic restaurant and food service partners; our ability to predict consumer taste preferences; delay or
failure to receive regulatory approvals; the sufficiency of our cash to meet liquidity needs; those additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Accordingly, the forward-looking statements discussed in this release may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.