- Expands coverage nationally across Canada and the U.S., making it easier for
consumers to find Sol Cuisine products locally, or purchase
products online through any one of several established e-commerce
platforms.
- Will enhance the Company's customer conversion rate as it
steadily builds its marketing investments.
MISSISSAUGA, ON, July 14, 2021 /CNW/ - Sol Cuisine Ltd. ("Sol
Cuisine" or the "Company") (TSXV: VEG) a growth-oriented North
American plant-based protein leader, today announced that it has
launched initial e-commerce capabilities in partnership
with Destini™ Global, LLC ("Destini"), a leading provider of
digital solutions to innovative CPG brands in North America, powered by a powerful
store-level database and tool set. Available at
solcuisine.com, these initial capabilities include: a product
locator, to help customers locate Sol Cuisine products in nearby
stores; and an e-commerce link to eight established sites where
customers can purchase Sol Cuisine products directly. In
Canada, solcuisine.com will link
to: Voila, Loblaws, Instacart, Real Canadian Superstore, Safeway,
SaveonFoods, Maxi, Cornershop, and Vejii. In the U.S.,
solcuisine.com will link to: Instacart, Cornershop, and Vejii.
In addition to these consumer-facing capabilities, the Destini
platform includes a robust suite of consumer demand analytics,
which will enable Sol Cuisine to map consumer interest, track
search results and match the launch of new or additional SKUs in
areas that align with consumer demand based on hard data.
John Flanagan, CEO of Sol
Cuisine commented, "As we continue to invest in marketing
and the expansion of our distribution network, online-initiated
orders and new channels such as e-commerce will be critically
important capabilities in our broader toolkit. Our marketing
efforts have resulted in strong growth in customer inbounds, and we
are now positioned to handle these inquiries efficiently, drive
consistent growth in customer conversion rates and generate solid
returns on our marketing spend. With a robust portfolio of
differentiated centre-of-plate offerings that are taste
preferredi and nutritionally superiorii vs.
other leading plant-based brands in the market, we fully expect to
continue growing revenue as we get Sol Cuisine products in front of
more consumers, both in-store and online."
For more details, visit Sol Cuisine's IR website at:
investors.solcuisine.com or contact the IR team at
investors@solcuisine.com.
About Sol Cuisine Ltd.
Sol Cuisine is the publicly traded parent company of Sol Cuisine
Inc. following the completion of its "qualifying transaction" on
May 19, 2021. Sol Cuisine is a
fast-growing producer of branded, consumer-preferred plant-based
protein offerings across key center-of-plate and appetizer
categories. The Company's products are offered through an
established omni-channel distribution platform in Canada and the U.S. and are available in over
11,000 stores and more than 41,000 unique points of distribution.
Over a history of 20+ years, Sol Cuisine has consistently
demonstrated an ability to innovate and delight consumers in
Canada and the U.S., while
remaining true to its commitment to producing great tasting
products that are nutritionally superior both to meat-based
offerings and to competitive plant-based products. This commitment
has resulted in several Canadian product wins, including the #1
frozen plant-based burger in Canada, the #1 consumer-preferred chicken
alternative and the #1 quality roast product as determined by Whole
Foods Market. The Company's taste and nutritional superiority has
also resulted in private label contracts with some of the most
recognized natural brands in North
America. These products are all produced at Sol Cuisine's
two state of the art facilities, totaling 35,000 square foot
facility in Mississauga, Ontario,
capable of supporting up to 10 million kilograms of volume per
annum.
For more details on Sol Cuisine's consumer brands:
Website: www.solcuisine.com
Instagram: @solcuisine
Facebook: @solcuisine
Twitter: @solcuisine
LinkedIn: @solcuisine
Forward Looking Statements
This press release includes forward-looking information within
the meaning of Canadian securities laws regarding the Company and
its business. Often but not always, forward-looking information can
be identified by the use of words such as "expect", "intends",
"anticipated", "believes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would" or "will" be
taken, occur or be achieved. Such statements are based on the
current expectations and views of future events of the management
of each entity, and are based on assumptions and subject to risks
and uncertainties. Although the management believes that the
assumptions underlying these statements are reasonable, they may
prove to be incorrect. The forward-looking events and circumstances
discussed in this press release may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the company, including risks regarding the
size of the industry, the growth of the market for the Company's
products, the rate and quantity of production at the Company's
facilities, market conditions, economic factors, management's
ability to manage and to operate the business of the Company and
the equity markets generally. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and the Company undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
The TSX Venture Exchange has not reviewed, approved, or
disapproved the content of this news release.
John Flanagan
Chief
Executive Officer
905-502-8500
Forward Looking Statements
This press release includes forward-looking information within
the meaning of Canadian securities laws regarding the Company and
its business. Often but not always, forward-looking information can
be identified by the use of words such as "expect", "intends",
"anticipated", "believes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would" or "will" be
taken, occur or be achieved. Such statements are based on the
current expectations and views of future events of the management
of each entity, and are based on assumptions and subject to risks
and uncertainties. Although the management believes that the
assumptions underlying these statements are reasonable, they may
prove to be incorrect. The forward-looking events and circumstances
discussed in this press release may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the company, including risks regarding the
ease of consumers to find the Company's products locally or to
purchase products online, the Company's conversion rate, the
ability of the Company to map consumer interest, track search
results and match the launch of new or additional SKUs and
continued revenue growth,. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and the Company undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
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i Proprietary study n=350, Jan
2021
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ii Superior based on a comparison to
major competitive frozen burgers, 113g serving size
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SOURCE Sol Cuisine Ltd.