There’s massive demand for plant-based foods. So much so, the market could be worth up to $74.2 billion by 2027, according to Research and Markets. All as millions adopt healthier, meat-free lifestyles. Tyson, Smithfield, Perdue, Hormel, and Nestle sell plant-based products, for example. Consumer goods giant Unilever just set a $1.2 billion annual sales target on plant-based foods over the next five to seven years, as reported by Veg News. Even Target just announced it will be launching a line of plant-based food products, as demand explodes for meat and dairy alternatives, says CNN. Demand for plant-based foods continues to grow: Retail sales jumped about 28% over the past year, according to Nielsen. That increase in demand prompted Target to further grow its line. As plant-based food demand grows, it could benefit companies like Komo Plant Based Foods (CSE:YUM), Beyond Meat Inc. (NASDAQ:BYND), Very Good Food Company Inc. (TSXV:VERY)(OTC:VRYYF), Guru Organic Energy Corp. (TSX:GURU)(OTC:GUROF), and Tattooed Chef Inc. (NASDAQ:TTCF).
Komo Plant Based Foods (CSE:YUM) to Begin Trading Under CSE:YUM on June 8, 2021
Komo Plant Based Foods Inc. just announced the commencement of trading under the symbol CSE:YUM., Following the completion of a reverse merger transaction, Komo Plant Based Comfort Foods Inc. is now a wholly owned subsidiary of the Company.
Komo is an emerging plant-based food company that develops, manufactures, markets and sells a variety of plant-based frozen meals. Komo’s mission is to share the love of plant based foods through easy, wholesome and hearty favourites. It recreates vegan versions of traditionally cheesy and meaty classics with its Lasagna, Shepherd’s Pie and Chick’n Pot Pie, made with 100% plants.
Komo’s products are sold direct-to-consumer through its eCommerce website and a distribution network of online and brick and mortar grocery, convenience and natural retailer channels. Its dedication to taste and quality are apparent in its customer reviews. To see over 50 - five star reviews from verified buyers, visit https://komocomfortfoods.com/pages/reviews.
Komo has an experienced development team led by Jeffrey Ma, the CEO and President. Jeffrey has 9 years experience in the plant-based food industry. He was the Research and Development Project Lead at Daiya Foods Inc. for 4 years while the company grew to the #1 Plant-based cheese brand in North America. While at Daiya from 2012 to 2015, he led a cross-functional team to create new plant-based products, including the Daiya dairy-free mac & cheese which was a first-of-its-kind in the marketplace and was named PETA 2015 Best New Vegan Food Item. He also worked on innovative plant-based offerings in Daiya’s product portfolio including dairy-free yogurt, frozen pizza, cheese blocks and cream cheese. In 2017, Otsuka Pharmaceutical Co., purchased Daiya Foods for $405 million.
“We're pleased that Komo Comfort Foods is now listed on the CSE. As a public company, this allows like-minded consumers and investors to join us on our mission to share the love of plant-based foods,” says Komo CEO Jeffrey Ma, “At Komo, we believe that what is on our plates everyday has a significant impact on the planet, people and animals. We believe plant-based eating is the future of food and aspire that through our brand and foods, more people can enjoy delicious vegan favourites without sacrificing wholesomeness and heartiness. Product innovation will be at the core and care of our company and we look forward to sharing more about our exciting plans soon.“
Jeffrey was the Research & Innovation Manager at Vancouver-based protein shake, snack bar and supplement maker VEGA (Danone Company) for 3 ½ years, team leader while the company grew to the #1 Plant-based Protein Powder brand in North America. While at Vega from 2015 to 2019, Jeffrey was awarded Operations Member of the Year 2016 through successful launch and extension of Vega’s nutrition bar portfolio. He managed a team of five product developers to deliver Vega’s Innovation and Renovation roadmap, leading to renovation of 80% of Vega’s product portfolio and launching a new ready-to-drink and bars platform. Organic Foods producer WhiteWave Foods acquired Vega for USD$550 million in 2015 and then in 2016 Danone acquired WhiteWave Foods (with multiple brands including Vega) in a deal worth US$12.5 billion. Jeffrey has a Bachelor of Food Science degree from the University of British Columbia and he has an MBA from UBC.
Adjya Djoko is Senior Director, Operations & Food Safety, Komo Comfort Foods. Adya has 13 years of experience in the food industry. She worked at Daiya Foods Inc. from 2012 to March 2021. Her most recent position at Daiya Foods was as the Director of Food Safety & Quality Assurance, where she managed a team of 24 individuals in quality and regulatory affairs. In that role, she drove continuous improvement projects to keep up with a highly dynamic product development schedule and aggressive international expansion strategies. She is an expert in agile new product launches and commercialization. Adya has a Bachelor of Science in Food, Nutrition and Health from UBC.
Frédéric Gagné, the Director of Culinary Development for Komo, was culinary trained in Quebec, Canada, and he has been a professional plant based chef for 20 years. Chef Fred worked as the Executive Chef for one of Canada’s largest restaurants, SteamWorks, with a team of 42 chefs, for approximately 13 years and has expertise in the development and improvement of food service operations, including menus, food safety, costs & profitability. Chef Fred values the importance of sourcing sustainable ingredients and enjoys creating delicious plant-based dishes. As a vegan chef, he brings enthusiasm, creativity and a social awareness to everything he does.
Following the RTO, the management of the Company remains the same, with William White as President and CEO, Rick Huang as the CFO, and the directors are Daniel Kang, Angelo Rajasooria and Spiros Margaris. Jeffrey Ma is the President and CEO of the wholly owned operating subsidiary, Komo Plant Based Comfort Foods Inc.
For more details on the RTO, including the pre-closing completion of non-brokered concurrent financings of units by both the Company and Komo Comfort Foods, a debt settlement and option grant by the Company, please refer to the Company’s news releases dated February 8, April 13, April 21, and June 7, 2021.
Other related developments from around the markets include:
Beyond Meat Inc., a leader in plant-based protein, announced the launch of the first-ever value 6-pack of its iconic Beyond Burger® in Canada. Major grocery stores across Canada now carry the 6-pack of delicious plant-based burger patties, which are conveniently frozen and perfect for summer cookouts, backyard BBQs and last-minute grill nights. The new 6-pack offers mouth-watering taste along with added convenience and value for shoppers since they are sold in the frozen meat aisle with a suggested retail price of $19.99 CAD ($3.33 per patty). The Beyond Burger offers Canadians the juicy, delicious taste and texture of animal protein with the added nutritional and environmental benefits of plant-based protein. The Beyond Burger is packed with 20 grams of protein derived from simple, plant-based ingredients with 35% less saturated fat than ground beef and is made with no GMOs, soy, gluten or cholesterol.
Very Good Food Company Inc., a leading plant-based food technology company, announced that it has partnered with Vancouver-based homegrown meal kit company, Fresh Prep, to add VERY GOOD's innovative plant-based food products to its extensive menu of recipes and meal kits. The partnership with Fresh Prep marks VERY GOOD's entry into the food service and meal kit space representing the latest milestone in its growth strategy, which focuses on making its diversified line of minimally processed, high-quality plant-based foods easily accessible to its growing consumer base.
Guru Organic Energy Corp., Canada’s leading organic energy drink brand, will report its financial results for the second quarter ended April 30, 2021, after market close on Monday, June 14, 2021. Management will hold a conference call to discuss its financial results the same day at 5:30 p.m. ET. The conference call will include a Q&A period open exclusively to financial analysts who are invited to participate by using the dial-in number provided below. Other interested parties are invited to participate in the call on a listen-only basis and are encouraged to do so via live audio webcast, which will be available on GURU's website.
Tattooed Chef Inc., a leader in plant-based foods, announced that on May 14, 2021, it completed the acquisition of New Mexico Food Distributors, Inc. and Karsten Tortilla Factory, LLC for approximately $37.0 million in cash, subject to a customary adjustment based on inventory at closing. Foods of New Mexico produces ready-to-eat Mexican food items for both retail and food service. This acquisition diversifies Tattooed Chef’s manufacturing capabilities, expands production capacity, and accelerates the Company’s expansion outside frozen food and into ambient products. Foods of New Mexico’s facility in Albuquerque currently produces Mexican foods including quesadillas, burritos, and other handheld items, as well as sauces. The second facility in Karsten is brand new and will enable the Company to have extensive tortilla manufacturing capabilities as well as be able to customize the existing footprint.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Komo Plant Based Foods has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares Komo Plant Based Foods Please click here for full disclaimer.