Pangea Natural Foods Inc. Provides Comprehensive Corporate Update
VANCOUVER, BC, Sept. 14, 2023
VANCOUVER, BC, Sept. 14, 2023 /CNW/ -- Pangea Natural Foods Inc. (the Company) (CSE: PNGA) (OTCQB: PNGAF) a manufacturer and co-packer of health food products, is pleased to provide a comprehensive update and outlook for Q3 and Q4 2023.
Glory Organic Juice Company Inc. ("Glory Juice")
Glory Juice Website: www.gloryjuiceco.com
On April 24th, Pangea announced it entered into a share exchange agreement with Glory Organic Juice Company Inc., Glory Juice Co. Vancouver Ltd. Pursuant to the Agreement, the Company acquired all of the issued and outstanding shares of Glory Juice making each of the Glory Juice entities a wholly owned subsidiary of Pangea.
Pangea's 100% owned Glory Juice Co. has now opened 4 locations and is anticipated to continue to expand across British Columbia and Canada with new product launches and significantly expanded operations throughout 2023-2024.
Glory Juice Co. was founded with a vision to support and nourish the body, mind and local community through organic, locally sourced, nutrient-rich foods. Glory Juice Co. is recognized for crafting 100% organic, cold-pressed juices, ready-to-blend smoothies, nut and seed mylks, wellness shots, and plant-based foods that are free from added sugars and preservatives.
The unveiling of Glory Market marks a new chapter for the company, with the recent acquisition of Glory Juice Co. by Pangea Natural Foods Inc., a plant-based food manufacturing company with a distribution network spanning across North America. This new venture and partnership signifies the company's growth and diversification into a broader market that will accommodate a wider selection of grab-and-go foods beyond vegan items, including, but not limited to carnivorous, pescatarian, and vegetarian options.
Glory Market's mission is to promote dietary inclusivity by catering to various food preferences and needs, while continuing to offer signature vegan menu items. This new range of nutrient-dense products will include an array of grab-and-go options, from wholesome salads, and energizing rice bowls, to high-protein meals, and nutritious snacks. Each item is thoughtfully prepared and packaged to ensure the highest quality and freshness, all while emphasizing the importance of nutrition.
"Our mission has always been to provide healthy products that conveniently nourish the body and mind. With Glory Market, we are taking another step towards fulfilling that mission," says Glory Juice Co. CEO Pratap Sandhu.
This rebranding represents a milestone for the company in its dedication and commitment to making health and wellness accessible. This strategic expansion into Glory Market aims to create a welcoming and convenient environment in new communities that encourages consumers to make healthy choices.
Glory Juice Co. has been in operation for over nine years, with three other retail locations in prominent Vancouver neighborhoods, including Coal Harbor, Olympic Village, and Yaletown. Furthermore, Glory Juice has established a network of retail partners across the lower mainland, offering consumers convenient access to a variety of Glory Juice Co's 100% organic, cold-pressed juices. Glory Market White Rock marks the first of many locations to come, as the company plans to expand its reach to new communities.
Pangea Co-Packing Operations
On June 20th, 2023, Pangea announced its new co-packing services for third party food and beverage companies in Canada and the United States. This strategic expansion is in line with Pangea Natural Foods' commitment to supporting the growth and success of the industry by offering a wide range of solutions.
"Pangea is excited to start a new line of business and support smaller businesses in their co-packing needs. We not only co-pack products but also maintain the highest standards in food quality," said Pratap Sandhu, chief executive officer and founder at Pangea Natural Foods.
With its state-of-the-art facility, Pangea Natural Foods is capable of tailoring the production line to cater to a wide range of product requirements. By utilizing its services, companies can devote their attention to brand expansion and complying with regulatory standards, while also enjoying cost savings on packaging, equipment, labor and logistics.
The addition of Pangea Natural Foods' co-packing services offers many benefits to third party companies. By leveraging the company's advanced facility, businesses can take advantage of the following:
- Tailored production line: Pangea Natural Foods can customize the production line to meet specific product requirements, ensuring the highest-quality standards are met while maintaining product integrity and consistency.
- Regulatory compliance: Pangea Natural Foods adheres to strict industry regulations and quality control processes, providing peace of mind to partners that their products meet all necessary regulatory standards.
- Cost-savings: Through co-packing, companies can save on packaging, equipment, labor and logistics expenses. Pangea Natural Foods' efficient production processes and economies of scale enable significant cost reductions for partners.
- Scalability: With the ability to scale production capacity quickly and efficiently, Pangea Natural Foods helps businesses adapt to fluctuating market demands and capitalize on growth opportunities.
Pangea Natural Foods is excited about the future of its co-packing services and the opportunities it brings for both the company and its partners. Pangea Natural Foods looks forward to forging strong partnerships with third party food and beverage companies in British Columbia and across Canada.
Brand Ambassadors and Management
Pangea entered into a one-year agreement with Vancouver Canucks Hockey Team Captain and star defenseman Quinn Hughes as a brand ambassador.
Mr. Hughes played college hockey at the University of Michigan before making his NHL (National Hockey League) debut with the Canucks during the 2018/2019 season. In his rookie season, Mr. Hughes scored eight goals and 45 assists for an impressive total of 53 points in 68 games. Thanks to his incredible performance, he was nominated for the Calder Trophy, which is awarded to the NHL's top rookie.
Pangea Natural Foods is thrilled to embark on this exciting partnership with Mr. Hughes as its esteemed brand ambassador. With his exceptional skills, dedication and passion for the game, Mr. Hughes perfectly embodies the company's commitment to promoting a healthy and natural lifestyle.
Mr. Louie will serve on the company's executive team and will support Pratap Sandhu, the company's chief executive officer. The expanded executive leadership team aims to assist Pangea in building on its market position, growing its retailer footprint, sharpening its supply chain and manufacturing practices, and continuing to leverage its proprietary production processes to launch innovative products.
Mr. Louie is joining the company with over a decade of experience in marketing. Previously, he was the co-founder of AntiSocial Media Solutions, a digital marketing agency with offices in Vancouver, Toronto, Montreal and Los Angeles. He led integrated digital campaigns with award-winning social media strategy and execution, an in-house content production team, influencer and creator strategy, and media buying, all of which spanned many industries. AntiSocial has worked with clients such as Starbucks, 7-Eleven, Fairmont, Netflix, Subway, Cheetos, Riot Games and many more. AntiSocial was acquired in 2019 and, at the time of Louie's exit in 2021, Mr. Louie led the company in key client growth, agency strategy and senior team leadership. AntiSocial had a staff of more than 60 personnel when Mr. Louie departed.
"We are pleased to welcome Daryl to the team," said Mr. Sandhu. "Daryl's depth of knowledge and experience in marketing will enable him to bring insight and build a strong marketing engine at Pangea. Daryl's appointment is in line with Pangea's focused strategy of creating a culture of marketing excellence and we are excited to have Daryl join Pangea on this path."
On February 28th 2023, Pangea engaged Jordan Melville to provide franchising and food-related consulting and advisory services.
Melville's engagement is the second new hire that the Company has made this year, following the appointment of Daryl Louie as Pangea's Chief Marketing Officer earlier this year.
"As we grow and mature as a publicly listed company, we are committed to strengthening our team. We are excited to expand our team by bringing on Jordan," says Pratap Sandhu, the Company's Chief Executive Officer. "Last year we reached many milestones, including the introduction of four new product lines and the launch of Pangea products in over 250 retail outlets. We are looking forward to having Jordan join us and help support our growth plans in order to reach our 2023 goals."
Melville is joining the Company with decades of experience in food manufacturing, distribution and franchising. Previously, he worked with the executive team at the Boston Pizza franchise, providing strategic direction and leading the opening of over 400 locations across North America. Melville is also the Founder of Brandlive Management Group, an award-winning Vancouver based event production company.
Melville will support Sandhu and Pangea's executive leadership team in seeking to achieve the Company's goals of optimizing its supply chain, improving its manufacturing processes, and providing strategic direction on its distribution.
Pangea Natural Products and New Offerings
Throughout 2022 and 2023 Pangea launched exciting new and unique products such as its Pangea Chikken Nuggets, a protein-rich vegan meat alternative.
The Company's vegan Chikken Nuggets are made with three types of pea protein and are free of GMO (genetically modified organism) ingredients, fillers, antibiotics, hormones and bioengineered ingredients. This is the company's second plant-based product after the Pangea Plant-Based Patties.
The global vegan food market is projected to grow from $26.16-billion (U.S.) in 2021 to $61.35-billion (U.S.) in 2028 at a CAGR (compound annual growth rate) of 12.95 per cent in the forecasted period of 2021 to 2028. The global vegan food market is projected to grow from $26.16-billion in 2021 to $61.35-billion in 2028 at a CAGR of 12.95 per cent in the forecast period of 2021 to 2028.
"We are excited to launch another plant-based product given the immense growth that the sector is experiencing globally. Understanding consumer lifestyle and food trends and a commitment to innovation allows our team to continuously introduce new products, such as the Chikken Nuggets, to the market," said Pangea chief executive officer Pratap Sandhu. "The Pangea Chikken Nuggets are the perfect meat alternative because they taste great, they are healthy and are packed with iron and calcium. Plus, each nugget has 21 grams of protein."
Pangea offers a broad portfolio of innovative healthy food products that taste great and are sustainably sourced. Pangea's signature products include the Pangea Plant-Based Patties, Old Fashioned Ghee and Munchie Mix, which are available on the company's website and in over 250 leading national retail food stores across Canada and the United States.
The company manufactures its products in-house at its Vancouver Lower Mainland facility. The company's facility has been approved by both the Canadian Food Inspection Agency and the U.S. Food and Drug Administration.
Pangea's hit sales milestones of over 5,000 units of its Pangea old-fashioned ghee, a grass-fed, organic clarified butter sourced from New Zealand to Save-On-Foods across its Canadian locations within 30 days.
Save-On-Foods is a chain of supermarkets located across Western Canada, owned by the Pattison Food Group. With Save-on-Foods, the company has listed Pangea old-fashioned ghee nationally in approximately 177 stores.
"Our customers are consistently purchasing our products and our brand recognition is growing rapidly," said Pangea chief executive officer Pratap Sandhu. "We're very pleased with the distribution results from our relationship with Save-on-Foods, a well-known and established retailer."
In 2021, the global ghee market reached a value of $45.7-billion (U.S.), and it is expected to reach $68.9- billion (U.S.) by 2027, growing at a CAGR (compound annual growth rate) of 7.18 per cent.
Pangea offers a broad portfolio of innovative healthy food products that taste great and are sustainably sourced. Pangea's signature products include the Pangea plant-based patties, old-fashioned ghee and munchie mix, which are available on the company's website and in over 250 leading national retail food stores across Canada and the United States.
In 2023 Pangea launched its latest product, 100-per-cent locally sourced blueberry juice. This refreshing and nutritious beverage is made with exceptional quality and has a remarkable eight-month shelf life.
"We are excited to introduce our 100-per-cent locally sourced blueberry juice to consumers," said Pratap Sandhu, chief executive officer and founder of Pangea Natural Foods. "Our team has worked diligently to create a product of exceptional quality, and we are proud to support local farmers and communities through sustainable and ethical sourcing practices. We are committed to innovation and sustainability in our product development, aiming to provide nourishing options that benefit both individuals and the planet."
The blueberry juice is cold pressed, resulting in a richer and more nutritious product. In addition, Pangea Natural Foods has partnered with a renowned leader in the field of high- pressure processing (HPP). This process allows for the elimination of harmful pathogens without the need for heat or artificial preservatives. As a result, consumers can enjoy Pangea Natural Foods blueberry juice knowing that it maintains its nutritional integrity while remaining safe for consumption.
Pangea began formulation of a new vegan single-serving pre-workout supplement, in partnership with Superbolt Tea and Blue Ocean Tea Company.
The Company's vegan pre-workout supplement is formulated with vegan honey and packed in a unique packaging, designed for one-handed opening and unit-dose pouring.
"Our customers are going to love this new pre-workout formula that complements our ever- growing portfolio of high-quality products," says Pangea CEO Pratap Sandhu, "We're excited to work with specialists such as Superbolt Tea and Blue Ocean Tea, and to unveil a fantastic vegan-friendly product with unique, easy-to-use packaging."
In 2021, the Global Pre-Workout Supplements Market reached a value of US$15.6 billion, and is expected to reach US$28.7 billion by 2028, growing at a compounded annual growth rate (CAGR) of 9.1%.
Superbolt Tea specializes in innovation in the tea industry with a focus on athletics and health with products made to provide athletes and creatives with a long-lasting, sustainable source of energy that can be consumed before a workout, at the office and anything in between. Every Superbolt Tea order is hand packed at Superbolt's small office in Vancouver, BC, and their products are certified by the California Certified Organic Farmers (CCOF), using 100% biodegradable tea bags.
Blue Ocean Tea has decades of experience in the tea industry and works with many specialty tea brands in North America and Europe, such as Blume and David's Tea, to bring quality products to market. Their 18,000-square-foot facility is located within Canada's largest industrial park, just minutes away from the US-Canada border.
Throughout 2022 and 2023 Pangea signed partnerships with Wholefoods, Save on Foods and Fresh Street market.
"We are very excited about the momentum we have built with a number of airline partners carrying Pangea's Munchie Mix," says Pangea chief executive officer Pratap Sandhu. "The launch of this partnership is yet another way that Pangea aims for its Munchie Mix to become the snack of choice for travelers. We look forward to making Pangea's healthy, GMO-free [genetically modified organisms] products readily available to customers not just in Canada and the United States, but globally."
Mr. Sandhu adds: "The global airline catering business is estimated to be worth $21-billion (U.S.) by 2024 and Pangea is looking forward to playing a role in the industry. Between British Airways, Air Canada and now WestJet, Pangea's Munchie Mix will be available on over 650 airplanes worldwide. For us, this is just the beginning."
"The introduction of Munchie Mix into Pangea's product line is yet another opportunity for us to bring high-quality products to the market. All ingredients are free of GMOs [genetically modified organisms] and packed with anti-oxidants, magnesium, manganese, zinc and vitamin E," says Pangea's chief executive officer, Pratap Sandhu. "Every step we take to make healthy and nutritious products more accessible for consumers is a step in the right direction, and something we constantly strive for at Pangea."
To date, the company offers its other products, the Pangea Plant-Based Patties and Old Fashioned Ghee, through its on-line website and through over 250 retail outlets across Canada and the United States.
About Pangea Natural Foods Inc.
Pangea Natural Foods Inc. is a food manufacturing company focused on manufacturing, co-packing and distributing high-quality plant-based food products across North America.
On Behalf of the Board of Directors
CEO, Corporate Secretary and Director
For further information, please visit the Company's website at www.pangeafood.com or contact:
This news release contains forward–looking statements and forward–looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. More particularly and without limitation, this news release contains forward–looking statements and information relating to the closing of the Acquisition, the conditions to completing the Acquisition, timing and receipt of the applicable regulatory, corporate and third-party approvals and other matters. The forward–looking statements and information are based on certain key expectations and assumptions made by the management of the Company. As a result, there can be no assurance that the proposed Acquisition or related matters will be completed as proposed or at all. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward–looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward–looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to complete the Acquisition as currently proposed or at all, the ability of the Company and Glory Juice to complete its planned future activities and anticipated business plans, the ability of the Company to obtain sufficient financing to fund its business activities and plans, and the Company's ability to obtain the applicable regulatory, corporate and third party approvals of the Acquisition. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, changes in the financial markets and changes in laws, regulations and policies affecting the Company's operations and the Company's limited operating history. Accordingly, readers should not place undue reliance on the forward–looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward– looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward–looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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SOURCE Pangea Natural Foods Inc.