Naturally Splendid Enterprises Ltd (CVE:NSP) (OTCPINK:NSPDF) (FRA:50N) continues to grow its client list, saying it had struck an initial C$75,000 purchase order from a Canadian-based company, to provide a selection of plant-based meat replacement products.
The meat-free products will be distributed under the Canadian firm's own private label brand.
READ: Naturally Splendid inks LOI for Canadian manufacturing and distribution rights to Flexitarian Foods’ plant-based products
It comes just days after Naturally Splendid revealed it had signed a letter of intent (LOI) with Australia's Flexitarian Foods, under which it will become Flexitarian’s exclusive manufacturer of an extensive line of plant-based, meat-alternative products for the Canadian market. That letter of intent (LOI) is expected to close by the first week of July 2021.
"We are excited with the opportunity to private label for this Canadian-based company," said Naturally Splendid CEO Craig Goodwin on the newest deal.
"The private label clients we take on will be selected strategically, with the objective being to identify unique opportunities through product development, packaging, as well as specific distribution channels not in competition with our own NATERA Plant Based Foods.
"Historically, Naturally Splendid has balanced our contract manufacturing business with the development and distribution of our own company branded products and this strategy will be executed for producing plant-based entrees as well."
The company said that it will work with the client to "provide plant-based products in unique packaging, designated for specific distribution channels" to include meat alternative, plant-based offerings as well as custom formulated meat-like products.
Founded in 2010, Naturally Splendid runs a Safe Quality Food Level 2 certified food manufacturing facility just outside Vancouver, Canada.
It has established numerous healthy, functional foods under recognized brands such as Natera Sport, Natera Hemp Foods, CHII, Elevate Me and Woods Wild Bar, and most recently Natera Plant Based Foods, a line of plant-based meat alternatives.
Contact the author at giles@proactiveinvestors.com