Naturally Splendid Enterprises Ltd. (TSX-V:NSP, OTC:NSPDF) said it has reached an agreement for the exclusive use in Canada of Flexitarian Foods Pty Ltd’s Plantein trademark.
The popular Plantein brand was first launched in Australia and is now being expanded globally, including the European Union (EU), the United Arab Emirates (UAE) and now in Canada.
The deal follows an agreement between Naturally Splendid and Flexitarian Foods signed in August last year, whereby Naturally Splendid became the exclusive Canadian manufacturer and distributor of a range of plant-based products for an initial 10-year term with a 10-year renewable term.
"We are pleased to extend our existing business relationship with Flexitarian Foods to market the Plantein brand here in Canada, building on the growing presence of the Plantein trademark,” said Naturally Splendid CEO J Craig Goodwin in a statement.
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“This latest strategic move to market Plantein in Canada, in addition to being the exclusive manufacturer and distributor, is pivotal for the company. We look forward to delivering these delicious plant-based offerings to a broad range of foodservice and retail clients through our existing distribution network," Goodwin added.
Naturally Splendid initially launched a line of plant-based entrees, under the NATERA brand in Canada. Through strategic discussions with Flexitarian Foods, it has been determined that the opportunity to capitalize on the momentum that the Plantein brand has gained in Australia, provides multiple benefits for both companies, including increased exposure for the brand.
Flexitarian Foods managing director Evan Tsioukis commented: "We have grown the Plantein brand to be one of Australia's most popular plant-based choices. We are excited to continue expanding our business relationship with Naturally Splendid and will be incorporating many of the same strategies in Canada, that have made the Plantein brand a success in Australia."
Naturally Splendid said it has launched a website specifically for the Plantein brand, which can be found at www.plantein.ca.
It will initially stock eight stock keeping units (SKUs) under the Plantein trademark, including a Plant-Based Burger, Crunchy Burger, Crumbed Tenders, Sweet Chili Tenders, Nuggets, Schnitzel (cutlet), Garlic Kiev, and a Phishy Filet.
These existing SKUs, plus additional plant-based entrees, will be manufactured in Naturally Splendid's existing facility in Pitt Meadows, BC once new manufacturing lines are received and facility upgrades are completed.
As previously announced, Naturally Splendid has developed a distribution network covering Canada coast to coast. This network of distributors provides access to thousands of clients across most every distribution channel, including chain and independent retail stores, chain restaurants and individual locations, to which the Plantein brand will be introduced to.
Contact the author at jon.hopkins@proactiveinvestors.com