Naturally Splendid Enterprises Ltd. (TSX-V:NSP, OTC:NSPDF) has announced that Denny's Restaurants has renewed its agreement to provide Plantein plant-based Nuggets and Crumbed Tenders at all its corporate and participating franchise locations across Canada.
In a statement, Naturally Splendid executive vice president Bryan Carson said: "In addition to renewing our agreement, we are very excited to report that Denny's and Naturally Splendid have begun discussions regarding adding additional Plantein plant-based products to their menu. Having Denny's renew with us and considering additional items shows that their customer base enjoys eating our products, and we look forward to continuing to provide our delicious plant-based entrees to this iconic restaurant chain."
According to reports, plant-based meat alternative sales continue to be strong, increasing 74% in the past three years, outpacing the growth of conventional meat by almost three times. This surge in sales can be attributed for many reasons including consumers' environmental and health concerns, the company noted.
READ: Naturally Splendid Enterprises reveals extensive distribution network for its Plantein line of plant-based foods
Naturally Splendid CEO, J. Craig Goodwin commented: "Through the course of the pandemic, sales of conventional meat and poultry have been impacted by supply chain disruptions and escalating prices, pushing consumers and operators to seek alternative proteins. Foodservice providers are meeting consumer's demand for plant-based foods by partnering with brands like Plantein to provide a wide assortment of selections making it easier than ever to choose plant-based foods as part of their diet. We could not be more pleased than to be partnering with Denny's in this growing category."
Naturally Splendid is a plant-based food manufacturing and technology company that produces and distributes nutritious and delicious plant-based commodity products.
Founded in 2010, the company operates a certified food manufacturing facility located just outside Vancouver, British Columbia, focusing on producing an extensive range of plant-based entrees.
Naturally Splendid has an exclusive 10-year manufacturing and distribution agreement for Canada with a division of Australia's largest plant-based food manufacturer, Flexitarian Foods Pty Ltd.
In addition to producing the company's own branded products, Naturally Splendid provides contract manufacturing services and private labelling for a variety of nutritional plant-based food products destined for multiple distribution channels.
The company has established healthy, functional foods under brands such as Natera Sport, Natera Hemp Foods, CHII, Elevate Me and Woods Wild Bar. The company launched Plantein Plant-Based Foods, a line of delicious plant-based meat alternatives for the rapidly growing plant-based market segment.
Naturally Splendid has reached an agreement with Biologic to terminate the agreement with Plasm Pharmaceutical and is negotiating a compensation package for work done to date pursuing a potential treatment for COVID-19 with the target drug Cavaltinib.
The company has also developed proprietary technologies for the extraction of healthy omega 3 and 6 oils, as well as a protein concentrate from hemp.
Contact the author at jon.hopkins@proactiveinvestors.com