Eat Beyond Portfolio Company Nabati is Changing the Game for Plant-Based, Non-Dairy Cheese Products
Dec 22, 2020, 06:00 ET
VANCOUVER, BC and EDMONTON, AB, Dec. 22, 2020 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company, Nabati Foods Inc. ("Nabati"), has gained a listing for its first chain of supermarkets in the United States, Food Bazaar Supermarket, with the support of KeHE Distributors. The chain has 29 stores in New York, New Jersey, and Connecticut. Nabati's dairy-free cheesecakes are currently listed in 4 of their 29 stores.
Edmonton-based Nabati offers healthy, plant-based products that are distributed throughout the North American Market. All products are certified gluten-free, dairy-free, egg-free, refined sugar-free, non-GMO, certified kosher, and certified vegan.
Nabati's dairy-free cheesecakes are in over 120 independent stores across the U.S. Sales of Nabati's dairy-free cheesecakes and Nabati Cheeze have increased by 66% in the past year.
"What we hear from the market is that our dairy-free cheesecakes are really unrivaled. There is nothing else on the market quite like these," said Ahmad Yehya, CEO of Nabati. "We already have a month-long production queue for all of our products, and we are rushing to get our second facility up and running to allow us to process multiple product lines simultaneously and increase production capacity significantly."
Nabati has recently expanded its distribution channel mix to include e-commerce and industrial sales, rounding out its already healthy sales via grocery and foodservice. Industrial sales will enable third party consumer packaged goods companies to use Nabati Cheeze as an ingredient.
"We created these products to bridge the gap between plant-based cheese and dairy cheese; we weren't happy with what was already available in the market because it felt like a compromise," said Ahmad Yehya, CEO of Nabati. "We wanted to create something that can directly compete with dairy cheese. It is designed to melt and feel the same, and we even made the packaging consistent with dairy cheese, offering a 320-gram package rather than a 200-gram package that we see other plant-based cheese brands offering."
Nabati will be also launching cheese slices in 2021, for which there is already market demand.
"Something that we have heard from so many of the successful entrepreneurs in this space is that if you really want people to switch to plant-based foods, you need to make something that is as good or better than the legacy product," said Patrick Morris, CEO of Eat Beyond. "Nabati has done that - they have refused to compromise on taste and it is paying off."
Nabati Mac and Cheeze, the perfect holiday side dish: https://youtu.be/vZTk01kmoHw
Eat Beyond is also pleased to announce the launch of its updated website: https://eatbeyondglobal.com/
About Eat Beyond Global Holdings
Eat Beyond Global Holdings Inc. ("Eat Beyond") (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/
Find Eat Beyond on Social Media on LinkedIn, Instagram, Twitter and Facebook
SOURCE Eat Beyond Global Holdings Inc.
