VANCOUVER, British Columbia, June 15, 2021 (GLOBE NEWSWIRE) — Nabati Foods Global Inc. (CSE: MEAL Reserved) (“Nabati Foods” or the “Company”), a plant-based food tech company offering whole, natural, plant-based foods for health-conscious consumers, is announcing that it signed with the Saralex Group, a major food broker. This deal represents Nabati’s first foray into Europe. The company is expected to kick off distribution on the Iberian peninsula in Portugal and Spain.
The Saralex Group are food brokers that serve as manufacturer’s representatives in the grocery and foodservice trade, focused on ethnic and specialty foods.
“Nabati Foods has kept its upward growth trajectory as we’ve diversified our revenue streams from our foodservice, industrial, and retail channels,” Nabati Foods CEO Ahmad Yehya said. “Having recently debuted in Asia, Nabati is now entering the European market with eyes on growing our brand across both continents throughout 2021 and beyond. The Iberian peninsula represents an excellent opportunity for Nabati Foods to gain a solid foothold in Europe in a growing market segment.”
Both Spain and Portugal are seeing an upward trend in plant-based diets. Roughly 10% of Spaniards are vegetarian or vegan according to a consultant report from Latern, The Green Revolution: Understanding the veggie revolution. Meanwhile, Portugal has had a 400% spike in vegetarians from 2007-2017 according to a Nielsen survey amplified by Centro Vegetariano. Notably, in 2017 Portugal became the first country in the world to require a vegan menu option in public buildings (government, schools, universities, hospitals, prisons, etc.)
Nabati Foods products are served across North America as well as in Asia and the British Virgin Islands. All Nabati products are kosher, vegan, egg-free, dairy-free, gluten-free, and made without GMOs or refined sugar.
“Nabati Foods is leading the evolution of food, and this international expansion will only accelerate our momentum,” Yehya said. “Our goal has not changed. We are on a mission to bring people together with foods that are healthy, yet mouthwatering. We believe that you don’t have to sacrifice taste for your health or to support the health of the planet. We look forward to a successful European launch.”
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About Nabati Foods Global Inc.
Nabati Foods Global Inc. is the owner of Nabati Foods Inc. (“Nabati”), a family-founded food tech company offering whole, natural, plant-based, gluten, and soy-free foods for health-conscious consumers. Nabati was founded in 2014 and has four signature product lines including dairy-free cheesecakes, cheese alternatives, and plant-based meats. Nabati products are distributed in Canada and the U.S. through grocery, foodservice, and industrial channels. Learn more: https://invest.nabatifoods.com/
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Disclosure and Caution
Completion of the financing is subject to a number of conditions, including ensuring the financing and listing application are compliant with CSE requirements. The transaction cannot close until the required conditions are satisfied and required approvals are obtained. There can be no assurance that the financing will be completed as proposed or at all. Trading in the securities of the Company should be considered highly speculative – there is no active market for Company’s securities at this time. No regulatory body has reviewed or approved the terms to this financing.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the ability to complete the financing, the ability to satisfy the conditions required and approvals needed to complete the transaction, availability of funds and the results of financing efforts, – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.