21:49:45 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Naturally Splendid Enterprises Ltd
Symbol NSP
Shares Issued 97,970,490
Close 2018-07-10 C$ 0.175
Market Cap C$ 17,144,836
Recent Sedar Documents

Naturally to launch The Bar Makers website July 16

2018-07-10 09:11 ET - News Release

Mr. Douglas Mason reports

NATURALLY SPLENDID ANNOUNCES PROSNACK RE-BRANDING AND PURCHASE ORDER FOR NATIONAL CONVENIENCE STORE CHAIN

Naturally Splendid Enterprises Ltd. has restructured and rebranded its subsidiary, Prosnack Natural Foods Inc., a strategic acquisition made in October, 2017, to enhance the company's lifestyle and healthy food division. The subsidiary will now be named The Bar Makers. The new client-friendly, interactive website will be launched on July 16, 2018.

The Bar Makers will leverage and build on the reputation that Prosnack has earned developing, manufacturing, and private labelling nutritional bars and bites for regional, international and global clients. A unique feature of Prosnack was its continuing success strategy to private label for major retailers in North America and co-pack for other manufacturers globally. Prosnack's successful Elevate Me product line, along with its private label clients, totalled almost $8-million in sales over the past four years, and will continue to be a key focus as the company rolls out expansion plans and assigns additional resources to assist in further growth.

Prosnack's innovative Elevate Me brand focuses on lifestyle and healthy meal replacement products that include energy bars and bites that are currently distributed throughout North America. The Elevate Me brand can be found in over 1,500 retail stores, including major retailers such as Metro, Whole Foods, Save On Foods, Sobeys, Safeway, IGA, Natures Fare, London Drugs, Thrifty's and Rexall.

The expansion of the company's bars-and-bites business model continues its strategy to gain market share in the healthy food sector retail markets. It is believed that upcoming changes to marijuana and hemp regulations under Bill C-45 will only increase opportunities for The Bar Makers (as cannabinoid-fortified products are allowed over time).

The Bar Makers will be able to take advantage of the recent acquisition of additional manufacturing equipment, as well as a recently commissioned research and development test kitchen at Naturally Splendid's Pitt Meadows facility, widening its production capabilities and creating additional business opportunities.

Alan Maddox, Naturally Splendid's executive vice-president, states: "With the expanded R&D and manufacturing capabilities, the company is positioned as an innovator in the bar market. The investment in R&D and manufacturing is already paying dividends. Most recently, we have secured a $75,000 purchase order from another private label client who is launching in a national convenience store chain that has over 500 locations in Canada. This most recent client is in addition to the recent $5-million contract to produce unique bar/snack products in North America for a major food services company, as well as the $100,000 purchase order with a renowned national distributor in Canada for its Natera and Elevate Me brands."

Douglas Mason, chief executive officer of Naturally Splendid Enterprises, states: "Alan has a successful track record in developing new business in roles such as director of international sales for McCain Foods, where he was responsible for overseeing sales development in over 70 countries around the world, and as president of Sepp's Food Group in the early 1990s, where he was instrumental in developing the company into one of the leading natural organic frozen breakfast food manufacturers in North America, growing sales from $1-million to over $88-million annually."

Rapidly growing snack market

The global snack bar market is expected to grow significantly over the coming years (according to MarketResearch), driven by both the demand of millennials and baby boomers for healthy daily snacks to support nutrition and wellness. In addition, there is rising demand for vegan snack bars from consumers who lead a vegan lifestyle that opt for healthy substitutes for meat, dairy and other conventional protein sources.

The United States snack bar market is estimated to be valued at $6.8-billion (U.S.) by 2023, registering a CAGR (calculated annual growth rate) of 7 per cent. Energy and nutrition bars occupy almost one-third of the snack bar market in the U.S. and are consumed widely across the country. The volumetric sales of snack bars are expected to register a CAGR of 2.1 per cent during the forecast period (published by Mordor Intelligence in December, 2017).

About Naturally Splendid Enterprises Ltd.

Naturally Splendid is a biotechnology and consumer products company that is developing, producing, commercializing and licensing an entirely new generation of plant-derived, bioactive ingredients, nutrient dense foods and related products. Naturally Splendid is building an expanding portfolio of patents (issued and pending) and proprietary intellectual property focused on the commercial uses of industrial hemp and non-psychoactive cannabinoid compounds in a broad spectrum of applications.

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