06:34:24 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Else Nutrition Holdings Inc
Symbol BABY
Shares Issued 138,823,793
Close 2024-03-11 C$ 0.265
Market Cap C$ 36,788,305
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Else Nutrition signs agreement with powder manufacturer

2024-03-11 10:35 ET - News Release

Ms. Hamutal Yitzhak reports

ELSE NUTRITION SIGNS A PIONEERING POWDER MANUFACTURING AGREEMENT

Else Nutrition Holdings Inc. has signed a landmark agreement with a premier U.S.-based powder manufacturer, which is expected to reduce the company's manufacturing costs by 50 per cent as well as secure essential powder production capacity to meet the company's growing demand for its toddler and kids nutritional powder products through at least the end of 2025. In addition, this production facility utilizes a breakthrough, low-heat manufacturing process designed to better preserve the powder's nutrient content and to improve the solubility and texture of the company's powder products.

Hamutal Yitzhak, co-founder and chief executive officer of Else Nutrition, commented: "This agreement is transformative for our company as it dramatically reduces our COGS [cost of goods sold] and improves our margins, allowing us to better compete in the market. Equally important, this agreement will help ensure an adequate, consistent and uninterrupted powder supply to support our projected growth. Specifically, we see a strong on-line sales uptake while we continue to expand our retail network adding new grocery chains and superstores across the U.S. and Canada. By growing revenues, while driving operational efficiency across our supply chain and gaining economies of scale, we are well positioned to maximize returns for our investors."

"In addition to the economic and supply benefits of this agreement, this facility allows us to implement new processes designed to better preserve the nutritional content of our products. Traditional powder manufacturers utilize a high-heat, high-energy process, which may compromise product integrity. The new low-heat method not only better retains vital nutrients but also enhances the solubility and texture of the powder, setting a new standard for innovation. We believe this agreement further illustrates our ongoing commitment to offering the highest-quality products available in the market. As a result, Else is establishing itself as a leader in the plant powder-based nutritional products market," concluded Ms. Yitzhak.

About Else Nutrition Holdings Inc.

Else Nutrition Holdings is a food and nutrition company in the international expansion stage focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children and adults. Its revolutionary plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formulas. Since launching its plant-based complete nutrition for toddlers, made of whole foods, almonds, buckwheat and tapioca, the brand has received thousands of powerful testimonials and reviews from parents, gained national retailer support, and achieved rapid sales growth.

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