Skip to content
April 18, 2024

Equity.Guru

Investment information for the new generation

Search

Modern Plant Based Foods (MEAT.C) widens their distribution net with Gordon Food Services

Modern Plant Based Foods (MEAT.C) line of meat alternative products, Modern Meat, has expanded their distribution reach to the majority of restaurants across the nation through a deal with Gordon Food Services (GFS).

 

Listed products include Modern crabless cakes, burgers, meatballs and gyozas, giving restaurants the option of adding meat alternatives to their menus.

“We feel that this distribution partnership with GFS will play a significant role in advancing national expansion. By adding GFS to our distribution network, this allows a whole new channel of sales. The vast majority of restaurants nationally order from GFS, which in turn will increase our exposure significantly. As consumers are prioritizing health and wellness, they are moving towards healthier diets. Like us, GFS is aware of the growing consumer trend around plant-based meats and want to offer their food service customers trusted quality products like Modern Meat,” said Tara Haddad, founder and chief executive officer of Modern Plant Based Foods.

GFS has been around for 120 years and built their reputation around its commitment to improvement, innovation and growth. Their headquarters is in Wyoming, Michigan, and they carry an average of 10,000 SKUs in each distribution centre, delivering food to over 100,000 customers across Canada and the United States through its 25 distribution centres.

 

Modern Plant Based Foods is a Vancouver, B.C. Based food company offering plant-based options, including meat and diary-free alternatives, soups and vegan snacks. They’ve spread their products out to select restaurants and retailers across Canada, including their own Vancouver-based wellness bars.

“In early 2020, we shifted our focus from food service to retail as COVID-19 forced restaurants to shutter. Now with restrictions lifting across North America, we can turn our attention to this very important category, which offers incredible revenue potential,” said Haddad.

Plant-based proteins have been showing up on menus at an increasing rate. The NPD Group discovered that shipments of said proteins from distributors to restaurants has increased by 60% in April, 2021, compared to the previous month. It’s not much of a surprise—the global Plant Protein Market Size was worth USD$17,222.9 million in 2019 and is projected to be worth $27,965.9 million by 2027, according to the Insight Partners, and anticipated to grow at a CAGR of 6.2% during the period.

—Joseph Morton

Related Posts

More on

Leave a Reply

Your email address will not be published. Required fields are marked *