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Naturally Splendid Announces Prosnack Re-Branding and Purchase Order for National Convenience Store Chain
Author: Anwesha Sengupta  10/07/2018 - 12:17:00

Naturally Splendid (TSXV:NSP) is pleased to announce it 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 ongoing 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, totaled almost $8,000,000 CDN 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, s, Save On Foods, Sobeys, Safeway, IGA, Natures Fare, London Drugs, Thrifty’s, Rexall and many more.

The expansion of our bars and bites business model continues our 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 and a recently commissioned R&D Test Kitchen at Naturally Splendid’s Pitt Meadows facility, widening its  production capabilities, thus creating additional business opportunities.

Naturally Splendid Executive Vice President Alan Maddox 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 C$5 million contract to produce unique bar/snack products in North America for a major food services company as well as the $100,000 CDN purchase order with a renowned National Distributor in Canada for its NATERA® and Elevate Me brands”.

Company CEO Mr. Douglas Mason 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 1990’s 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 $1,000,000 CDN to over $88,000,000 CDN 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 millennials and baby boomers demand 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 USD $6.8 billion by 2023, registering a CAGR (Calculated Annual Growth Rate) of 7%. Energy and nutrition bars occupy almost one third of the snack bar market in the United States, and are consumed widely across the country. The volumetric sales of snack bars are expected to register a CAGR of 2.1% during the forecast period – published by Mordor Intelligence on December 2017.


The post Naturally Splendid Announces Prosnack Re-Branding and Purchase Order for National Convenience Store Chain appeared first on Investing News Network.

Original article: Naturally Splendid Announces Prosnack Re-Branding and Purchase Order for National Convenience Store Chain


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