The Vegetarian Butcher continues to accelerate expansion plans across British Columbia
Vancouver, British Columbia – November 23, 2021 / Globe Newswire / – Billy Goat Brands Ltd. (“GOAT” or the “Company”) (CSE: GOAT), a venture capital platform focused on identifying, sponsoring and incubating environmental, social and governance (“ESG”) focused companies in the ocean economy, is pleased to announce that GOAT’s portfolio company, The Vegetarian Butcher (“TVB”), has begun the permitting process in order to open its third retail location (“Third Location”) in the first quarter of 2022, subject to municipal approvals, which will be situated in South Surrey of the Greater Vancouver Area of British Columbia. Pending the receipt of municipal permits, the Third Location is planned to be located at 1431 Johnston Street, to be approximately 830 square feet in size, and is expected to benefit from both a high rate of foot and vehicle traffic. TVB is a bricks-and-mortar grocery concept with two other locations in Kelowna and Vancouver, British Columbia.
The Third Location was selected based on being regionally bounded by the Pacific Ocean to the west and the United States to the south. South Surrey and neighbouring White Rock have a rich and diverse history, are known for their beaches, and are home to unique neighborhoods such as Crescent Beach and Grandview Heights. According to the City of Surrey’s most recent census data, the population has grown by 12%, of which 42% is represented by Millennials, and the average household income is in excess of $115,000. Millennials report a greater willingness to pay more for products with ingredients that are sustainable, environmentally friendly, organic or natural, or socially responsible products, based on 2018 Nielsen data. Also, the local population’s appetite for healthy food has been on the rise with many vegan and vegetarian-friendly restaurants and grocers opening in South Surrey and White Rock over the last several years.
The Third Location is part of TVB’s plan to open 36 locations nationwide over the next three years. TVB is working to become the number one plant-based meat retailer in Canada, and the business also has future plans to include the sale of franchise opportunities. TVB aims to provide meat alternatives not only to vegetarians and vegans, but also to other health-conscious consumers. As TVB accelerates its near-term growth rate, the business expects to open its subsequent stores
to the Third Location in Squamish, Whistler, North Vancouver, and West Vancouver, British Columbia. Billy Goat holds a 12.4% interest in TVB and is committed to providing expansion capital and guidance to optimize inventory, marketing initiatives and operating systems to create the best experience for TVB’s customers.
“Our next location in South Surrey is positioned in one of the most exciting and high growth areas of the province,” said Blair Lowther, Director and CEO of The Vegetarian Butcher. “This diverse Greater Vancouver Area community and its vibrant neighborhoods offer an attractive opportunity for TBV’s retail business. We hold quality above all else, and are tailoring our product line for local consumers to provide a one-stop shop for plant-based meat alternatives. We look forward to opening other new locations in the near future, after the launch and scaling-up of this exciting new South Surrey store,” added Mr. Lowther.
“We are thrilled to continue supporting The Vegetarian Butcher’s growth and vision to be the number one plant-based meat company in Canada,” said Tony Harris, Chairman and CEO of Billy Goat Brands. “At Billy Goat, we offer investors a diversified exposure to growing companies with environmental, social and governance values. We are constantly looking at ways to invest in the blue economy, plant-based food businesses and other sustainability-driven opportunities. Billy Goat is well positioned to identify, invest in and incubate early-stage companies while providing ongoing capital markets advisory services and liquidity event planning to its investee businesses,” added Mr. Harris.
For more information about GOAT’s investment in TVB, please visit the following web page: https://billygoatbrands.com/investments/the-vegetarian-butcher/
ABOUT BILLY GOAT BRANDS
Billy Goat Brands is a venture capital platform focused on investing in high-potential companies operating in the ocean economy. It intends to accomplish these goals through the identification of and investment in the securities of private businesses that are involved in the food and beverage industry, with a focus on: (i) plant-based protein, (ii) functional foods, (iii) food technology, and (iv) fermented foods. The Company plans to generate returns on its investments through various outcomes, including but not limited to go-public transactions, mergers or acquisitions, and the other liquidity events of its investee companies or projects. The paramount goal of Billy Goat Brands will be to generate maximum returns from its investments in a manner consistent with its environmental, social and governance values.
For more information about the Company, please visit https://billygoatbrands.com/. Its final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on the Company’s profile page on SEDAR at www.sedar.com.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
On behalf of:
Billy Goat Brands Ltd.
Tony Harris, CEO & Chairman
Tel: (778) 222-8221
For further information, please contact:
Tel: 1-833-4-GOAT-IR (1-833-446-2847)
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