Eat Beyond Portfolio Company good natured® Posts Strong First Quarter - 05/04/2021 9:00:00 AM
VANCOUVER, BC, May 4, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTC: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company good natured® (TSXV: GDNP) achieved a 160 percent increase in revenue for the first quarter of 2021.
From January to March 2021, good natured® reported $8 million in revenue with gross margins anticipated to reach between 36 and 38 percent.
Founded in 2006, good natured® offers nearly 400 different products and services. It is one of the largest continental providers of environmentally friendly products made without petroleum and free from BPAs, phthalates, and other chemicals of concern. good natured® enables businesses and consumers to easily and affordably reduce fossil fuel usage and make smarter, more sustainable choices.
"We were drawn to good natured® because their main objective is to significantly reduce the use of petroleum-based plastics by providing plant-based packaging options to consumer goods businesses in the food space," Eat Beyond CEO Patrick Morris said. "good natured® is positioned perfectly to fulfill the growing market demand for eco-friendly options, especially given the company's flexible and scalable supply chain."
Notably, good natured® has nine manufacturing facilities and an impressive list of over 500 recurring business customers. It also exceeds 20,000 direct-to-consumer sales annually across the United States and Canada with a compound annual growth rate (CAGR) of 153 percent over the last six years.
"Eat Beyond remains bullish on its good natured® investment given both its growth history and trajectory," Morris said. "The fragmented nature of the fast-moving consumer goods market means that a company like good natured® is in a great position to continue to expand its revenue streams."
