Feel Foods Ltd. signs agreement to acquire Black Sheep Vegan Cheeze
The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2 billion by 2027.
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VANCOUVER — FEEL FOODS LTD. announces that it has entered into a share exchange agreement with Black Sheep Vegan Cheeze Company Corp., a British Columbia vegan cheese company, and the shareholders of Black Sheep to acquire all of the issued and outstanding common shares of Black Sheep.
Black Sheep was co-founded in 2017 by a vegan husband and wife team from Armstrong, British Columbia. A variety of 10 unique vegan dairy substitute products are currently available in over 30 retail locations, including select locations at IGA, Nesters The Very Good Butchers, Pomme natural, Natures Fare, Vegan Supply and many other retailers across 16 cities throughout BC as well as online and in person at farmers markets. Feel Foods intends to finance and support a North America wide expansion of this brand while working closely with the Black Sheep founders to develop additional products for the plant-based community.
The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2 billion by 2027. The growth of this market is mainly attributed to the factors such as increasing incidence of intolerance for animal protein, growing urbanization with new consumer aspirations, increasing vegan population, and significant venture investments in this sector.
Feel Foods CEO David Greenway states: “The acquisition of Black Sheep is exciting for the growing Feel Foods family as we continue to increase our footprint in plant-based foods, thereby reducing our ecological footprint on the Planet. We look forward to working closely with Black Sheep and its founding team to expand and develop excellent new products and make them available to everybody looking to enjoy plant-based foods. We are on a mission to transform plant-based food, with no compromises on taste or quality while reducing global environmental impact. Together, by shifting our collective approach to food, we can improve the health of our World, the lives of animals, and preserve valuable resources for generations to come.”
Black Sheep offers non-dairy cheese alternatives so that people can get the benefits for their health, the environment and the animals.