VANCOUVER, British Columbia, Nov. 5, 2015 (GLOBE NEWSWIRE) -- Global Gardens Group Inc. (the "Company") (CSE:VGM) is pleased to announce the Canadian launch of its proprietary "Veggemo" non-dairy vegetable based beverage line, that was recently named Grocery top 10 innovative product of the year by Grocery Innovation Canada.
Global Gardens Group CEO Rob Harrison states: "After over 4 years of consumer market research, product and brand development, testing, packaging and plant trials, we are so excited to bring Veggemo to the Canadian marketplace. The reception we've received from the retail community so far has been exceptional. Based on this retailer feedback, our internal estimates are to be in approximately 1800 stores by the end of Q1 2016. To date, we've received purchase orders to support Veggemo on store shelves in popular banners like Calgary Coop, IGA Market Place, Metro Quebec, Save-On-Foods, Price Smart and Urban Fare."
Mr. Harrison continues: "Having already received purchase orders from some of the top retailers in Canada is a huge step for us in the right direction but it's only the beginning. The launch of our new Veggemo in Canada is the first step in the Company's comprehensive North American rollout marketing strategy. The non-dairy beverage industry is over a $2 billion market in North America alone and has been the fastest growing category in Canada throughout 2013 and 2014, with the global market projected to reach $20 billion by 2020. Our goal is to become a global household brand name and excite consumers to make healthy choices from the inside-out with the world's first vegetable based alternative dairy product. The company is only at its infancy and we're excited to showcase our growth over the coming months."
About Veggemo
The Veggemo product line is the first and only non-dairy beverage to originate from vegetables and is Global Garden Group's (VGM) showcase product for the dairy-free industry. Veggemo is available in 3 variants: Original, Unsweetened and Vanilla flavors. The Dairy-free industry continues to witness dynamic growth led by the development of plant-based food and beverages.
Driven by shifting consumer behavior Health & Wellness food and beverage companies have become a popular acquisition target for many multi-national corporations. Most recently Vega, the provider of plant-based shakes and supplements, was successfully sold to WhiteWave Foods for $550 million representing a 5.5x revenue multiple.
About Global Gardens Group
Global Gardens Group is comprised of a highly experienced management team and board that have provided senior leadership to many consumer brands including: Neilson Dairy, Ben & Jerry's and Haagen Dazs ice cream, Gillette, P&G, Cadbury Schweppes, Sunkist, Dole, Primo pasta and Lululemon.
Cautionary Statement:
Certain disclosure in this release, including statements regarding the terms of the private placement, the possible completion of the private placement and the intended use of proceeds from the private placement, may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain any required regulatory approvals to complete the Company's planned private placement and that the Company is able to complete the private placement. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks are detailed from time to time in the Company's filings with the appropriate securities commissions, and may include, among others, that the private placement will not complete, market conditions, and delays in obtaining or failure to obtain required regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.