One of Canada’s leading independent organic grocers and a developer of plant-based foods is excited to announce that it has updated its logo after an extensive review of its branding in anticipation of the Company’s planned store expansion strategy. The new logo has a simplified and distinct bold font that helps to convey the Company’s value proposition and is easy to create and apply to new stores. The symbolism of the downward arrow with a price symbol will be a message carried throughout the store. The Company will start to update the logo on its existing stores, media assets and flyers over the next 6 months.

Matt Lurie, President & CEO of Organic Garage stated, “I am really pleased with the updated logo. We received a lot of interest in our recently stated expansion plans and the volume of proposed sites for new stores is significant. We felt that it was important for us to refine how we communicate to potential new customers and, as the logo is the first thing customers see, we wanted something that would reinforce our value statement. Our real estate team has been inundated with new site submissions and we are carefully reviewing each one to ensure it meets our financial and construction criteria.”

Declares $0.10 per Share Quarterly Cash Dividend, a 43% Increase Over Previous Quarterly Dividend

The company announced that the Board of Directors has declared a quarterly cash dividend of $0.10 per common share, a 43% increase over the Company’s previous quarterly dividend. The dividend will be paid on December 15, 2021, to all stockholders of record at the close of business on November 29, 2021.

Gary will be taking over the role from Christine Gammal. We want to thank Christine for her time at iLevel and wish her well.

Gary is a sales professional who thrives on a challenge with lengthy experience in the Natural and Organic consumer package goods industry. He is a self-motivated team player who begins each task with the end result in mind.

Gary has called on all classes of Natural and Organic trade including Food, Drug, and Mass accounts with many bonafide established relationships with category managers.

Blue Diamond Growers, the world’s leading almond marketer and processor, is pleased to welcome Aubrey Bettencourt as President and CEO of the Almond Alliance of California.  The depth of Bettencourt’s experience will accelerate the heightened advocacy to protect and promote almond farmers and the industry at large.

As agriculture faces increased regulatory and policy demands around climate protection and sustainable production, Bettencourt’s knowledge as a farmer and deep experience in sustainability, natural resource management and federal and state administration will elevate the good work of California almond farmers and the industry.

“The Blue Diamond team looks forward to supporting the continued strong advocacy of the Almond Alliance under Aubrey Bettencourt’s leadership in service and benefit to the California almond industry.  Her extensive background and focus on water supply and quality will be a great asset to our membership and California farmers facing immense water insecurity pressures. We look forward to our continued partnership with the Almond Alliance of California with Aubrey’s leadership.” Mark Jansen, president and CEO, Blue Diamond Growers.

Kemin, a global ingredient manufacturer that strives to sustainably transform the quality of life every day for 80 percent of the world with its products and services, announced its Neumentix™ Phenolic Complex K110-42, a patent-pending spearmint extract containing a proprietary phenolic complex, has been approved by Health Canada, bringing the ingredient for brain health to consumers in Canada.

Health Canada approved Neumentix (Natural Product Number (NPN) 80111201)) for use in helping support cognitive function, sustained attention and working memory.

“We are thrilled to announce the approval of Neumentix for use in the Canadian market,” said Penny Woods, Marketing Director, Kemin Human Nutrition and Health. “The application process for Health Canada involves an extensive review of the efficacy, safety and quality of ingredients. Gaining this approval is a significant milestone that will enable our Canadian customers to have their finished product claims more easily approved when formulated with a full dose of Neumentix and reference to the NPN.”

Neumentix Phenolic Complex K110-42 is derived from patent-pending, non-genetically modified lines of spearmint developed by Kemin plant science experts using traditional plant breeding methods. The ingredient is clinically shown to support focus during the day without disrupting sleep at night. The antioxidant polyphenols in Neumentix promote new neuron growth and support the brain function of working memory, improving the ability to learn, manage information and react. Neumentix provides both cognitive and physical performance benefits and can be formulated into a variety of applications.

“Neumentix has been in the global market for over five years and continues to capture the attention of key brands looking to formulate with a safe, sustainable and scientifically backed ingredient that has cognitive performance benefits – like focus – as well as lasting benefits linking cognition to enhanced physical performance,” said Woods. “We created Neumentix to help support cognitive performance in adults and offer additional benefits to consumers. With the demand for cognitive health products growing worldwide, the Kemin team is incredibly excited to now offer the benefits of Neumentix to consumers in Canada.”

Click here to learn more about the Kemin line of naturally sourced functional ingredients for use in a range of dietary nutrition products, including supplements, beverages and snack foods. Quality bioactives from Kemin are clinically shown to support vision, cognition, immune health and weight management.

On November 14, World Diabetes Day aims to raise awareness for the global health threat posed by diabetes, which affects over 460 million people globally, and to promote coordinated efforts to confront diabetes.

People living with type II diabetes and hypertension face an increased risk of bone fractures. An international team of researchers has used the Canadian Light Source (CLS) at the University of Saskatchewan (USask) to identify a potential bone health therapy that could one day alleviate that problem.

The collaboration between the Bone-Muscle Research Center at the University of Texas at Arlington (BMRC-UTA) and the Colleges of Medicine and Kinesiology at USask explored whether hepatocyte growth factor (HGF) could help reduce the fracture risk for people with type II diabetes. Since 50-85 % of diabetic patients live with hypertension, and both conditions are linked to a higher risk of breaks, this population is particularly vulnerable.

Dr. Kamal Awad, the research scientist at the BMRC-UTA and first author on the study, said “bones protect our internal organs and allow us to move, thus maintaining a healthy bone is crucial especially for people suffering from diabetes and hypertension”.

This study focused on HGF, which is a naturally occurring molecule that is known to regulate cell growth throughout the body. Awad said it is also “associated with bone regeneration, remodelling, and the balance between osteoblast and osteoclast, but what was unknown is how HGF affects the chemical structure of the bone.”

Natasha Boyes, a Ph.D. candidate specializing in cardiovascular disease in the College of Kinesiology at USask and first co-author, is interested in the whole-body effects of cardiovascular disease, and explained remodelling as a change process bones undergo throughout a person’s life.

“Most people think bone should be hard,” she said, “but hard bone can be very brittle. What you want is bone with the right architecture, and bone is always changing. Any stimulus can cause the bone to adjust its structure. For example, if you’re a runner, your bones will change and adapt to better cope with the pounding (biomechanical stress). That’s remodelling.”

To explore how HGF might improve bone health, the researchers did site-specific injections of HGF on diabetic hypertensive rats, then used spectroscopy at the CLS to study the bone chemical structure with a focus on calcium and phosphorous. The team utilized the facility’s specialized SGM, VLS-PGM, and SXRMB beamline facilities for this analysis.

The results of the study, published in the Journal of Materials Research, showed increased insoluble phosphate in the treated bones. This change indicates that HGF may stimulate the bone into a remodelling phase in response to the detrimental effects of diabetes, hypertension, and the drugs used in treatment.

Awad said synchrotron techniques are critical to understanding the exact chemical structure or the coordination of the calcium and phosphate in bones, but further research is required. Dr. Venu Varanasi, lead the corresponding author, indicated that his team is expanding the collaboration with the USask team led by Dr. Corey Tomczak to investigate what exactly HGF does in bone remodelling and how to fine-tune its effects as a potential therapy.

For both Boyes and Awad, the long-term goal is to develop a therapy to reduce bone fracture risk, especially in people with type II diabetes and hypertension. Awad added future HGF therapies may also have a role to play in speeding up the healing process after procedures like bone grafts. 

Curaleaf Holdings, Inc. entered into a definitive agreement to acquire Tryke Companies (“Tryke”) (dba as Reef Dispensaries), a privately held vertically integrated, multi-state cannabis operator, in a cash and stock transaction valued at approximately US$286 million.1 The transaction is expected to close in the second half of 2022, subject to customary approvals and conditions.

Under the terms of the agreement, Curaleaf will pay US$40 million in cash at closing, with a remaining US$75 million in cash to be paid in equal installments on the first, second and third anniversaries of the closing. The stock portion of the transaction, which consists of 17 million subordinate voting shares of Curaleaf (“Curaleaf Shares”), will also be paid in three equal installments on the first, second and third anniversaries of the closing. An incremental earnout of up to 1 million Curaleaf Shares may be paid in 2023 based on the business exceeding certain EBITDA targets for the year 2022.

Founded in Arizona in 2014, Tryke has focused on growing and producing the finest and most consistent cannabis products on the market. The company helped pioneer Nevada’s legal cannabis market from its inception in 2015 and continues to lead the industry in Utah where it has worked since 2019 to help establish the state’s medical cannabis program. Tryke has refined processes to craft an ever-evolving selection of products and brands at multiple price points. The company’s dispensaries have served more than 7.6 million customers, offering a wide variety of in-house and third-party flower, concentrates, vape cartridges, edibles, topicals and CBD products. Upon closing, Curaleaf will assume ownership of Tryke’s extensive portfolio of processing licenses and expects to significantly expand its cultivation capacity from 30,000 square feet to over 80,000 square feet over the next three years.

Boris Jordan, Founder and Executive Chairman of Curaleaf said, “On behalf of the Board of Directors and management team, I look forward to welcoming Tryke to the Curaleaf family as we expand our offerings and operations and bolster our competitive position in three key growth markets. We believe that Tryke represents a unique opportunity to join forces with another industry-leading pioneer that shares Curaleaf’s commitment to legalization and expansion. This strategically and financially compelling transaction will expand our US presence by bringing additional premium products to our consumers and retailers in Nevada, Arizona and Utah, all while yielding meaningful benefits for all of our stakeholders. We expect the acquisition to be immediately accretive to our EBITDA margins and free cash flow generation upon closing.”

“This is a tremendous opportunity for Tryke and, as a combined entity, we will continue to deliver significant value for our consumers and retailers in Arizona, Nevada and Utah,” said Adam Ryan, Chief Executive Officer of Tryke Companies. “As a part of Curaleaf’s growing network of dispensaries, Tryke is excited to bring its full suite of multi-price point products to an expanded base of consumers across the country. We are excited to join forces with the industry leader at such a pivotal moment in the United States’ legalization efforts. We share Curaleaf’s optimism for the future and are excited to become investors alongside the Company’s talented leadership team.”

Compelling Strategic and Financial Benefits

Enhances Curaleaf’s operations in Arizona, Nevada and Utah: Tryke currently owns and operates six heavily trafficked dispensaries under the Reef brand, with two retail stores in Arizona and four in Nevada, including the Phoenix metropolitan area, Las Vegas strip and North Las Vegas. The company’s products are sold in over 50 additional locations across its footprint.

Enriches Curaleaf’s product offerings: Tryke currently offers a wide variety of in-house and third-party flower, concentrates, vape cartridges, edibles, topicals and CBD products at a range of price points. Tryke’s product portfolio is highly complementary to Curaleaf’s, allowing the Company to offer consumers and retailers in Arizona, Nevada and Utah an even broader selection of premium cannabis products.

Improves Curaleaf’s margins and free cash flow generation: Tryke has a strong financial profile, with a history of delivering significant revenue growth and compelling EBITDA margins in excess of 35%. Tryke is expected to record nearly US$110 million in full-year 2021 revenue. Curaleaf expects the acquisition will be immediately accretive to the Company’s EBITDA margins and free cash flow generation.

The closing of the transaction is expected to occur in the second half of 2022 subject to customary closing conditions, including the receipt of approval from the applicable state regulators, including the Nevada Cannabis Compliance Board.

According to Euromonitor International, the global alternative protein market has reached nearly $40 billion in 2021, which is up from under $35 billion in 2016, according to London-based Euromonitor International, which projects the value to be about $45 billion in 2025. In the USA, the category is almost $5 billion for this year, compared to $3 billion in 2016. Experts estimate that it should go over $6 billion by the end of 2021.

Younger consumers tend to buy more alternative protein products, said Tom Rees, food and nutrition industry manager for Euromonitor International. He pointed out that among consumers of the ages 25 to 44, under 30% said they had never eaten meat alternatives. The percentage for those over 60 was more than 50%.

This year New Hope Network conducted an online consumer survey that included more than 1,300 consumers of the ages 16 to 70. Plant-based category skewed toward college degree holder consumers with higher incomes. Whites, Blacks, Asians, multiracial consumers, Native Americans and Native Alaskans all bought plant-based items.

Plant-based consumers are more likely to shop in natural stores, however from time to time in conventional stores.

The lack of a legal definition of the category could cause legal challenges, including class-action lawsuits, for food and beverage companies, said Shahin O. Rothermel, counsel for Venable LLP, Washington.

“Whenever there is any type of ambiguity in an industry, we see that as a source of litigation,” she said. “There’s not really a meaning, and therefore it can be interpreted in all these different ways.”

The Vegetarian Resources Group, Baltimore, conducted a survey and found 20% of respondents said they thought a plant-based diet meant vegetarian. Other answers were vegan at 17%, vegetarian or vegan diets composed of whole foods at 18%, a whole foods diet that could include animal products at 13% and did not know what a plant-based diet was at 24%.

Unlike meat proteins, plant proteins are not “complete proteins” in that they do not have the same nutritional qualities, including all the different kinds of amino acids. A product may have a certain amount of protein, say 15 grams per serving, but that means little if the protein falls short in digestibility and bioavailability, Dr. Shelke said. In the future, the plant-protein category may face requirements of a PDCAAS (protein digestibility-corrected amino acid score) or a DIAAS (digestible indispensable amino acid score).

Source: food business news