Global Gardens Group-- Revenue More Than Doubles at +110%
VANCOUVER, May 2, 2018 /PRNewswire/ - GLOBAL GARDENS GROUP INC. (THE "COMPANY") (TSXV: VGM) is pleased to announce that the company projects its year-to-date sales revenue to have increased approximately 110% vs prior year. Full and final second quarter and year-to-date results will be reported in late May.
"Our growth continues to progress quarter after quarter" states Rob Harrison President and CEO, Global Gardens Group Inc. Mr. Harrison adds, "Demand for Veggemo continues to grow. This growth has been fuelled by customer demand and increased brand awareness. We have invested into three critical marketing platforms to reach targeted consumers where they are. This includes investment into social and digital media, targeted sampling and at key consumer and industry trade shows in the U.S., Canada and China."
Mr. Harrison also emphasises that these estimated sales numbers represent the Veggemo shelf stable products sold in retail stores and through various e-commerce platforms only and this segment is approximately 20% of the overall non-dairy beverage category volume. The refrigerated product segment sold in the dairy cases of grocery stores represents about 80% of category volume and Global Gardens Group is targeting its Veggemo launch in this segment in early 2019.
Today Veggemo can be found in approximately 5000 retail outlets.
About Veggemo
The Veggemo product line is the non-dairy milk originating from vegetables and is Global Gardens Group's (VGM) showcase product for the dairy-free industry. Veggemo is available in a non-refrigerated shelf stable format in 3 flavors: Original, Unsweetened and Vanilla. Veggemo competes with Silk (Whitewave), Almond Breeze (Blue Diamond), Hain Celestial, Pacific Foods, Ripple Foods, Califia Farms, amongst others. The dairy-free industry continues to witness dynamic growth led by the development of, and the consumer shift to, plant-based food and beverages.
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 and financial institutions including: Neilson Dairy, Ben & Jerry's and Haagen Dazs ice cream, Gillette, P&G, Cadbury Schweppes, Sunkist, Primo Pasta, Tropicana, Sunny Delight, Price Waterhouse Coopers, Desjardins Securities Inc., Orion Securities Inc., Vengate Capital, HSBC Securities Inc. and Gordon Capital.
Cautionary Statement:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved". Forward-looking information includes, but is not limited to the projected increases in the Company's revenue for the periods indicated in this press release. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, revenue from the sale of the Company's Veggemo product for the periods indicated in this press release may not increase as currently anticipated, or at all. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions that the Company will be able to continue to generate revenue from the sale of its Veggemo product as currently anticipated. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. This news release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about the Company's anticipated revenue, which is subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraphs. FOFI contained in this news release was made as of the date of this news release and was provided for the purpose of providing further information about the Company's anticipated future business operations. The Company disclaims any intention or obligation to update or revise any FOFI contained in this press release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.
SOURCE Global Gardens Group Inc.
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