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YUMY CANDY ANNOUNCES PARTNERSHIP WITH SUNGIVEN FOODS SUPERMARKET CHAIN WITH OVER 200 STORES AND MINIMUM ORDER COMMITMENT OF 155,000 UNITS
News provided byYumy Bear Goods Inc.
Jul 01, 2022, 4:02 PM ET
VANCOUVER, BC, July 1, 2022 /PRNewswire/ - The Yumy Candy Company Inc., (CSE: TYUM) ("Yumy" or the "Company") Canada's first publicly traded low sugar, plant-based confectionery company, is pleased to announce its partnership with Sungiven Foods, a top-quality large Asian conglomerate supermarket chain with more than 200 stores and over 3,000 employees worldwide. The partnership will consist of a co-branded line of Yumy Candy products, which will specifically target Sungiven Foods valued Asian clientele. Yumy will manage all aspects of the supply chain and production of the products, with Sungiven managing the distribution to their locations and sales.
Sungiven Foods launched in the North American market after achieving tremendous success in China, with over 200 locations worldwide Sungiven Foods is committed to serving Asians of all generations and all customers who love enjoying and cooking healthy Asian cuisine. They are focused on "more natural, less processed, and fewer additives" products, while advocating for local, organic, and healthy foods. Sungiven Foods offers a full range of healthy foods, with thousands of globally sourced, and affordable private-label products — including fresh fruits from around the world, and organic vegetables from Canada and Central America. In Metro Vancouver, Sungiven Foods opened nine locations with plans to expand to 20 stores in Canada, along with a simultaneous expansion into the U.S. market. Sungiven Foods has leveraged its global supply chain resources to further grow its wholesale channels and global import and export business, while actively developing an e-commerce platform. Sungiven has various white label brands, which they prioritize through their wholesale channels. Including selling their own products within Canada, as well as distributing and selling to other local markets and retailers, allowing the business to position themselves in all aspects of food industry. Sungiven also manages import/export of products between Canada and Asia.
Yumy has confirmed production capabilities to ensure volumes and quotas can be fulfilled, moving forward with global expansion objectives. "We are proud to announce our partnership with Sungiven Foods, adding another large-scale global customer we can count on contributing to the company's bottom line. Having Sungiven Foods stand behind our project in Asia gives our company a new level of credibility and helps us moving forward with our global expansion. We aim to see Yumy entering more strategic partnerships like Sungiven in the near future." States Cassidy McCord, Director of The Yumy Candy Company.
The co-branded items will consist of Yumy's signature Strawberry Kiwi, Peach and Sour Watermelon gummy bears in a 50g bag, as a custom 24-pack variety. The packaging design has been tailored to best fit the Sungiven clientele, as the stores focus many of their marketing efforts and promotions towards their in-house brands. The minimum volume commitment for the agreement is 38,880 units per quarter, with intent to increase volumes by promoting in-house brands. The partnership will consist of two phases, having the initial launch within their Canadian locations and the second phase to export to China to supply to the remainder of the Sungiven supermarkets.
Erica Williams, Chief Executive Officer
Telephone: (604) 449-2026 Email: firstname.lastname@example.org
The Yumy Candy is an affordable health-conscious low-sugar plant-based confectionery company based in Vancouver, British Columbia and it has developed a portfolio of healthier gelatine-free candies made from non-GMO ingredients with proprietary recipes. All of its products are free of gelatin, soy, gluten, nuts, dairy, eggs, sugar alcohols, artificial sweeteners and genetically modified organisms.
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable securities legislation. The information in this news release about future plans and objectives of the Company, are forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: general business, economic and social uncertainties; local and global market and economic uncertainties arising in respect of the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other judicial, regulatory, political and competitive developments; the ability to effectively expand manufacturing and production capacity; the ability to obtain retail partners to distribute Company products, the success of market initiatives and the ability to grow brand awareness; the ability to attract, maintain and expand relationships with key strategic vendors; our ability to predict consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our cash to meet liquidity needs; those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Accordingly, the forward-looking statements discussed in this release may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward- looking statement, whether as a result of new information, future events, or otherwise.
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