Eat Well Group taps leading digital merchandising agency Avenue7Media to drive Amazon sales of portfolio products
Vancouver, British Columbia–(BUSINESS WIRE)–Eat Well Investment Group Inc. (the “Society” Where “Eat Well Group” Where “EWG”) (CN:EWG) (US:EWGFF) (FRA:6BC0) is pleased to announce the engagement of Avenue7Media (“Ave7”) as Amazon’s lead digital merchandising agency, focused on growing Eat Well’s portfolio, brand and consumer product investments , through Amazon.com.
According to the “Amazon Advertising Report”, 74% of US consumers start researching a product on Amazon, with 56% saying that if they could only buy from one store, they would choose Amazon.1 Today, the e-commerce giant generates around US$30 billion in online grocery sales2 and remains an integral part of Eat Well Group and its portfolio investment omnichannel distribution strategy.
With winning products that include Sapientia Technologies’ “plant-based cheeto” and shelf-stable products from Amara Organic Baby Foods, e-commerce is an efficient and powerful distribution channel. Ave7 has been engaged to grow the online snacks platform for Eat Well Group’s portfolio products, with delivery in Spring 2022 as snacks continue to grow at 3-5x offline sales rates according to internal data analytics via Ave7’s proprietary technology stack.
“We are very excited about the growth potential of Eat Well Group’s online snacks investment portfolio, over the long term,” said Jason Boyce, founder and CEO of Avenue7Media, a Los Angeles-based company, which started and successfully sold two previous Amazon platforms, before creating this next-gen digital merchandising company to help hyper-growth brands. “With the snacks market being a multi-billion dollar industry, healthy plant-based snacks may become dominant online.”
“The Avenue7Media team is made up of operators with a digital merchandising mindset,” said Marc Aneed, CEO and Director of Eat Well Group. “We chose to partner with them because they understand Amazon simultaneously from the angles of technology, shopping behavior, finance and logistics. We look forward to delivering significant growth for years to come,” said continued Aneed.
Additionally, the company is pleased to announce that it will expand its North American and European digital and market awareness campaigns on behalf of its portfolio companies, including press initiatives, advertising and social media. These marketing and outreach programs include both existing engagements with independent parties and new engagements for an aggregate gross spend of $997,000. The Company has engaged the following service providers to support the growth of its portfolio investments:
PRmediaNow, Inc. (“RPmedia”) to provide media outreach services to the Company for a term of 6 months commencing January 5, 2022 and ending July 5, 2022, for a total cash consideration of $20,340 and 200,000 stock options. ‘shares (the “stock options”) exercisable at C$0.60 per common share of the capital of the Company for a period of two (2) years from the date of issue. The stock options will vest on January 5, 2023. PRmediaNow, Inc., specializes in securing editorial media coverage through media outreach to journalists, producers and bloggers.
Investor Brand Network (“NBI”) to provide weekly coverage with expanded editorial content, custom media, branding and marketing services to the Company for a term of 6 months beginning December 3, 2021 and ending June 3, 2022, for full consideration in cash of $58,000. IBN will use a variety of different platforms and types of media, including but not limited to InvestorWire, social media and IBN newsletters.
Stockhouse Publishing Ltd. (“Stock house”) to provide an advertising campaign, the creation and distribution of videos, aggregate information reports and various marketing materials and products to the Company for a period of 12 months beginning on December 8, 2021 and ending on December 8, 2022, for a total cash consideration of $157,500. Media can be viewed at stockhouse.com.
GloBull Media LLC (“Globull”) to provide a DEM display advertising and outreach campaign that will run from January 17, 2022 through January 31, 2022, for a total cash consideration of US$118,500. Globull specializes in digital advertisement placement, sponsored article placement, display advertisement distribution, push notifications and search engine marketing with content displayed on the Internet.
Media One AG (“media one”) to provide press initiatives, online and traditional media content creation, web development, and European Union-focused webcasting and translation services for a period of 16 months from February 1, 2022 to February 1, 2022. June 2023 for a total cash consideration of €450,000. Media One will consult a variety of different platforms and types of media on the Internet.
All previous information related to promotional activity is disclosed pursuant to a legal requirement.
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ABOUT THE EAT WELL GROUP
Eat Well Group is a publicly traded investment firm focusing primarily on high growth companies in the agribusiness, food tech, plant and ESG (environmental, social and governance) sectors. Eat Well Group’s management team has extensive experience in finding, funding and building successful businesses across a wide range of industries and maintains a current investment mandate on the healthcare industry and well-being. The team has funded and invested in early-stage venture capital firms for over 25 years, giving them unprecedented access to deal flow and building a portfolio of opportunistic investments designed to generate returns risk-adjusted superiors.
Disclaimer for forward-looking statements
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities laws (collectively, “forward-looking information”). Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “shall”, “should”, “could” or “could” occur or be achieved and other similar expressions. The forward-looking information contained in this press release includes anticipated future business developments for the companies in which Eat Well Group invests. Forward-looking information is based on assumptions which may prove to be incorrect, including, but not limited to, the Company’s ability to execute its business plan. The Company considers these assumptions to be reasonable under the circumstances. However, forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those expressed or implied by the forward-looking information. These risks include, but are not limited to: the inability to negotiate and execute additional investments in target industries; the Company’s ability to make investments in a timely manner or at all; receipt of required approvals to make additional investments; the Company’s ability to realize expected benefits and synergies from investments; unexpected disruptions to the operations and activities of the Company and the Beneficiary Entities as a result of the global COVID-19 pandemic or other epidemics, including a resurgence of COVID-19 cases; the Company’s ability to comply with applicable government regulations in a regulated industry; any change in accounting practices or treatment affecting the consolidation of financial results adverse market conditions; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; input costs; bad harvests; litigation; currency fluctuations; competetion; availability of capital and financing on acceptable terms; industry consolidation; loss of officers and/or key employees; and other risks detailed herein and from time to time in documents filed by the Company with securities regulatory authorities. For more information about the Company and the risks and challenges of its business, investors should consult their annual documents which are available at www.sedar.com.
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