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Eat Beyond Portfolio Company Plant Power Raises $7.5 Million

Jun 17, 2021•about 4 years ago

Amount Raised

$7.5 Million

Vancouver

Description

Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, announced that its portfolio company, The Plant Power Restaurant Group, parent company of Plant Power Fast Food ("Plant Power"), recently secured a $7.5 million Series A financing round. California-based Plant Power is a quick service restaurant ("QSR") brand offering a comprehensive, healthy, plant-based menu with meals that are served in biodegradable packaging.

Company Information

Company

Plant Power

Location

Vancouver, Washington, United States

About

"The ability to reimagine conventional fast food and create the full standard offerings of burgers, shakes, fries, and sandwiches utilizing vegan ingredients makes Plant Power a unique innovator within the QSR space."Plant Power has eight existing locations and net sales growth eclipsed 50% in 2020. The QSR market sector is expected to grow by 4.6% CAGR annually according to researchandmarkets.com, approaching a $1 Trillion value ($931 billion) by 2027. California-based Plant Power is a quick service restaurant ("QSR") brand offering a comprehensive, healthy, plant-based menu with meals that are served in biodegradable packaging. "Plant Power is the first QSR brand that Eat Beyond has added to its portfolio, and we are thrilled with its adaptability and upward growth trajectory in the fast-food industry in North America," Eat Beyond CEO Patrick Morris said.