CAROL STREAM, IL / ACCESSWIRE / February 16, 2022 / The Fresh Factory B.C. Ltd. (CSE:FRSH)(FRA:Q4Z) ("The Fresh Factory" or the "Company"), a mission-driven company for fresh, clean-label, plant-based food and beverage brands, has launched Fresh Start, an accelerator program to pioneer the next generation of innovative brands creating better-for-you products made with fresh produce and recognizable ingredients. From product formulation to the end consumer, Fresh Start establishes and scales brands by leveraging The Fresh Factory's farm-to-shelf, vertically integrated platform.
"Fresh Start's robust 12-week program answers the demand for an all-inclusive approach to launching and scaling businesses in the fresh, clean-label and plant-based food and beverage space. Our innovative production capabilities and operational expertise are backed by top-tier strategic advisors who are aligned with our mission to accelerate sustainable food," said Bill Besenhofer, CEO and Co-Founder of The Fresh Factory. "We are passionate about bringing healthy and delicious ideas to life and are excited to propel the brands of tomorrow."
The Fresh Factory has helped dozens of companies build their brands, becoming a trusted growth partner in everything from crafting go-to-market strategies to e-commerce fulfillment. Fresh Start provides guidance, actionable information, and introductions across formulation, production, and finance.
The Fresh Start Program Steps
Often, The Fresh Factory will invest directly into companies as part of a funding round.
- For brands with less than USD$1M in sales for the previous 12 months (i.e., the trailing twelve months, or TTM), The Fresh Factory may offer $125,000 in services in exchange for a 7% equity position, with the investment taking the form of a Simple Agreement for Future Equity ("SAFE").
- For brands with more than USD$1M in TTM sales, The Fresh Factory may invest from $125,000 to $250,000 in services in exchange for a negotiated equity position. Investments typically take the form of a convertible note.
Fresh Start brands are supported by a superior network of strategic advisors, including:
Valor Siren Ventures - VSV's mission is to source, select, and serve exceptional companies, entrepreneurs, and founders that are making the world a better place in food, food technology, retail, retail technology, and sustainability within the broader food and retail markets. Investments include Misfits Market, Lesser Evil, and Atmosphere.
Barrel Ventures - Seed-stage fund with decades of experience in operating, scaling, and investing in companies to help early-stage entrepreneurs propel their ideas forward. Investments include Olipop, Pod Foods, and Grabango.
Listen Ventures - Team of investors, brand experts, and creative capitalists operating a concentrated investment strategy focused on partnering with extraordinary entrepreneurs to build the brands of tomorrow. Investments include Factor (acquired by HelloFresh), Calm, and Public Goods.
GreatPoint Ventures - A venture capital firm founded by entrepreneurs and company-builders on a mission to support revolutionary ideas that transform industries and benefit society. Investments include Beyond Meat, Farmer's Fridge, and Hero Foods.
RCV Frontline- RCV Frontline Fund is an operationally focused venture fund. It combines the investment expertise of RCV Partners and the operational expertise of JPG Resources creating a powerful resource for young, high growth companies. Investments include Lemon Perfect, A Dozen Cousins, and The Good Crisp.
SloFIG - Network of accredited independent investors who share the mission of using private investment to re-establish a robust and sustainable food system across the Chicago foodshed. They identify promising start-up and early-stage companies and provide capital, expertise, and a network of contacts to help drive their success. Investments include KitchFix, Local Foods, and Fillo's.
To apply to Fresh Start, visit https://thefreshfactory.co/freshstart/.
Director Changes
The Fresh Factory also announces that Jeremy Schupp has resigned as a director of the Company with immediate effect and was replaced by Bill Besenhofer, the CEO and Co-Founder of The Fresh Factory. Mr. Schupp continues to remain with the Company in his capacity as Chief Financial Officer and Corporate Secretary. The board changes were part of a planned transition consistent with the promotion of Mr. Besenhofer to the position of CEO earlier this year.
About The Fresh Factory B.C. Ltd.
The Fresh Factory has built a vertically integrated platform from the farm to the shelf. Their focus is on the future of food-fresh ingredients, clean-labels, and plant-based products. The Fresh Factory owns or partners with brands of all sizes to develop, manufacture, and sell products made from fresh produce and recognizable ingredients. It operates from its centrally located manufacturing facility near Chicago, serving customers across the US. As a public-benefits corporation, The Fresh Factory is ESG-focused, driven to make a lighter, greener impact on the environment and a stronger, positive impact on local communities and the food system as a whole. Learn more about The Fresh Factory at www.thefreshfactory.co and find The Fresh Factory on social media at Instagram, Twitter, and LinkedIn. To receive news and updates about The Fresh Factory, sign up for its newsletter at www.thefreshfactory.co.
Contacts:
Bill Besenhofer
Co-founder and CEO
1-877-495-1638
info@thefreshfactory.co
Alyssa Barry
Media and Investor Relations
1-877-495-1638
healthyinvestors@thefreshfactory.co
This news release contains "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements that address activities, events, or developments that Fresh Factory B.C. Ltd. ("Company") expects or anticipates will, or may, occur in the future, including statements about Company's new product offerings, its ability to execute on its goals, the timing pertaining to these goals and receipt of applicable consents and approvals, and Company's business prospects, future trends, plans and strategies. In some cases, forward looking statements are preceded by, followed by, or include words such as "may", "will," "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "proposes", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", "anticipate" or the negative of those words or other similar or comparable words. Although the management of the Company believes that the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that a forward-looking statement herein will prove to be accurate. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Risks and uncertainties applicable to the Company, as well as trends identified by the Company affecting its industry can be found in the final long form prospectus of the Company dated November 10, 2021, and the Company's continuous disclosure record available on SEDAR at www.sedar.com. Such cautionary statements qualify all forward-looking statements made in this news release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
SOURCE: The Fresh Factory B.C. Ltd.
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