VANCOUVER, BC, July 1, 2022 /CNW/ – 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 large, high-quality Asian conglomerate with over 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 customer base. Yumy will manage all aspects of product supply chain and production, with Sungiven handling distribution to their sites and sales.
Sungiven Foods entered the North American market after achieving tremendous success in China, with more than 200 locations worldwide, Sungiven Foods is committed to serving Asians of all generations and all customers who love to enjoy and cook healthy Asian cuisine. They focus on “more natural, less processed and less additive” products, while advocating local, organic and healthy foods. Sungiven Foods offers a full line of healthy foods, with thousands of affordable, globally sourced 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, as well as a simultaneous expansion into the US market. Sungiven Foods has leveraged its global supply chain resources to further expand its wholesale channels and global import and export business, while actively developing an e-commerce platform. Sungiven owns various white label brands, which it promotes through its wholesale channels. Including the sale of their own products within Canada, as well as distribution and sales to other local markets and retailers, allowing the company to position itself in all aspects of the food industry. Sungiven also manages the import/export of products between Canada and Asia.
Yumy has confirmed production capabilities to ensure volumes and quotas can be met, moving forward with global expansion goals. “We are proud to announce our partnership with Sungiven Foods, adding another large-scale global customer that we can count on to contribute to business results. Having Sungiven Foods support our project by Asia gives our company a new level of credibility and helps us move forward with our global expansion. Our goal is to see Yumy enter more strategic partnerships like Sungiven in the near future.” Cassidy McCordDirector of The Yumy Candy Company.
The co-branded items will consist of Yumy’s Strawberry, Kiwi, Peach, and Sour Watermelon Gummy Bears in a 50g bag, as a 24-pack custom variety. The packaging design was adapted to best suit Sungiven’s customer base, as the stores focus much of their marketing efforts and promotions on their house brands. The minimum volume commitment for the deal is 38,880 units per quarter, with the intention of increasing volumes by promoting private label brands. The partnership will consist of two phases, the initial launch in their Canadian locations and the second phase of export to China to supply the rest of the Sungiven supermarkets.
YUMY CANDY COMPANY INC.
Erica WilliamsChief executive officer
Phone: (604) 449-2026 Email: [email protected]
The Yumy Candy is an affordable, health-conscious plant-based, low-sugar candy company based in Vancouver, British Columbia and it has developed a portfolio of healthier non-gummy candies made from non-GMO ingredients with proprietary recipes. All of its products are free of gelatin, soy, gluten, tree nuts, dairy, eggs, sugar alcohols, artificial sweeteners and genetically modified organisms.
Caution Regarding Forward-Looking Information
Except for statements of historical fact, this press release contains “forward-looking information” within the meaning of applicable securities laws. The information in this press release regarding the future plans and objectives of the Company is forward-looking information. This forward-looking information is based on reasonable assumptions and estimates made by the Company’s management at the time it was made, and involves known and unknown risks, uncertainties and other factors that may cause results, actual performance or achievements of the Company are materially different from any future results, performance or achievements expressed or implied by such forward-looking information. These factors include, among others: general business, economic and social uncertainties; local and global economic and business uncertainties related to the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other legal, regulatory, political and competitive developments; the ability to effectively increase manufacturing and production capacity; the ability to obtain business partners to distribute the Company’s products, the success of market initiatives and the ability to increase brand awareness; the ability to attract, maintain and expand relationships with key strategic suppliers; our ability to predict consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our liquidity to meet liquidity needs; such additional risks set forth in the Company’s public filings on SEDAR at www.sedar.com; and other matters discussed in this press release. Accordingly, the forward-looking statements discussed in this release may not occur and may differ materially due to these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in the preparation of forward-looking statements are reasonable, undue reliance should not be placed on such statements, which speak only as of the date of this press release, and no no assurance can be given that such statements of events will occur within the time periods disclosed or at all. Except as 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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SOURCEYumy Bear Goods Inc.
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