good natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP) today announced that it signed a 3+ year (40 month) agreement on April 23, 2018 to supply a US industry leader in thermoformed packaging. This agreement covers plant-based packaging solutions for both food and general merchandise markets.
The Company estimates the agreement to deliver US$1 million in organic growth in the current year, with gross margins to be in a range of 30% to 32%. Pricing and gross margins vary based on annual volume estimates of up to 4 million pounds of plant-based packaging material production. Annual sales volumes are expected to vary based on demand for each packaging model and the timing of new package design launches in the market.
This commercial agreement provides further evidence of good natured® market share gains and execution towards its goal of becoming the leading plant-based product and packaging company in North America.
This news comes after good natured® recently announced that it had closed over $5 million in new funding and achieved record sales for its financial year ended December 30, 2017.
“I’m very pleased with the skill and dedication of our team to consistently deliver on our ambitious growth targets,” said Paul Antoniadis, CEO of good natured®. “Integral to our growth is the execution of our strategy to maximize value per customer, be they local bakeries or large national accounts. Securing this national account shows the strong value our proposition and demand from businesses, both large and small, to make the switch from petroleum products to renewable, plant-based alternatives.”
About good natured Products Inc.
With over 100 plant-based food packaging designs, 10 grades of bioplastic rollstock sheets, 30 home & business organizational products and a world class team of scientists, business builders and retailers, good natured® is producing and distributing one of North America’s widest assortments of consumer products and packaging made from the highest possible percentage of renewable, plant-based materials and no BPAs, phthalates or other chemicals of concern.
Committed to doing what’s right for the planet and right for business, good natured® is creating better everyday products® that combine cutting-edge bioplastic technology and the latest sustainable design features that not only look good, but maximize shelf space, drive incremental sales, enhance logistics and boost environmental benefits, all bundled up in a fresh and friendly brand.
Paul Antoniadis – Chief Executive Officer