At last check, The Very Good Food Company Inc. (NASDAQ: VGFC) was trading at $0.1722, up 14.80% following a strategic review. The stock fluctuated between $0.1521 and $0.2070, during the trading session.
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VGFC has been making what moves?
According to the company, VERY GOOD (VGFC) is evaluating possible strategic options to maximize shareholder value, including acquiring or merging its assets or business with another company.
- To maintain and enhance the value of VGFC’s business and operations, the Company will continue to implement the three-pronged strategic review process announced in May 2022, which consists of (1) Stabilize, (2) Right-Size, and (3) Optimize.
- VGFC did not guarantee that a strategy review would take place either in terms of its outcome or its timing.
- A definitive agreement has not yet been signed by VGFC, and it intends not to disclose developments related to that process until it has signed a definitive agreement or determines it is appropriate or necessary to do so.
- A review of strategic alternatives is being conducted by Canaccord Genuity Corp., the financial advisor to VGFC.
In an effort to expand its retail presence in Eastern U.S. retail markets, VGFC has recently partnered with Weis Markets, Inc. (“Weis”). In addition to 196 supermarkets located throughout Pennsylvania, Delaware, Maryland, New York, New Jersey, Virginia, and West Virginia, Weis also provides online shopping and delivery services to residents of PA.
VGFC now has more retail outlets in the United States, which further extends its product availability. A Cut Above Pork, VGFC Steak, and Mmm Meatballs, from The VGFC Butchers plant-based meat brand, are among the selections Weis selected.
With new store openings in important markets, Weis is extending its unique offering of high-quality products made with natural ingredients to satisfy the needs of East Coast shoppers. Collaboration and growth with Weis are welcome opportunities for VGFC.
How is VGFC progressing?
This summer, VERY GOOD (VGFC) announced its third United States retail distribution listing at Weis. And now a strategic initiative is underway at VGFC to expand its retail footprint in every major metropolitan area in the country, step by step.