Canada-based vegan company The Very Good Butchers (VGB) is on a massive growth trajectory. VGB reported a spike in sales of 582 percent in November 2020—due to a 1,686-percent increase in orders year-over-year in November—compared to sales it recorded last year. “Our e-commerce sales went kind of through the roof during COVID-19 and then our grocery store retail sales also saw a really strong [increase] as people are stocking up—they are cooking more at home,” VGB CEO Mitchell Scott told Benzinga.
The butchers go public
The company began in 2016 as a local provider of vegan meats and has quickly grown to sell its plant-based burgers, hot dogs, pepperoni, bacon, steaks, and more through various Canadian retail outlets, along with its own butcher shop. In June, VGB’s parent company, The Very Good Food Company Inc., began trading on the Canadian Securities Exchange under the ticker “VERY,” and within days its stock skyrocketed by 800 percent. In November, the company’s stock became available for purchase (under the ticker VRYYF) to Americans through the OTCQB market—a venture market operated by OTC Markets Group and designed for early-stage and developing United States-based and international companies.
VGB in the US
Using the $8.5 million in funding it received during its oversubscribed initial public offering, the company is building out its Vancouver facility to increase product from 8,100 pounds to 19,800 pounds of vegan meat per week. The company is gearing up to expand its operations to serve US customers. VGB has also recently teamed up with three new logistics partners that will allow the company to get its products to customers anywhere in North America within three days via ground transportation.
The butchers give back
Last month, VGB asked fans to nominate a “Very Good Person” to receive a variety of prizes, including a year’s worth of vegan meat as a grand prize. Throughout the month of November, VGB received 28,293 nominations and on December 1, announced three winners: Washington state resident and longtime vegan Charlotte; British Columbia resident and vegan activist Veronica; and Maine resident Scott, who left a full-time job earlier this year to build a COVID-19 field hospital to help people in need. “It’s our sincere pleasure to reward these three Very Good people, and we appreciate and thank every one of the thousands and thousands of other nominees who are out there doing good,” Scott said. “Recognizing those who are serving others, and making the world brighter during difficult times, reminds us that we all have the capacity to do good—and adopting a plant-based diet is one way to start.”