Overview
In keeping with the Authorities of Canada, the blue financial system is pushed by sustainable ocean sources and accounts for about C$30 billion per yr. A big issue within the blue financial system is the preservation of aquatic life –– particularly, seafood. Consequently, seafood alternate options are projected to achieve a market dimension of US$1.6 billion within the subsequent decade at a compound annual development price (CAGR) of 28 %. With this in thoughts, corporations with fashions that help blue economies, and provide seafood protein alternate options, will possible be of great curiosity to buyers in search of upside potential.
Billy Goat Manufacturers (CSE:GOAT) is a enterprise capital platform targeted on constructing a diversified portfolio of excessive potential, expansion-stage meals and nutraceutical manufacturers within the blue financial system. The corporate is devoted to investing in, and serving to develop, thrilling and progressive corporations with environmental, social, and governance (ESG) initiatives that deal with local weather change, human wellness and the worldwide demand for meals safety. Billy Goat Manufacturers’ portfolio provides buyers early publicity to useful meals, meals expertise, and fermented meals manufacturers which might be fast-growing.
The corporate differentiates itself from a standard investor as a companion that gives strategic help, community connections, and help to its portfolio corporations. This partnership-driven relationship facilitates scale and quicker development for its portfolio corporations, increasing their market alternatives and rising their product strains. All of Billy Goat Model’s portfolio corporations have been greater than glad with the help that Billy Goat Manufacturers has supplied to them.
Billy Goat Manufacturers’ present portfolio consists of Sophie’s Kitchen, KOLD, The Vegetarian Butcher, and Evanesce Packaging. Sophie’s Kitchen, the corporate’s largest asset, focuses on delivering scrumptious and nutritious plant-based seafood alternate options that help a blue financial system. As of Could 5, 2022, Billy Goat Manufacturers elevated its funding in Sophie’s Kitchen, now proudly owning 35 % of the corporate. CEO Tony Harris credit this to the progress the corporate remodeled the previous yr and its ongoing dedication to progressive meals merchandise.
KOLD produces enhanced chilly brew espresso that’s produced from high-quality espresso and useful mushrooms. The Vegetarian Butcher provides gluten-free and GMO-free plant-based deli meat different meals merchandise. Lastly, Evanesce Packaging creates actually compostable, natural, sustainable, and efficient disposable packaging and utensil alternate options to non-compostable and inorganic choices.
In October 2021, Billy Goat Manufacturers signed a Letter of Intent to buy an fairness stake with Cascadia Seaweed. a vertically built-in firm rising to change into the most important supplier of ultra-premium ocean cultivated seaweed in North America.
The corporate’s diversified portfolio is 40 % in useful meals, 45 % in plant-based proteins, and 15 % in meals expertise. The corporate intends to have a platform constructed round a core group of 5 to 10 investments. This technique will allow the corporate to higher give attention to supporting and accelerating its portfolio corporations’ development and market growth.
Every firm that’s presently in Billy Goat Manufacturers’ portfolio is predicted to supply a greater than 50 %, compound annual development price (CAGR) in every of the subsequent three years. Billy Goat Manufacturers plans to generate returns on its investments in a number of methods, together with go-public transactions, mergers and acquisitions, and different liquidity occasions of its portfolio corporations or initiatives.
The corporate is led by an skilled administration workforce that’s well-versed within the nuances of the general public markets, enterprise capital, mergers and acquisitions, technique, company governance, and operations. The corporate’s administration workforce has executed over $5 billion of assorted debt and fairness transactions. The workforce has additionally established extremely profitable model channels, concepts and platforms for manufacturers like Finest Purchase, Telus, and Tourism BC.
The corporate’s pre-money valuation is presently estimated to be a powerful C$44 million. Billy Goat Manufacturers has 96,714,335 widespread shares issued and excellent, 41,948,596 warrants and 4,425,000 inventory choices for a complete of 143,087,931 absolutely diluted shares excellent. If absolutely exercised, warrant proceeds would whole roughly C$12.5 million whereas possibility proceeds would whole C$1.2 million.
At present, Billy Goat Manufacturers has recognized greater than 200 potential portfolio corporations and it has entered into greater than 40 superior discussions. Going ahead, the corporate will likely be getting into due diligence with greater than 20 corporations to ascertain honest negotiations, together with two time period sheets out for evaluate by third events.
Firm Highlights
- Billy Goat Manufacturers (CSE:GOAT) is a enterprise capital platform targeted on constructing a diversified portfolio of excessive potential, expansion-stage meals and nutraceutical manufacturers within the blue financial system, whereas sustaining ESG initiatives.
- The corporate differentiates itself from a standard investor as a companion that gives strategic help, community connections and help to its portfolio corporations for quicker scale and development. All of Billy Goat Model’s portfolio corporations have been greater than glad with the help that Billy Goat Manufacturers has supplied to them.
- Billy Goat Manufacturers’ present portfolio consists of Sophie’s Kitchen, KOLD, The Vegetarian Butcher, and Evanesce Packaging. Sophie’s Kitchen, the corporate’s largest asset, focuses on delivering scrumptious and nutritious plant-based seafood alternate options that help a blue financial system.
- GOAT to spend money on Cascadia Seaweed, a vertically built-in firm rising to change into the most important supplier of ultra-premium ocean cultivated seaweed in North America.
- Every firm that’s presently in Billy Goat Manufacturers’ portfolio is predicted to supply a greater than 50 % CAGR in every of the subsequent three years.
- On Could 5, 2022, the corporate elevated its share in Sophie’s Kitchen to 35 %, with CEO Tony Harris crediting the choice to the progress Sophie’s Kitchen remodeled the 12 months, and its ongoing dedication to progressive meals merchandise.
- The corporate is led by an skilled administration workforce that’s well-versed within the nuances of the general public markets, enterprise capital, mergers and acquisitions, technique, company governance, and operations.
Key Merchandise
Sophie’s Kitchen
Billy Goat Manufacturers has the fitting to accumulate as much as 46 % curiosity in its key model, which is Sophie’s Kitchen. The curiosity settlement is contingent upon funding and conversion of an present credit score facility, in addition to the train of subscription rights granted to Billy Goat Manufacturers. Billy Goat Manufacturers has additionally been granted share buy warrants in Sophie’s Kitchen. The corporate will likely be offering capital markets advisory companies to Sophie’s Kitchen to go public on the North American inventory trade. Sophie’s Kitchen is Billy Goat Manufacturers’ largest asset so far.
Sophie’s Kitchen provides scrumptious and nutritious plant-based seafood alternate options which have zero mercury content material, no fishy odor, no concern of microplastics, and don’t negatively influence the ocean. The corporate is a producer and distributor that creates each frozen and shelf-stable merchandise. Sophie’s Kitchen’s merchandise embody Plant-Primarily based Toona with Sea Salt, Plant-Primarily based Toona with Black Pepper, Breaded Vegan Shrimp, Vegan Fish Fillet, Vegan Smoked Salmon, and Vegan Crab Muffins. Sophie’s Kitchen has skilled fast income development.
Sophie’s Kitchen has entered into a number of strategic partnerships to help its aggressive development, together with a producing and distributor deal. The corporate’s merchandise can be found at varied retailers like Amazon.com, Wegmans, Sprouts Farmers Market, Cease & Store, Walmart and Entire Meals Market. The corporate has a few of the finest nationwide distribution companions, together with United Pure Meals, KeHE and Sysco. Going ahead, the corporate plans to broaden its product choices to incorporate a plant-based rooster different.
Sophie’s Kitchens has been featured by PETA, Forbes, Yahoo! Finance, Veg World, Nicely + Good, East Bay Specific, Bloomberg, VegOut, VegNews, The Beet, and Vegconomist. The corporate has additionally gained the PETA Vegan Meals Award and the title of “Finest Plant Primarily based Seafood” from Goop’s “A Information to the Finest Plant Primarily based Meats.”
Primarily based on this success, Billy Goat Manufacturers acquired extra stake within the firm. As of Could 5, 2022, the corporate owns 5 % of the corporate. CEO Tony Harris credit this to the progress the corporate remodeled the previous yr and its ongoing dedication to progressive meals merchandise.
KOLD
Billy Goat Manufacturers owns one hundred pc of KOLD. Billy Goat Manufacturers will likely be offering KOLD with capital, advertising and marketing, and strategic partnerships. KOLD is a producer and distributor that creates enhanced chilly brew espresso that’s produced from high-quality espresso and useful mushrooms. KOLD provides natural Chaga and Lion’s Mane mushroom-infused chilly brew espresso merchandise that function slow-roasted chicory for digestive well being. Every serving of KOLD espresso accommodates 160 mg of mushrooms. KOLD merchandise can even be packaged utilizing reusable glass bottles by a partnership with Terracycle’s LOOP program. The corporate’s market technique is focusing on a share of the practically US$23 billion useful mushroom market.
KOLD has partnered with Brew N Bottle as a key product formulator. Brew N Bottle has developed and produced merchandise for a number of Fortune 500 manufacturers, together with Starbucks, Entire Meals Market, Hershey’s, Folgers, and Seattle’s Finest. KOLD acquired the primary preorder of its product, by way of its subsidiary FunGuys Drinks, proving the demand for espresso and useful mushrooms within the US$655 million marketplace for cold-brew espresso. Going ahead, the corporate plans to broaden first to the US after which globally.
The Vegetarian Butcher
Billy Goat Manufacturers owns a 12.4 % stake in The Vegetarian Butcher. The Vegetarian Butcher creates gluten-free and GMO-free plant-based meat different meals merchandise. The corporate focuses on contemporary vegan deli meats which might be ready in-house, frozen packaged meals and dry and canned substances. The Vegetarian Butcher additionally sells white-label vegan meat substitutes and catering companies.
The Vegetarian Butcher has two main brick-and-mortar areas in British Columbia. The corporate additionally has an e-commerce platform to promote its merchandise. Each shops efficiently turned money stream optimistic inside two months of opening. The corporate has began the allowing course of to open a 3rd location in White Rock, BC.
The Vegetarian Butcher is presently exploring potential franchising and proprietary manufacturing. The corporate has a aim to start manufacturing in-house to cut back prices and enhance margins. The Vegetarian Butcher additionally hopes to broaden nationwide over the subsequent three years with 36 areas, together with 10 or extra shops within the Larger Toronto Space.
Evanesce Sustainable Packaging
Billy Goat Manufacturers owns a minority stake in Evanesce Packaging, an organization providing actually compostable, natural, and sustainable disposable packaging and utensil alternate options to non-compostable and inorganic choices. The corporate’s packaging is produced from plant-based by-products and doesn’t compromise power, insulation, nesting capabilities, or price competitiveness. The corporate’s packaging merchandise decompose in beneath 90 days and have a shelf lifetime of over two years. Evanesce Packaging’s merchandise embody takeout containers and compostable straws that don’t disintegrate like cardboard straws usually do. Evanesce Packaging’s progressive expertise has three patents issued, one patent pending, and 17 claims.
Evanesce Packaging plans to focus on a number of markets, together with grocers, meat and poultry packers, quick meals chains, and produce packers. Billy Goat Manufacturers lately elevated its possession within the firm, exercising its incentive warrants to virtually double the earlier stake. Evanesce is presently in talks with Syco, Sobeys, Fiera Meals, and Oppy. The corporate additionally plans to pursue leads in its goal market within the first half of 2022. Throughout 2022, it’s additionally launching a brand new set of starch merchandise together with trays, cups, and containers, all product of moulded starch.
Cascadia Seaweed
Primarily based in Sidney, British Columbia, Cascadia Seaweed cultivates seaweed alongside the coast of BC in Canada. Based in 2019, it produced seed, constructed farms, planted, grew, and harvested from two hectares of demonstration farms in the identical yr, Cascadia Seaweed has a imaginative and prescient to have no less than 500 hectares beneath cultivation by 2025.
Beneath the phrases of the Letter of Intent, Billy Goat Manufacturers could present capital advisory companies to Cascadia Seaweed in trade for an fairness stake within the firm.
Administration Crew
Tony Harris – Chairman and CEO
Tony Harris has over 20 years of expertise as an investor and entrepreneur. Harris has earned a status for main high-performance groups. Harris is the president of the Tony Harris Group and a companion at Harris Auto Group. As an entrepreneur and investor, Harris has in depth expertise in company banking and finance. He’s an award-winning automotive vendor and actual property developer. A graduate of the College of Western Ontario, Harris additionally accomplished government training in management and entrepreneurship from Babson Faculty. Harris is a household man, a identified neighborhood builder, and a philanthropist who serves as chair of the Nanaimo and District Hospital Basis.
Shriram (Ram) Bangalore – CFO
Ram Bangalore brings extra 10 years of various expertise in monetary and taxation administration, company technique, controls, accounting and monetary reporting to the Firm. Ram holds a Bachelor of Commerce and is a member of the Chartered Skilled Accountants, Canada since 2018.
Paul Marr – SVP of Advertising
Paul Marr is the SVP of Advertising at Billy Goat Manufacturers. Marr is an award-winning government inventive director. Marr is presently the principal director at KLOD and he’s the pinnacle of Marcom inventive for EA Sports activities. At EA Sports activities, Marr leads a workforce of strategists, designers, copywriters and artistic administrators. Earlier than EA, Marr was a director at Cossette which is Canada’s main inventive company. At Cossette, he helped set up model channels, concepts, and platforms for manufacturers like Finest Purchase, Telus and Tourism BC.
David Jackson – SVP of Branding
David Jackson is the senior vice chairman of branding at Billy Goat Manufacturers. Jackson is a highly-regarded advertising and marketing chief. Jackson is presently the principal director at KOLD and vice chairman of promoting for EA Sports activities. At EA Sports activities, Jackson is chargeable for over US$2 billion of income globally throughout the FIFA franchise. Earlier than EA, Jackson labored in omnichannel promoting for the private and non-private sector with Saatchi & Saatchi in London, UK. He has additionally held a place in sponsorship technique and activation with Barclays Financial institution.
Jan Urata – Company Secretary
Jan Urata is the founder and president of Take It Public Companies. Urata based Take It Public Companies in 2011. Take It Public Companies is a regulatory and company compliance help service for top-tier junior issuers in a variety of industries, together with biotech, mining, enterprise capital, and oil and fuel. Urata brings over 20 years of trade expertise and is well-versed in taking company entities from the preliminary seed capital stage to publicly-listed corporations.
Todd Buchanan – Chairman and Funding Committee
Todd Buchanan is chairman of Billy Goat Manufacturers and has over 20 years of expertise working with Fortune 500 private and non-private corporations. Buchanan suggested on the creation and implementation of enterprise course of administration strategies and expertise, proving him a robust consensus builder and negotiator. Buchanan is targeted on helping founders and households working early-stage corporations from start-up by proof of idea to hyper-growth. He has labored with varied corporations throughout which he provided his multifaceted expertise. Buchanan has held varied senior government positions at a number of corporations together with Worldwide Forest Merchandise, SiCam Programs and its shoppers, Nexii Constructing Options, Luvo, and LYFE Kitchen, and Equifaira Companions and its shoppers. He presently serves on the board, as an officer and in advisory roles with a number of corporations, a mutual fund belief and a not-for-profit group.
Asghar Khan – Funding Committee
Asghar Khan is a part of the funding committee at Billy Goat Manufacturers. Khan has in depth expertise working with private and non-private enterprises, having pushed shareholder worth in addition to long-term development. Khan had served because the regional head of technique and enterprise improvement for PepsiCo, the place he drove a multi-billion greenback portfolio in 14 nations throughout the Pacific Asia, with a main give attention to improvement of technique and mergers and acquisitions. Earlier than PepsiCo, Khan held senior finance and planning positions at Rogers Communications and PricewaterhouseCoopers, additionally serving on the boards of assorted MNCs within the Asia Pacific. Khan is a member of CIMA Australia, holding a bachelor’s diploma from Albright Faculty, a grasp’s of enterprise administration from Lerner Faculty of Enterprise on the College of Delaware, and a grasp’s diploma in finance from The Wharton Faculty of Enterprise on the College of Pennsylvania.
Lyndsay Hamelin – Director
Lyndsay Hamelin brings over 15 years of expertise in company and securities regulation. Throughout her profession, she has targeted on securities and company finance. Hamelin assists with managing and orchestrating public firm necessities with a give attention to the CSE, TSXV, and TSX inventory exchanges, in addition to listings on the OTC Markets. After beginning her profession in Vancouver, Canada, Hamelin superior to a senior place working with a top-tier regulation agency in London, England, the place she assisted in finishing a company reorganization. Hamelin has returned to Canada the place she makes use of her worldwide experience to assist shoppers navigate complicated company compliance issues, financings, and IPO preparations for the Canadian markets.
Natasha Raey – Director
Natasha Raey is an entrepreneur and philanthropist with over 15 years of operational and undertaking administration expertise. Raey’s main sector focuses embody healthcare, hashish, shopper discretionary, and girls’s empowerment. Raey is the founding father of Bloomelix and the CEO of Skye Hashish. She has had expertise growing and executing analysis initiatives, improvement motion plans, and analysis frameworks for a lot of neighborhood improvement and health-focused initiatives. Raey is a companion at Cadence Well being Heart, the place she oversees the event and execution of the multi-disciplinary well being middle and compounding pharmacy. She is an avid philanthropist with a give attention to healthcare and girls’s empowerment. Raey is the founding father of SheTalks World which is a platform for girls to share their tales of empowerment that’s been acknowledged by CNN Worldwide. At present, Raey sits on the board of Myconic Capital . She holds an honors diploma in molecular biology and biochemistry from Simon Fraser College and has a grasp’s in well being administration from the College of British Columbia.
Lawrence Hay – Director
Lawrence Hay is an officer and director of a wide range of personal and public corporations and has in depth expertise structuring and financing corporations inside the clear vitality and ESG industries.
