For over a decade, Naturally Splendid has been involved in the development of plant-based products with a particular focus on the hemp plant. “The journey that we started a decade ago, was, in fact, the right path. We see all the right trends and all the right market indicators to keep on this path,” said Goodwin.
As part of this strategy, Naturally Splendid recently partnered with one of Australia’s most popular plant-based manufacturers, BettaLife Global Food Solutions, to arrange for sale and distribution of the company’s plant-based products in North America. Naturally Splendid intends to market the BettaLife product line under its NATERA™ brand.
According to Goodwin, Naturally Splendid’s aim is to leverage BettaLife’s manufacturing experience and processes in order to establish similar facilities in its target market. “North America is the world’s largest plant-based protein market in the world. Our friends in Australia are strategic partners and very experienced operators. We have the advantage of being able to duplicate what has been successful for them in their manufacturing facility so that we can be miles ahead by leveraging a well-established blueprint,” said Goodwin. “Afterwards, our speed to market and the variety that we will be able to produce out of our own facility will give us a competitive advantage.”
The growing trend towards plant-based foods has largely focused on replacing beef, specifically the beef found in burger patties. According to Goodwin, Naturally Splendid intends to continue to develop a variety of offerings that are designed to cater to consumers of all dietary preferences, including those that simply wish to make healthier diet choices.
For a comprehensive update from Naturally Splendid CEO Craig Goodwin, watch the video above.
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Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
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