07. May 2018
good-natured signs new thermoforming packaging agreement
Canada-based good natured Products Inc. has 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 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.”
http://www.goodnatured.ca