Very Good Food Up 101% to 27 Cents

By Josh Beckerman

Shares of Very Good Food Co. surged 101% to 27 cents as the plant-based food company expanded its distribution at Loblaw Cos.

Items like Cajun Sausage, Bratwurst Sausage and Very Good Ribs will be available at some Real Canadian Superstore and Loblaws locations.

The company's products are now available in more than 2,000 stores in North America. Last year, it reached a U.S. retail distribution agreement with United Natural Foods Inc.

In March, Very Good Food said it was "lowering production throughput and headcount to manage inventory levels" and pausing non-critical capital expenditures. At the time, it said cash burn in recent months was higher than expected.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

05-25-22 1609ET