New premium salads use greens grown with
innovative indoor farming technique, resulting in fresher,
better-tasting, and longer-lasting meals
HAMILTON, Mont., Oct. 11,
2022 /PRNewswire/ -- Local Bounti Corporation (NYSE:
LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough
U.S. indoor agriculture company combining the best aspects of
vertical and greenhouse growing technologies, announced the launch
of its chef-inspired, grab-and-go salads utilizing its own
sustainably and locally grown lettuces. Local Bounti continues to
deploy its state-of-the-art growing techniques to achieve
best-in-class sustainability metrics, while ultimately unlocking
superior products for consumers to enjoy.
Local Bounti leverages its proprietary indoor growing technology
to produce a product that is fresher and better tasting. The
Company's research shows that the primary barrier to consumers
purchasing prepared salads in retail is concern over low quality
and lack of freshness. Local Bounti seeks to address these concerns
with salads that feature its greenhouse-grown greens. The result is
a lineup of chef-inspired, locally crafted grab-and-go salads that
provide consumers with a fresher, longer lasting, and better
tasting product.
"We partnered with a team of world-class chefs who helped craft
an elevated salad experience to awaken your taste buds," said
Craig Hurlbert, Co-CEO of Local
Bounti. "Our salads will feature a unique mix of our locally grown
greens combined with fresh, high-quality, and flavorful
ingredients. It will be a completely new experience for consumers –
they will no longer need to compromise on flavor or freshness when
seeking out a convenient, better-for-you meal."
Local Bounti is initially introducing two vegetarian-friendly
salads in the Northwest with a retail rollout expected in October.
The Company plans to expand its line of premium, grab-and-go salads
with new flavors and serve additional retailers and regions
starting in early 2023. Local Bounti will also be featuring its
salads at this year's International Fresh Produce Association
(IFPA) Global Produce and Floral Show in Orlando in October.
Local Bounti's two new salads focus on the following flavor
profiles to meet the needs of the increasing number of flexitarian
consumers:
- Poppy Power (240
calories) – Local Bounti's Northwest-grown Romaine Crisp and Bok Choy are topped with antioxidant-packed
cranberries and a colorful carrot and broccoli slaw. A powerful
blend of seeds—pepitas, sunflower and flax—adds a satisfying crunch
that is finished with a craveable poppy seed dressing.
- Modern Greek (230 calories) – Local Bounti's
Northwest-grown Romaine Crisp
topped with fresh tomatoes, feta, hearty quinoa, red onion, crunchy
chickpeas, and chopped olives is finished with a bright and savory
Tzatziki dressing, bringing a refreshing take on a timeless
Mediterranean classic.
About Local Bounti
Local Bounti is redefining indoor farming with an innovative
method – its proprietary Stack & Flow Technology™ – that
significantly improves crop turns, increases output and improves
unit economics. Local Bounti operates advanced indoor growing
facilities across the United
States, servicing approximately 10,000 retail doors with its
two brands: Local Bounti® and Pete's®. We
grow healthy food utilizing a hybrid approach that integrates the
best attributes of controlled environment agriculture with natural
elements. Our sustainable growing methods are better for the
planet, using 90% less water and land than conventional farming
methods. With a mission to 'bring our farm to your kitchen in the
fewest food miles possible,' Local Bounti's food is fresher, more
nutritious, and lasts longer than traditional agriculture. To find
out more, visit localbounti.com or eatpetes.com, or
follow Local Bounti on LinkedIn for the latest news and
developments.
Forward-Looking
Statements
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. In some cases,
you can identify these forward-looking statements by words such as
"anticipate," "approximate," "believe," "commit," "continue,"
"could," "estimate," "expect," "hope," "intend," "may," "outlook,"
"plan," "project," "potential," "should," "would," "will," and
other similar words or expressions. Forward-looking statements
reflect Local Bounti's current expectations or beliefs concerning
future events and actual events may differ materially from
historical results or current expectations. The reader is cautioned
not to place undue reliance on these forward-looking statements,
which are not a guarantee of future performance and are subject to
a number of uncertainties, risks, assumptions, and other factors,
many of which are outside the control of Local Bounti. The
forward-looking statements in this press release relate to our
future plans for salads and customer demand and expectations. The
following factors, among others, could cause actual results to
differ materially from those described in these forward-looking
statements: Local Bounti's ability to effectively integrate the
recently acquired operations of Pete's into its existing
operations; the ability of Local Bounti to retain and hire key
personnel; the uncertainty of projected financial information;
Local Bounti's increased leverage as a result of additional
indebtedness incurred in connection with the recent acquisition of
Pete's; restrictions contained in Local Bounti's debt facility
agreements with Cargill Financial Services International, Inc.;
Local Bounti's ability to repay, refinance, restructure, or extend
its indebtedness as it comes due; unknown liabilities that may be
assumed in acquisitions; Local Bounti's ability to generate
revenue; the risk that Local Bounti may never achieve or sustain
profitability; the risk that Local Bounti could fail to effectively
manage its future growth; the risk that Local Bounti will fail to
obtain additional necessary capital when needed on acceptable terms
or at all; Local Bounti's ability to build out additional
facilities; reliance on third parties for construction, delays
relating to material delivery and supply chains, and fluctuating
material prices; Local Bounti's ability to maintain its gross
margin or decrease its cost of goods sold over time; potential for
damage to or problems with Local Bounti's facilities; Local
Bounti's ability to attract and retain qualified employees; Local
Bounti's ability to develop and maintain its brand or brands it may
acquire; Local Bounti's ability to maintain its company culture or
focus on its vision as it grows; Local Bounti's ability to execute
on its growth strategy; the risks of diseases and pests destroying
crops; Local Bounti's ability to compete successfully in the highly
competitive natural food market; Local Bounti's ability to defend
itself against intellectual property infringement claims; changes
in consumer preferences, perception, and spending habits in the
food industry; seasonality; Local Bounti's ability to achieve its
sustainability goals; and other risks and uncertainties indicated
from time to time, including those under "Risk Factors" and
"Forward-Looking Statements" in Local Bounti's Annual Report on
Form 10-K for the year ended December 31,
2021, filed with the SEC on March 30,
2022, as supplemented by subsequent Quarterly Reports on
Form 10-Q and Annual Reports on Form 10-K, and other reports and
documents Local Bounti files from time to time with the SEC. Local
Bounti cautions that the foregoing list of factors is not exclusive
and cautions readers not to place undue reliance upon any
forward-looking statements, which speak only as of the date hereof.
Local Bounti does not undertake or accept any obligation or
undertaking to update or revise any forward-looking statements to
reflect any change in its expectations or any change in events,
conditions, or circumstances on which any forward-looking statement
is based.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/local-bounti-launches-restaurant-quality-grab-and-go-salads-with-longer-lasting-lettuce-301645878.html
SOURCE Local Bounti