Premium lettuce wrap kit features living
butter lettuce grown with innovative indoor agriculture method,
offering consumers a fresh, restaurant quality meal at home in
about five minutes
HAMILTON, Mont., Jan. 11, 2023 /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 Asian Style Chicken Lettuce Wrap Kit, a
restaurant-quality meal solution that is prepared at home in about
5 minutes, at 194 Sprouts Farmers Markets (NASDAQ: SFM) locations
in California and Arizona. Driven by its mission
to "Nourish Humankind and Protect the Planet," Local Bounti
continues to deploy its state-of-the-art growing techniques to
unlock superior products for consumers to enjoy while
simultaneously doing good for the environment and achieving
best-in-class sustainability metrics.
At just 120 calories per serving, Local Bounti's
new Asian Style Chicken Lettuce Wrap Kit is
landing in stores just in time for shoppers' New Year's
resolutions, meeting consumer demand for more premium, healthy and
easy-to-prepare meal kit options at home. Local
Bounti's Asian Style Chicken Lettuce Wrap
Kit features its own sustainably greenhouse-grown living
butter lettuce head coupled with a chef-inspired chicken and veggie
blend in a tangy stir fry sauce allowing consumers to make
restaurant-quality chicken lettuce wraps at home in about 5
minutes.
According to The Food Industry Association's (FMI) annual
report, The Power of Foodservice at Retail 2022, American
consumers have prioritized chicken lettuce wraps as one of a select
group of prepared meal options they wished were available at their
local market.
"As we look to introduce new items in the market that meet
consumers' needs, it is critical that we work to ensure that these
new offerings are also fresh, premium and delicious," said
Brian Cook, President of Local
Bounti. "Not only have we developed a meal for retail that is
highly sought after within the foodservice channel, but we're also
using premium ingredients such as our own sustainably grown living
butter lettuce, all-white meat chicken and high quality veggies.
Best of all, consumers don't have to spend a lot of time in the
kitchen preparing our lettuce wraps since they can be heated and
assembled in about 5 minutes. Consumers will no longer have to
compromise on flavor, freshness or quality when seeking to prepare
a convenient meal solution at home."
Local Bounti's new Asian Style Chicken Lettuce Wrap
Kit featuring fully cooked, white meat chicken, mushrooms,
carrots and green onions in a tangy stir fry sauce, represents the
company's entry into the 'Heat and Eat' category and its second
value-add product line offering in just three short months. In
October 2022, Local
Bounti rolled out its premium Grab & Go Salad
Kit line, featuring two vegetarian-friendly offerings:
Poppy Power and
the Modern Greek.
"We are pleased to bring Local Bounti's new heat and eat
Asian Style Chicken Lettuce Wrap Kit to Sprouts Farmers
Market customers in California and
Arizona," said Caitlin Tierney, Senior Director of Produce for
Local and Innovation at Sprouts Farmers Market. "Local Bounti
shares our mission to deliver the freshest food to communities in a
way that reduces waste, promotes healthy eating and living, and
improves food access."
Local Bounti's Asian Style Chicken Lettuce Wrap Kit will
be available in west coast markets beginning the week of
January 16, 2023, with broader retail
and variety expansion later in the year.
About Local Bounti
Local Bounti Corporation (NYSE: LOCL, LOCL WS), is changing how
food is grown and delivered to kitchen tables by utilizing
patent-pending Stack & Flow Technology™ to locally
grow a variety of fresh, delicious, and sustainable products 365
days a year and distribute nationally with the largest distribution
footprint in the controlled environment agriculture industry. The
company operates advanced indoor facilities with its two brands:
Local Bounti® and Pete's®, reducing the food
miles required to ship to consumers across the United States. Our team is delivering on
Local Bounti's promise to increase produce shelf life, reduce
waste, conserve water, address food scarcity in local communities,
and lower GHG emissions. To find out more,
visit localbounti.com or eatpetes.com, or follow Local
Bounti on LinkedIn for the latest news and
developments.
If interested in interviewing Local Bounti executives or
learning about the company's products and operations, including
patent-pending Stack & Flow
Technology™, please contact
press@localbounti.com. For investor news and information, please
contact investors@localbounti.com.
About Sprouts Farmers
Market
Sprouts is the place where goodness grows. True to its
farm-stand heritage, Sprouts offers a unique grocery experience
featuring an open layout with fresh produce at the heart of the
store. Sprouts inspires wellness naturally with a carefully curated
assortment of better-for-you products paired with purpose-driven
people. The healthy grocer continues to bring the latest in
wholesome, innovative products made with lifestyle-friendly
ingredients such as organic, plant-based and gluten-free.
Headquartered in Phoenix, and one
of the largest and fastest growing specialty retailers of fresh,
natural and organic food in the United
States, Sprouts employs approximately 31,000 team members
and operates approximately 380 stores in 23 states nationwide. This
year Sprouts celebrates its 20th anniversary. To learn more
about Sprouts, and the good it brings communities, visit
about.sprouts.com.
Forward-Looking
Statements
This press release includes "forward-looking statements" within
the meaning of 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 the use of
terms such as "expect," "will," "continue," "believe," expect,"
"estimate," "project," "intend," "should," "is to be," or similar
expressions, and variations or negatives of these words, but the
absence of these words does not mean that a statement is not
forward-looking. All statements other than statements of historical
fact are statements that could be deemed forward-looking
statements, including, but not limited to: statements regarding the
launch of new product offerings. These statements are subject to
known and unknown risks, uncertainties and other factors that may
cause our actual results, levels of activity, performance or
achievements to differ materially from results expressed or implied
in this press release. 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; Local Bounti's ability to
repay, refinance, restructure and/or extend its indebtedness as it
comes due; and unknown liabilities that may be assumed in the
transaction; 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 decrease its cost of goods sold over time;
potential for damage to or problems with Local Bounti's CEA
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 such statement is based.
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SOURCE Local Bounti