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(CSE:PLCN) Cannibble FoodTech Continues to Grow with Expansion into Australia & LOI for Acquisition of Eshbal Functional Foods

What is Cannible Foodtech?

What makes the Israel’s Cannibble Foodtech Ltd., (CSE: PLCN) special, is its uncommon production of technologically-enhanced food and beverages. It makes food that is diversely enhanced by hemp, hemp protein, and other various hemp ingredients (where it is legal to do so).

Marketing its sugar and dairy free, vegetarian, non GMO foods and beverages under the brand name of “The Pelicann™”, Cannibble has made its mark quite remarkably in Israel and the US.

Production and Selling Strategies

The food-tech company has made 100 products SKUs, out of which it has manufactured 40, till date. But that’s not the end of the story. It is in the continuous process of developing new kinds of differently enhanced products which vary in type, flavours, and nutritional benefits.

It has also started selling these products through e-commerce platforms such as Amazon and Walmart in the United States. A smart step; which has and will help more in reaching new heights of growth for the company.

Proposed Acquisition of Eshbal

End of August proved to be a shining star for Cannibble, as it announced its intent to enter into a partially binding acquisition with Eshbal Functional Foods Cooperative Ltd. This proposed acquisition, if successful, will extend Cannibble’s operations in the global health and wellness market.

This will be a significant step in the route to make Cannibble a leader of the US health and wellness market which, according to predictions, is to reach US$298.3 billion in the year 2022.

A Little Bit About Eshbal

Eshbal Functional Foods is also a private Israeli food company which specializes in the production of nutraceuticals, medicinal foods, sugar-free and gluten-free products, vegan products, syrups, and dry mixes. Similar to Cannibble, Eshbal’s products especially the gluten free food mixes – can be found in various supermarkets across Israel. Prioritizing on the unique formulations of the processed foods beyond their natural nutritional values – Eshbal brings special information and expertise in the food technology business.

Commercialsing in Australia

In other recent good news, a client from Australia has placed an order for the entire range of Pelicann™ hemp products which include the Hempshake and Hemp Mix (sugar free, dairy free, plant based and non GMO products). This buyer buys and sells mainly in health and wellness products (including Keto products) and thus, Cannibble fit his description perfectly.

The CEO, Yoav Bar Joseph, was quite ecstatic on this first international order for the company. He looks forward to a more engaging relationship with the Australian market, where he believes lies humongous potential for the growth of “better-for-you” products.

Future Potential

Pandemics as huge as the Covid-19, and other relatively lesser hazardous diseases have led to an increase in the demand for nutritionally enhanced products in the US, Canada, Japan, China, Europe and various other developed nations. People are becoming overly concerned about the adverse effects of the diseases that are blossoming at a much higher than usual rate in the world, especially on the vulnerable populations such as pregnant women, diabetics, and the elderly.

Even though these are hard times for the world, companies like Cannibble are in for a tremendous future, as “better-for-you” products are estimated to reach $183.7 Billion by 2026!

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