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    VOLAB   SE0013281979

VEG OF LUND AB (PUBL)

(VOLAB)
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Veg of Lund : plant-based drink DUG soon in Sweden's Willys, Hemk÷p and Tempo stores

08/19/2021 | 08:31am EDT

As of the end of September, DUG® will be on store shelves in around 450 Axfood owned stores. Veg of Lund has signed an agreement with the leading food retail group Axfood and its grocery store chains Willys, Hemköp and Tempo will soon offer Veg of Lund's plant-based potato drink DUG.

Axfood is leading food retail group in Sweden and the second largest in the market with a market share of approximately 20 percent. Tempo's 156 stores are mini-marts with good service and assortment. Hemköp's 211 stores offer an attractively priced, wide assortment, and with its 232 stores, Willys/hemma is Sweden's leading discount grocery chain, featuring a wide assortment in Group-owned stores and online.

"The agreement with Axfood is important for Veg of Lund. With Axfood we get access to another important player in the Swedish market and with a so-called Rapid Start we create fast distribution from the start. I look forward to offering DUG® Original and DUG®Barista to all customers who shop in Willys, Hemköp and Tempo stores," comments John Seaton, sales manager Veg of Lund.

"We are only at the beginning of our growth, and we are looking forward to all that lies ahead. The launch of DUG will, of course, be our focus in the forthcoming quarters, where we will see a significant increase in sales. In addition, we see good opportunities to increase the number of geographic markets and retailers over time in cooperation with partners," says Cecilia Lindwall.

More information about DUG and current points of sale can be found at dugdrinks.com.

 

For more information, please contact:

Veg of Lund AB
Cecilia Lindwall (CEO)
Telephone: +46 765 014 809
E-mail: cecilia.lindwall@vegoflund.se

 

About Veg of Lund
Veg of Lund develops unique plant-based foods meeting consumers' demands for taste and sustainability. The company has roots in research at Lund University and owns patented methods for developing new food categories in the fast-growing market for plant-based foods. Veg of Lund's climate-smart and tasty products are sold in Europe and Asia under the DUG® and MyFoodie® brands. The company's shares were listed on the Nasdaq First North Growth Market under ticker VOLAB. Read more at ir.vegoflund.se. Eminova Fondkommission AB is the company's Certified Adviser and can be contacted via telephone: +46 8 684 211 10 or e-mail: adviser@eminova.se.

https://news.cision.com/veg-of-lund/r/veg-of-lund-s-plant-based-drink-dug-soon-in-sweden-s-willys--hemkop-and-tempo-stores,c3399732

https://mb.cision.com/Main/18795/3399732/1456344.pdf

https://news.cision.com/veg-of-lund/i/axfood-logo,c2945396

(c) 2021 Cision. All rights reserved., source Press Releases - English

Stocks mentioned in the article
ChangeLast1st jan.
AXFOOD AB (PUBL) 1.95% 208.8 Delayed Quote.8.86%
VEG OF LUND AB (PUBL) 3.10% 36.6 Delayed Quote.232.73%
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Financials
Sales 2020 1,18 M 0,14 M 0,14 M
Net income 2020 -18,3 M -2,13 M -2,13 M
Net cash 2020 4,91 M 0,57 M 0,57 M
P/E ratio 2020 -6,12x
Yield 2020 -
Capitalization 447 M 52,0 M 52,0 M
EV / Sales 2019 -
EV / Sales 2020 94,6x
Nbr of Employees 4
Free-Float 48,2%
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Managers and Directors
Cecilia Lindwall Chief Executive Officer
Emma Kńllqvist Chief Financial Officer
Torbj÷rn Clementz Chairman
Ingrid Linda Marie Neckmar Independent Director
Anders Mikael Hńttmark Independent Director
Sector and Competitors