MIAMI BEACH, Fla., April 27, 2020 (GLOBE NEWSWIRE) — Gratitude Health, Inc. (OTCQB: GRTD) (the “Company”) by its not too long ago acquired wholly-owned subsidiary, Home Bistro, Inc., at the moment offered its outlook for the web meals supply market and Home Bistro’s development aims.
The total meal supply market is at present divided into three main segments; restaurant supply, meal-kits and ready meals/food regimen plans. According to a number one, international monetary companies firm, “Driven by these three trends – lower production costs, improved logistics and strong demographics – we estimate the global online food ordering market could grow more than tenfold over the next decade or so, to $365bn by 2030 from $35bn today .”1
As shoppers develop into more and more time-starved and convenience-seeking, they’ve aggressively sought out options to cooking at residence or ordering take-out. While meal-kit suppliers and third-party restaurant supply companies have attracted probably the most consideration over the previous couple of years, elevating substantial capital and reaching important development, ready meal supply companies have begun to proliferate the market and fill one more important void inside the sector.
Meal-kits vs. Third-Party Delivery vs. Prepared Meals
Business fashions for meal-kit suppliers, third-party supply companies and ready “heat-to-eat” meal firms, differ vastly from each other. Meal-kit firms similar to Blue Apron, Home Chef and Sun Basket, present prospects pre-portioned uncooked substances and recipes for a set variety of meals each week. Utilizing the substances and following the recipes, prospects create residence cooked meals. On common, meals take anyplace from 30-60 minutes for preparation and cooking and one other 15 minutes to scrub up.
Third-party on-line supply platforms similar to Grubhub, Uber Eats and DoorDash, supply entry to eating places’ menus through a single on-line portal. By logging on to a web site or cell app, shoppers can shortly examine menus, costs and evaluations. Customers then order immediately from the app and cooked meals are delivered – sometimes – inside 60 minutes by the restaurant, third social gathering supply service or the app platform itself.
Lastly, the ready, heat-to-eat, meal supply phase (during which Home Bistro operates) ships recent and fresh-frozen, fully-cooked meals direct-to-consumer. On common, these meals require heating for 3 to 5 minutes and they’re able to eat. The expertise is extraordinarily handy and requires little or no cleanup. The meals can sometimes be bought individually, as combo packages or month-to-month subscriptions.
The Company’s CEO, Zalmi Duchman, said, “Favorable demographics have been helping fuel a positive trend toward convenience to satisfy dining habits of time-conscious consumers. Recent shopping and dining restrictions imposed by the COVID-19 crisis guidelines are further enhancing behavioral trends towards online, ready-made meal services. These trends could be the basis for a new and permanent segment of consumers who adopt online, ready-made meal services as a routine dining option.”
Home Bistro’s Growth Objectives
The Company has traditionally been centered on creating its “Home Bistro” model (www.homebistro.com), a top quality, gourmand line of ready-made meals. He added, “While we’ll proceed to concentrate on rising the Home Bistro model, we imagine alternatives to develop into a number of different areas exist and are exploring the next:
- Internally creating new verticals that may be readily and affordably launched. We imagine there are fascinating and distinct wants which can be prevalent out there that we will tackle with out important lead instances or working capital.
- Evaluating potential acquisitions of present manufacturers which can be mutually complimentary with Home Bistro. The ready meal supply phase is extraordinarily fragmented with quite a few, small suppliers servicing different “in-demand” niches, similar to weight-loss/food regimen plans, high-protein, paleo, keto, and so forth.”
Mr. Duchman concluded, “Simply stated, our goal is to become a premier, online provider of high-quality, ready-made meal brands servicing in-demand niches and delivered direct-to-consumer.”
|1||“Is The Kitchen Dead?”, UBS, June, 18, 2018|
About Gratitude Health, Inc.
On April 20, 2020, the Company introduced that it accomplished the acquisition of Home Bistro, Inc. in an all-stock transaction. The Company plans to vary its title to “Home Bistro, Inc.” and request a change to its ticker image as quickly as doable and upon approval from the Secretary of State of Nevada and the Financial Industry Regulatory Authority.
Please discuss with the Company’ Current Report on Form Eight-Ok which incorporates extra detailed info relating to the merger transaction and the Company which was filed with the Securities and Exchange Commission on April 22, 2020.
About Home Bistro, Inc.
Founded in 2014, Home Bistro gives prime quality, direct-to-consumer, ready-made gourmand meals at www.homebistro.com and restaurant high quality meats and seafood by its Colorado Prime model.
This information launch incorporates forward-looking statements and forward-looking info inside the that means of relevant securities legal guidelines. These statements relate to future occasions or future efficiency. All statements aside from statements of historic reality could also be forward-looking statements or info. Generally, forward-looking statements and info could also be recognized by means of forward-looking terminology similar to “plans”, “ expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such phrases and phrases, or by means of phrases or phrases which state that sure actions, occasions or outcomes might, may, would, or may happen or be achieved. More notably and with out limitation, this information launch incorporates forward-looking statements and info regarding the Company’s development aims and trade outlook (as described herein). Forward-looking statements include statements that aren’t purely historic, together with any statements relating to beliefs, plans, expectations or intentions relating to the long run. These forward-looking statements embrace, amongst others, statements about Gratitude’s future monetary efficiency, the impression of administration adjustments, any organizational restructuring and the sufficiency of capital sources to fund its ongoing working necessities; statements about Gratitude’s expectations relating to the capitalization, sources and possession construction of the mixed firm; statements concerning the potential advantages of the transaction; and every other statements aside from statements of historic reality. Actual outcomes or occasions may differ materially from the plans, intentions and expectations disclosed within the forward-looking statements that Gratitude makes as a result of a lot of vital components, together with (i) dangers associated to the flexibility to appreciate the anticipated advantages of the transaction, (ii) dangers associated to the mixed entity’s entry to present capital and fundraising prospects to fund its ongoing operations, and (iii) different enterprise results, together with the consequences of trade, market, financial, political or regulatory circumstances, future change and rates of interest, and adjustments in tax and different legal guidelines, rules, charges and insurance policies, together with the impression of COVID-19 on the broader market. Readers are cautioned to not place undue reliance on forward-looking statements, as there could be no assurance that the plans, intentions or expectations upon which they’re primarily based will happen. By their nature, forward-looking statements contain quite a few assumptions, identified and unknown dangers and uncertainties, each basic and particular that contribute to the likelihood that the predictions, estimates, forecasts, projections and different forward-looking statements is not going to happen.
The forward-looking statements contained on this press launch are made as of the date of this press launch. Except as required by regulation, the Company disclaims any intention and assumes no obligation to replace or revise any forward-looking statements, whether or not on account of new info, future occasions or in any other case. Detailed info relating to components which will trigger precise outcomes to vary materially from the outcomes expressed or implied by statements on this press launch referring to the Company could also be discovered within the Company’s periodic filings with the Securities and Exchange Commission, together with the components described within the sections entitled “Risk Factors”, copies of which can be obtained from the SEC’s web site at www.sec.gov. Additionally, the Company undertakes no obligation to touch upon the expectations of, or statements made by, third events in respect of the issues mentioned above.
Zalmi Duchman, CEO