PlantX acquires majority interests in Eh Coffee and Portfolio Coffee
PlantX Life Inc. , a Toronto based company, has acquired majority equity interests in each of Eh Coffee Corp. and Portfolio Coffee Inc. With this acquisition, PlantX plans to sell the Companies' products on its online platform and its physical locations. PlantX will also exclusively use these curated beans to make the coffee beverages in its state-of-the-art cafe's located in XMarket Squamish, XMarket Venice Beach, XMarket Hillcrest, XMarket Tel Aviv, and the two upcoming XMarkets located in Hudson's Bay stores (Yorkdale & Rideau). By featuring the Portfolio brand at the XMarket Cafés, PlantX can offer same day delivery throughout Vancouver, Los Angeles, San Diego, Tel Aviv, Toronto and Ottawa.
PlantX will also leverage its e-commerce knowledge and distribution experience to bring Portfolio Coffee's e-commerce subscription to new heights, similar to PlantX's ramping of both the Bloombox Club and Little West businesses through the integration of a subscription-based model.
Headquartered in Toronto, Ontario, Eh Coffee sources specialty coffee beans from renowned family farms worldwide and roasts these in Canada. Branded "Portfolio" – Portfolio Coffee distributes these wide ranges of specialty coffees, featuring different roasts, flavour profiles and regions. Portfolio Coffee prides itself on its direct trade approach that empowers local farmers, and its direct-to-consumer green, sustainable packaging. According to the companies’s statements, all portions of the Eh Coffee to Portfolio Coffee supply chain remain transparent – ensuring origin, quality and consistency. Typically, this calibre of coffee is only available for coffee shops, but through Portfolio Coffee, is made accessible to everyday consumers. All Portfolio Coffee ranks 80 and above on the Specialty Coffee Association scale, delivering the most delicious coffee to homes. Eh Coffee has similarly built a successful distribution model, supplying many leading specialty coffee shops in Canada, including Dineen Coffee Company.
The visionaries behind Eh Coffee and Portfolio Coffee are founders Jacob Fortier, Victor Nucci and Andre Dalben, who remain the companies' operators. They bring decades of experience to PlantX in this new chapter of growth.
"We are very excited to join the PlantX team and bring the joys of coffee drinking and connoisseurship to XMarket stores and PlantX consumers," collectively stated the founders. "We believe that curated farm-to-cup specialty coffee from renowned crop growing regions is the sustainable path of the future for specialty coffee."
PlantX plans on distributing globally through the continuation of the local Canadian EH Coffee roasting business, driving growth of Portfolio Coffee's subscription model for tailored coffee delivery, distribution of a wide range of Portfolio Coffee at PlantX's online platform, as well as launching cafés serving Portfolio Coffee in the brick-and-mortar XMarket locations.
"We are delighted to welcome the Eh Coffee and Portfolio Coffee teams to the fold of the PlantX family," stated the CEO of PlantX, Lorne Rapkin. "Coffee is perhaps the most widely accepted plant-based product – and a universal drink to start our days. We are beyond thrilled to join together our teams to launch the Portfolio Coffee offerings roasted right here in Canada for a farm to cup experience of premium specialty coffees on the PlantX website, XMarket stores and future cafés."