EDC Among Lead Investors of Emerging Gut-Health Food Company
Montreal, QC (June 8th, 2020) – Export Development Canada (EDC) joins New Acres Capital Ag & Food; Jonathan Ross Goodman, founder and former CEO of publicly traded Paladin Labs Inc., and current founder and CEO of publicly-traded Knight Therapeutics Inc. (TSX:GUD); and Steven J. Singer, co-founder of Glutino and founder and CEO of Fody Foods as lead investors in Fody™ Food Co., a leading gut health food company with a mission to bring the joy of eating back to those suffering from digestive issues such as Irritable Bowel Syndrome (IBS).
“We’ve already helped millions of people living with celiac disease feel better. Now, our low FODMAP products from Fody will help the more than 45 million North Americans living with some form of irritable bowel syndrome (IBS), who find eating is a source of stress, not pleasure,” Singer said.
“We are excited to partner with EDC, whose investment team moved very quickly to support us, even as their services are more in demand during this economic crisis.”
The low FODMAP diet removes garlic, onion, and honey, among other ingredients, from a person’s diet and is medically proven to help reduce some of the most uncomfortable symptoms associated with IBS, including cramping and bloating.
EDC’s support came through its new investment matching program, launched in response to the COVID-19 crisis. The investment is expected to allow Montreal-based Fody to expand its offerings of great-tasting, certified gut-friendly foods to touch people’s lives, and to accelerate its U.S. and Canadian distribution presence both online and in more than 5,000 retail stores across the two countries.
“EDC is proud to be supporting innovative Canadian companies, and it’s especially meaningful during this time of uncertainty,” said EDC’s executive vice-president and chief business officer Carl Burlock.
“Fody is a young company that is at the forefront of a rapidly evolving nutrition industry and they have demonstrated their ability to develop unique high value products for a growing market. We are thrilled to support this team of dynamic entrepreneurs.”
About Fody™ Food Co.
Fody™ Food Co. is committed to bringing back the joy in eating for the more than 45 million people suffering with IBS and other digestive discomforts. Fody is a one-stop shop for delicious, low FODMAP, gut-friendly products in a variety of categories including salsas, snack bars, sauces, condiments, dressings and seasonings. Fody Foods became a certified B Corp in 2020. To purchase products and for tips and recipes for living a low FODMAP lifestyle, visit www.fodyfoods.com.
EDC is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges brought on by the global response to COVID-19, the Government of Canada has expanded EDC’s domestic capabilities until December 31, 2021. This broader mandate will enable EDC to expand its support to companies focused domestically.