Coho Collective to Open Its Eighth Location in Canada Later This Year
At almost 20,000 square feet, the new shared kitchen space will be the largest in Metro Vancouver
Vancouver, British Columbia--(October 13, 2022) - Coho Collective (TSXV: COHO) ("Coho" or the "Company"), creator of Canada's premier commissary kitchen and food production spaces, is excited to announce the opening of a new facility ("Coho Pandora"), located at 1623 Pandora Street, Vancouver, British Columbia, by the end of 2022. Coho Pandora will solidify Coho's place as a leading shared kitchen space provider in Canada.
Coho Pandora, a 19,932 square foot facility, will offer space for over 40 businesses to operate from, including ghost kitchens, caterers, consumer packaged goods (CPG) companies, and act as a R&D hub for restaurants. Situated in East Vancouver's high-demand manufacturing district, it gives Coho members and businesses a central location to operate from, with access to many potential and diverse customers.
"Demand for commissary space in Vancouver continues to grow, with no signs of stopping, and Coho's waitlist currently sits at more than 400," says Andrew Barnes, CEO of Coho Collective. "We want to be proactive in meeting these demands and Coho Pandora will be the largest shared kitchen space in the city - providing more space for our members to thrive and further their businesses. This latest addition to our portfolio exemplifies our commitment to the shared kitchen industry - as a leader and pioneer in Canada."
Statista predicts ghost kitchens will hold a 50 percent share of the global drive-thru and takeaway foodservice markets which are forecasted to reach $75 billion and $250 billion, respectively, by 2030.1
About Coho Collective
Coho is a growth stage, community-driven, commercial real estate and food technology company that provides private and shared kitchen and production space to food companies from start-ups to restaurant groups seeking turnkey solutions and business services. Each of the Company's customers, called "Members", are revenue generating companies that have signed a membership agreement with Coho for an agreed upon term. The concept falls in line with a rapidly growing trend in the food-delivery industry for delivery-only and/or virtual restaurant concepts. For more information about how Coho is growing and innovating in the commissary space, visit https://www.cohocommissary.com.
Andrew Barnes, Chief Executive Officer
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management's current expectations regarding future events. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Such risks and uncertainties include, but are not limited to, Coho's ability to open the locations described in this press release substantially in accordance with the timelines indicated above, the ability of the Company to execute on its strategy, the growth and performance of the ghost kitchen industry globally and in Canada, and the factors discussed under "Risk Factors" in the final long-form prospectus of the Company dated May 27, 2022. Coho disclaims any obligation to update these forward-looking statements.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.