Business
Beyond Oil Signs Commercial Sales Agreement with Cafe Cafe Franchisee in Israel
VANCOUVER, BC and KIBBUTZ YIFAT, ISRAEL / ACCESSWIRE / September 1, 2022 / Beyond Oil Ltd. (...
About this update from Beyond Oil Ltd
[{"type":"text","content":"Beyond Oil Signs Commercial Sales Agreement with Cafe Cafe Franchisee in IsraelVANCOUVER, BC and KIBBUTZ YIFAT, ISRAEL / ACCESSWIRE / September 1, 2022 / Beyond Oil Ltd. (CSE:BOIL) (\"Beyond Oil\" or the \"Company\"), a food-tech innovation company extending the life of frying oil, reducing costs and waste, is pleased to announce that it has signed its first commercial sales agreement with a franchisee of Café Café, a leading food service chain in Israel (the \"Café Café\").Café Café is the largest coffee chain in Israel with more than 200 locations across the country. The Beyond Oil product will initially be sold to 4 or 5 outlets of the chain in the North of Israel, followed by expansion to other outlets throughout Israel. Under the terms of the agreement, Beyond Oil will supply the Café Café franchisee with product, in quantities requested by the franchisee, on an ongoing basis.\"After seeing the results in my own restaurants, I can say that this product is outstanding,\" said Café Café Restaurant Owner, Itamar Sharabi. \"I'm very honored to be the first franchisee in Israel to adopt this innovative solution which will help us continue to provide our customers with tastier and healthier food.\"\"This is a defining moment for Beyond Oil as the Company moves to the next and most important level in the business, which is commercial sales,\" said Dr. Tamir Gedo, CEO of Beyond Oil. \"The Israeli market is innovative, an early adopter, and is ready for our disruptive solution. Restaurant owners are searching for new ways to cut operational costs and consumers are seeking a low-cost alternative while incorporating healthier menu options. These behaviors combined have the potential to create a significant shift towards a healthier and more sustainable future in the Israeli food service market.\"In 2016, Israel's food service sector was valued at approximately $6.6 billion, with almost 13,000 consumer food service businesses in 20201. In recent years, the industry has experienced an increase in the price of raw materials, electricity, water, taxes, and manpower, forcing many food service chains and restaurants to seek out effective ways to reduce costs and stay profitable. Although employment and salaries have risen, price levels for menu items across Israel remain among the highest in...