Vibe Mushrooms Inc. Acquires Established Mushroom Extract Brand Qi Mushrooms to Accelerate Growth and Bolster Supply Chain
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March 16, 2022 – TheNewswire - Gibsons, British Columbia – Vibe Mushrooms Inc. (Vibe) announces the concluded acquisition of Qi Mushrooms (Qi) as of March 10, 2022. The acquisition will bring Qi's experience to the ongoing research and development at Vibe for an improved final product.
With Vibe in early development, this acquisition is timed for rapid evolution in the functional mushroom space by using Qi Mushroom’s existing systems to elevate Vibe Mushroom’s ideal final products. Backed by the highly skilled, experienced team and strong research and development pipeline of Qi, Vibe is on track for meaningful revenue within its first-year post-launch.
Established in 2020, Qi Mushrooms is a consumer brand specializing in mushroom extracts with a uniquely rigorous, third-party testing protocol. The tests ensure all products are free of heavy metals and pesticides, and results are publicly available on their website to inform consumers. This transparency has gained the trust of mycological enthusiasts and amassed an extensive customer base.
Adrian Burke, Vibe CEO: “I have always been a fan of the work Qi Mushrooms does, so when I learned it was headed off by Chester I wasn’t surprised. He has always brought technical savviness and an elevated level of thoughtfulness to his business executions. We’re truly thrilled to have him help ingrain Vibe’s position as we bring the strongest mushroom extracts to the market.”
Qi’s formulation decisions are based on the latest science to determine extraction methods, micro-fraction concentrations, and what part of the mushroom anatomy is best for achieving the desired results. By introducing their research processes to Vibe’s, the resulting product will more effectively utilize the mushroom for a stronger extract for consumers. Additionally, the supply chain will be significant as Vibe expands their wholesale ingredient division.
Chester Ku, Qi Mushroom Founder: “I am excited to be joining forces with Vibe Mushrooms to bring science-backed mushroom formulations to the world. Adrian and I have built up a strong working relationship that dates back over 15 years. This has culminated in a strong synergy and shared vision between us, and we see this recent collaboration as a natural evolution of our association. Needless to say, I am looking forward to this journey!”
Chester will remain on the management team as the Chief Business Development Office and assist with the transition strategy and upcoming launch of Vibe Mushrooms slated for early May 2022.
Press Contact
Sarah Fowler
Chief Marketing Officer
Sarah@vibemushrooms.ca
About Vibe Mushrooms Inc.
Vibe Mushrooms™ is a passionate eco-centric company focused on the benefits of functional mushrooms for health, wellness, and global sustainability.