Join our daily newsletter At The Bell to receive exclusive market insights
- Hemp specialist Australian Primary Hemp (APH) has struck a retail distribution deal with 7-Eleven for APH’s Mt Elephant hemp snack bars
- The deal will see three flavours of Mt Elephant snack bars stocked in 720 stores across Australia and gives APH access to a significant consumer base
- All up, APH and 7-Eleven expect to table between $1 million and $1.4 million in annual revenue from Mt Elephant snack bar sales
- The company says the snack bars were developed in response to growing consumer demand for high-quality, plant-based “superfoods”
- Since launching the Mt Elephant brand in September, the company has already been able to stock the snack bar in 400 stores across Australia
- Shares in Australian Primary Hemp closed grey today and worth 17 cents each
Australian Primary Hemp (APH) has struck a retail distribution deal with 7-Eleven for APH’s Mt Elephant hemp snack bars.
The deal makes the well-known convenient store the first major retailer in Australia to stock the Mt Elephant range — exposing APH’s hemp brand to over 720 stores across the nation and a significant consumer base.
The deal comes as part of 7-Eleven’s annual category review process. As part of the deal, 7-Eleven will stock three Mt Elephant flavours from March 22, 2021: Apricot & Nut, Honey & Nut, and Salted Caramel.
On top of this, the distribution agreement comes with a promotional program and a marketing plan to support sales.
All up, APH and 7-Eleven expect to table between $1 million and $1.4 million in annual Mt Elephant sales.
APH Managing Director and CEO Neale Joseph said since launching the Mt Elephant brand in September, the company has already been able to stock the snack bar in 400 stores across Australia. None of these stores, however, are as big as 7-Eleven.
“The arrangement with 7-Eleven shows the mainstream appeal of our convenient plant-based snack bars and is a significant step forward in APH’s commercialisation and distribution plans,” Neale said.
“We expect customers will enjoy the convenience of being able to purchase healthy, plant-based snacks from 7-Eleven’s extensive store network and experience the ‘superfood’ benefits of hemp,” he said.
APH said the Mt Elephant products have been developed in response to growing consumer demand for high-quality, plant-based superfoods. The company touts the hemp-based snack bars as a nutritionally dense source of Omega-3 and -6, magnesium, and gamma Linoleic acid (GLA).
Nevertheless, shares in APH didn’t have a chance to get up and running before the ASX closed amid tech issues today. Shares in APH closed grey this morning at 17 cents each.
