- Forbidden Foods (FFF) has announced four of its product ranges will be stocked across FoodWorks' national stores from 2021
- FoodWorks is an Australian supermarket chain run by independent retailer, Australian United Retailers which reports around $2 billion in annual sales
- Importantly, this the first deal Forbidden Foods has secured since listing on the ASX in August
- Forbidden Foods stocks a range of health products, including Funch-branded baby foods, wholesome snacks, plant-based flours and organic apple cider vinegar
- Pleasingly, initial revenue is expected to be around $1.8 million per annum
- Company shares have dropped 5.97 per cent to trade for 31.5 cents
Forbidden Foods (FFF) has announced that four of its product ranges will be stocked in FoodWorks' national store network from 2021.
FoodWorks is an Australian supermarket chain run by independent retail group, Australian United Retailers (AUR). It came about following a merger between FoodWorks Supermarket Group and Australian United Retailers in 2004.
AUR now comprises over 500 independent supermarkets and convenience stores, reporting around $2 billion in annual sales.
"FoodWorks / AUR’s 500+ strong network of local and community focused supermarkets gives us a significant opportunity with our FUNCH & Sensory Mill brand to engage shoppers and build trust, in particular in baby foods and plant-based foods where we have 100% Australian Made and can talk to the provenance of our ingredients," Forbidden Foods Co-founder and Chief Operating Officer Jarrod Milani said.
Importantly, this deal marks the first deal Forbidden Foods has secured, since listing on the ASX on August 31.
The company made an Initial Public Offering (IPO) which raised $6 million to assist with funding its expansion across the market and consider new product ranges.
The products that will be rolled out in FoodWorks' stores include FUNCH Baby Foods, FUNCH Healthy Snacks, Sensory Mill Plant-Based Flours and Sensory Mill Organic Apple Cider Vinegar.
"We think Forbidden Foods has a range of innovative and quality products our stores and customers will love. We also think the 100% Australian Made ingredients will resonate strongly with our customers," AUR Direct Manager Nic Ciampa said.
Initial revenue is expected to be around $1.8 million per annum and the products are scheduled to be rolled out nationally from January next year.
Company shares have dropped 5.97 per cent to trade for 31.5 cents at 3:46 pm AEDT.