Image Sourced ShutterStock
The Market Herald - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Keytone Dairy has signed a manufacturing and supply contract with Walmart China to offer its whole milk and skim milk powder to Walmart’s Sam Club in China
  • Sam’s Club has developed 800 chain clubs globally and provides its services to over 50 million personal and business members

Keytone Dairy has been awarded a contract by Chinese Walmart Investment Limited to manufacture its milk powder for Sam’s Club West.

Sam’s Club, a wholly owned subsidiary owned by Walmart, is a membership-only retail warehouse club based in the United States.

Since the opening of its first store in 1983, Sam’s has expanded to 597 clubs in the US and 208 internationally (China, Mexico and Brazil), this expansion has made Sam’s Club one of the largest membership clubs internationally.

Sam’s currently has 800 chain clubs globally and provides its services to over 50 million businesses and individual members. Its services include bulk groceries and general merchandise such as household appliances, homewares and apparel.

Based in Sydney, Keytone Dairy is a manufacturer and exporter of formulated dairy products. It offers a wide range of dairy and nutrition packaging solutions for both global and local markets.

Under the contract Keytone will manufacture and provide Walmart China with Sam’s Club whole milk and skim milk powder. While the contract does not outline specific amounts to be delivered rather it outlines the terms on which Keytone will contract manufacture Sam’s Club Chinese products.

Keytone Dairy’s CEO James Gong is confident that the contract will be beneficial to both.

“This contract further validates the Keytone Dairy credentials into China as the Company continues to work and partner with global names and execute in line with its four pillar growth strategy,” he said.

“The fact that a brand of this calibre has entrusted Keytone Dairy with manufacturing its branded product is both a major milestone for the Company and an indicator of the Company’s ability and reputation in its target market.”

KTD by the numbers
More From The Market Herald

The Calmer Co locks in $700k in funding via convertible note issue

The Calmer Co (ASX:CCO) has confirmed its receipt of $700,000 in funding from existing shareholders.

FDA greenlights Botanix Pharmaceuticals’ Sofdra resubmission plan

FDA approves Botanix's strategy for Sofdra NDA resubmission with no additional materials requested, keeping submission to…
The Market Herald Video

Calmer Co clocks 70pc e-store growth – and a 2024 Rugby partnership

Calmer Co (CCO) has reported a 70 per cent increase in e-store sales in the month…

Botanix Pharmaceuticals successfully closes $13.5m Placement to boost US commercial activities

Botanix Pharmaceuticals (ASX: BOT) has closed its $13.5 million placement to both new and existing institutional…