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Murray River Organics (ASX:MRG) - CEO, Valentina Tripp - The Market Herald
CEO, Valentina Tripp
Source: Thorney Opportunities
  • Murray River Organics (MRG) has secured a $2.3 million branded deal with Woolworths
  • In September, the company will launch five new branded Murray River Organics products across 600 Woolworths stores
  • An additional four seasonal products will then be available in the period leading up to Christmas
  • The company is expected to receive $2.3 million per year from this partnership
  • Murray River Organics has ended the day 6.67 per cent in the green with shares trading for 1.6 cents each

Murray River Organics (MRG) has secured a $2.3 million branded deal with Woolworths.

In September, the company will launch five new branded Murray River Organics products across 600 Woolworths stores.

An additional four seasonal products will then be available in the period leading up to Christmas.

Murray River Organics is expected to receive $2.3 million per year.

This partnership with Woolworths follows one with Coles entered last month in the breakfast cereals category.

This launch was backed by a new communications program consisting of a new website, and Facebook and Instagram platforms.

"The launch of our MRO branded muesli in Coles has been successful taking the top spot from the 26 newly launched products in the category in the launch week," CEO Valentina Tripp commented.

"Our partnerships with Coles and Woolworths follows significant investments over the last 12 months to develop the Murray River Organics brand proposition aligned to our strategy and purpose," she said.

Murray River Organics is now working on the next stage of Project Magnum and is developing the pilot facility.

Project Magnum will see the company grow low-THC cannabis at its Nangiloc property in North Western Victoria. First sow is expected to occur in 2021.

Murray River Organics has ended the day 6.67 per cent in the green with shares trading for 1.6 cents each in a $33.08 million market cap.


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