Nuchev (ASX:NUC) - CEO, Ben Dingle
CEO, Ben Dingle
Source: Geelong Advertiser
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Nutritional food business Nuchev (NUC) has ticked off a number of milestones as part of its growth strategy to expand its presence in China
  • Amongst these wins is a new partnership with top tier distributor, Blue Ocean International
  • Blue Ocean will manage sales and distribution of Nuchev’s premium Oli6 goat infant formula across China
  • The company has also appointed Owens Chan as Non-Executive Director
  • Owens has more than 30 years’ experience in senior sales and distribution roles for leading consumer goods companies across Asia
  • Finally, after a successful listing on the ASX at the end of last year, Non-Executive Director and substantial shareholder, David Whyte, will step down from his role
  • Company shares traded 4.84 per cent higher for $1.95 just before market close today

Nutritional food business Nuchev (NUC) has ticked off a number of milestones as part of its growth strategy to expand its presence in China.

Partnership

Nuchev has partnered with top tier distributor, Blue Ocean International, to manage sales and distribution of its premium Oli6 goat infant formula across China.

“The team at Blue Ocean International were a strong choice in partner given their extensive successful experience in representing leading international brands, and working in the infant formula and nutrition industries,” Nuchev CEO Ben Dingle said.

This partnership is set to complement Nuchev’s distribution arrangements – particularly across multiple online and offline platforms that are popular amongst Chinese consumers.

Director changes

To further support growth aspirations, Nuchev has appointed Owens Chan as Non-Executive Director of the company.

Owens has more than 30 years’ experience in senior sales and distribution roles for leading consumer goods companies across Asia.

Between 2005 and 2018, Owens led sales, trade marketing and distribution for Mead Johnson Nutrition in China, which is a global nutrition company.

“We are confident that with Mr Chan’s expertise, our flagship Oli6 brand will continue to grow in both distribution and popularity amongst all of our end consumers,” Nuchev Chairman Justin Breheny said.

Nuchev has also advised Non-Executive Director and substantial shareholder, David Whyte, will step down from the board of directors after four years — effective immediately.

The company said his departure reflects the company’s successful IPO and transition to an ASX-listed company in December last year.

“David has been a valued member of the Board, providing sound counsel to the executive management team and we appreciate that he remained on the Board until we announced our full year results in August,” Justin stated.

Company shares traded 4.84 per cent higher for $1.95 just before market close today.

NUC by the numbers
More From The Market Herald
The Market Herald Video

" Bubs Australia (ASX:BUB) completes $40.1m institutional cap raise

Infant nutrition and dairy specialist Bubs Australia (ASX:BUB) has raised $40.1 million through the institutional component…

" Good Drinks Australia (ASX:GDA) commences the sale of Molson Coors and Magners

Good Drinks Australia (ASX:GDA) begins to sell the Miller Chill, Miller Genuine Draught, Coors, Molson Canadian…

" Bubs Australia (ASX:BUB) halts trade ahead of $63m equity raising

Bubs Australia (ASX:BUB) halts trade ahead of its underwritten $63 million capital raise to support the…
The Market Herald Video

" Bubs Australia (ASX:BUB) to land fourth plane in the US, enters new supply agreements

Bubs Australia (ASX:BUB) has struck supply agreements with two new US retailer banner groups, H-E-B Grocery…