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- Pure Foods Tasmania (PFT) has secured a sole national distribution agreement with Monde Nissin Australia to supply Tasmanian Atlantic Salmon and Ocean Trout products
- The sole supplier agreement is set to see PFT’s Woodbridge Smokehouse exclusively provide products to Monde Nissin Australia
- Pure Foods said the agreement could increase Woodbridge Smokehouse’s revenue more than 50 per cent in FY22 and add around 15 per cent to group revenue
- Broadly, the company affirms gaining access to Monde Nissan’s distribution network will provide significant opportunities for the Woodbridge Smokehouse brand
- Pure Foods Tasmania shares are up 8.73 per cent following the announcement, trading at 68.5 cents
Pure Foods Tasmania (PFT) has secured a sole national distribution agreement with Monde Nissin Australia to supply Tasmanian Atlantic Salmon and Ocean Trout products.
The sole supplier agreement is set to see PFT’s Woodbridge Smokehouse exclusively provide products to Monde Nissin Australia (MNA) to support its national portfolio of products servicing the independent grocer market.
Pure Foods anticipates the deal could increase Woodbridge Smokehouse’s revenue
by over 50 per cent in FY22 compared to FY21 and add around 15 per cent to group revenue in FY22 based on preliminary orders.
Further to this, MNA’s distribution network is expected to extend into Queensland in July 2021 which PFT speculates could open more opportunities for its products.
Pure Foods Tasmania’s Managing Director Michael Cooper said the company was excited to be strengthening the relationship with MNA.
“The position of PFT as the sole supplier of Atlantic Salmon and Trout products to the Monde Nissan distribution network will provide significant growth opportunities for our Woodbridge Smokehouse brand,” he commented.
The agreement has a five-year term with an option to extend for a further three years.
Pure Foods Tasmania shares are up 8.73 per cent following the announcement, trading at 68.5 cents at 12:46 pm AEST.
