Recently listed Wattle Health Australia (ASX:WHA) has signed an agreement with one of the largest retailers of mother and baby products in China - Aiyingdao Zhuhai Business Chain.
As part of the agreement, Wattle Health will commence initial supply of its infant formula to 100 key stores of Aiyingdao across mainland China.
It is worth noting that Aiyingdao’s network is responsible for 40% of all infant formula sales in China, with over 1000 retail store locations.
The companies are also commencing negotiations to formalise a long-term supply agreement to market infant formula across the entire Aiyingdao network in mainland China.
Based in Melbourne Victoria, Wattle Health is in the business of developing and marketing consumer food products, with an initial focus on dairy products (dried milk and infant formula).
The company listed on the ASX in March 2017 after raising $8 million from an oversubscribed initial public offer.
Interestingly, the company’s shares were last trading at $0.40, double the issue price of $0.20.
Wattle Health uses only Australian manufacturers to manufacture its products.
This is intended to promote and leverage on the brand positively in Australia and in export markets, as there is growing consumer sentiment for Australian made food products.