Australian Primary Hemp (ASX:APH) buds second retail distribution agreement with Coles

  • Australian Primary Hemp (APH) has confirmed a retail distribution agreement with Coles Group to carry five additional products from its ‘Mt. Elephant’ range, in stores from July 2021
  • Under the terms of the agreement, Coles will stock Mt. Elephant Almond and Buckwheat Pancakes in two flavours, plus three varieties of Superfood Protein Balls
  • APH expects this agreement will generate sales revenue of around $3 million per year from July 2021, marking the company’s largest distribution agreement to date
  • Australian Primary Hemp is up 6.76 per cent, trading at 39.5 cents

Australian Primary Hemp (APH) has confirmed a retail distribution agreement with Coles Group to carry five additional products from its ‘Mt. Elephant’ range in stores from July 2021.

The distribution agreement follows a previous arrangement with Coles for the Mt Elephant Mylk products.

APH expects this agreement will generate sales revenue of around $3 million per year from July 2021, marking the company’s largest distribution agreement to date.

Under the terms of the agreement, Coles will stock Mt. Elephant Almond and Buckwheat Pancakes in two flavours and Superfood Protein Balls in chocolate, choc-cherry and hazelnut.

All products in APH’s Mt. Elephant range contain variations of hemp seeds, flour or protein derived from 100 per cent Australia-grown hemp.

“This latest agreement with Coles represents APH’s largest retail distribution agreement with any retail partner, and we are proud to see Coles recognise the Mt. Elephant product range,” said APH Managing Director and CEO Neal Joseph.

“We look forward to further potential agreements in the future as we further our company’s development in becoming a producer, manufacturer, and distributor of premium hemp-based products.”

Australian Primary Hemp is up 6.76 per cent on the back of this news, trading at 39.5 cents at 1:15 pm AEST.

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