- Australian Primary Hemp (APH) has secured a retail distribution agreement with supermarket giant Coles (COL)
- The plant-based health company will see two of its Mt. Elephant mylk products distributed in over 140 Coles stores on Australia’s east coast
- The vegan products include a hemp and oat mylk and a chocolate and hemp mylk — both of which are described as low in saturated fats and packed with vitamins and minerals
- Significantly, this follows APH signing an agreement with Woolworths (WOW) to distribute the same two products in 140 stores across the country
- APH expects the Coles deal to generate around $200,000 in sales revenue per annum once the products start rolling out from April this year
- Company shares are up 6.9 per cent and trading at 46.5 cents
Australian Primary Hemp (APH) has secured a retail distribution agreement with Coles Supermarkets Australia (COL).
Under the deal, APH’s Mt. Elephant ‘mylk’ hemp and oat milk will be carried in over 140 Coles stores across Australia’s east coast from April this year.
These two mylk products are a barista/original oat and hemp mylk and a chocolate oat and hemp mylk which have been trialled with a number of baristas in Melbourne to perfect the texture and flavour.
Mt. Elephant mylk is low in saturated fats, cholesterol-free, packed with vitamins, minerals and essential amino acids, and is 100 per cent vegan.
Strategically, this distribution deal comes at a time when demand for plant-based milk continues to soar as consumers seek nutritious alternatives to dairy milk other than soy or almond milk.
“This distribution agreement with Coles further reinforces our observations on the growing demand for high-quality, plant-based superfoods and is a significant step on our path towards further commercialisation of Mt. Elephant branded product lines,” APH Managing Director and CEO Neale Joseph said.
APH expects the Coles agreement to generate around $200,000 in sales revenue per annum once the products start rolling out.
“This is just the beginning for our mylk products, and we are excited to see Coles stock the line later this year,” he added.
Significantly, this agreement follows the company signing a distribution deal with Coles’ supermarket competitor, Woolworths (WOW) last month.
The agreement with Woolworths involved the same two mylk products being distributed across 140 Woolworths stores in Australia from April.