Supplier of Australian food products to China, The Food Revolution Group (ASX: FOD) has inked a distribution deal which will net $8 million in sales in the next year.
The company has signed a memorandum of understanding (MoU) with international cross-border e-commerce platform, ICC Global to supply its Australian juices and processed products such as citrus oil.
ICC also plans to sell Food Global’s newly developed sachet and gel products containing marine proteins and collagen when launched in 2020.
FOD executive chairman Norman Li said the agreement was another step in developing the company’s unconventional sales channels into China.
FOD exploits the personal exporter (daigou) market into China and recently hosted 70 daigou at its Mill Park facility in Melbourne.
Li said: “We had a very successful daigou visit to the factory with the distributors very impressed with our facility, brands and capabilities.
“Further distribution deals will be forthcoming.”
The latest deal with ICC will see shipments commence in June.
In January @AuManufacturing reported FOD was expanding its Mill Part facility to produce a wider range including fruit fibres and fruit infused waters for export.
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