Australian Primary Hemp (APH) has announced today that it has secured a two-year exclusive supply agreement with Annex Foods – a leading Australian FMCG food manufacturer and marketer – for the supply of Australian grown hemp seeds.
Under the agreement which is valued at $760,000 Annex will use APH’s hemp seeds as ingredients for its products sold under the Red Tractor Brand, which is sold in supermarkets throughout Australia and in more than 10 countries globally. The agreement marks a significant milestone in APH’s strategy of expanding its ingredients supply business, and is a culmination of a close collaboration between APH and Annex. Both companies remain committed to using high quality Australian sown and grown products.
In a statement via ASX APH CEO Neale Joseph said: “We believe the Agreement demonstrates our ability to meet customers’ needs in terms of product quality, and in customer service. The partnership with Annex is a significant step in growing our strategy and delivering great customer outcomes with Australian-grown produce.”
APH’s recent enhancement to their Geelong processing capability has enabled the company to meet Annex’s requirements when it comes to product and purchasing cycles specifications.
Meanwhile Annex Managing Director Kane Fetterplace said they are committed to using Australian grown ingredients in their products and they are delighted to partner with progressive companies like Australian Primary Hemp.
“The agreement extends our range of Red Tractor Australian-grown grains and seeds to include world class hemp seeds, ensuring we can continue to offer Australians more locally grown food.”