Join our daily newsletter At The Bell to receive exclusive market insights
- Australian Primary Hemp (APH) has signed a two-year exclusive agreement with health and snack food company Annex Foods for the supply of hemp seeds
- Annex will use APH’s hemp seeds in its products sold under the brand Red Tractor Brand
- The agreement is worth $760,000 and is a significant milestone for APH
- APH is up 7.69 per cent on the market today and is trading for 14 cents
Australian Primary Hemp (APH) has signed a two-year exclusive agreement with Annex Foods for the supply of hemp seeds.
Annex is a Victorian health and snack food company and will use APH’s hemp seeds in its products sold under the Red Tractor Brand. These products are sold in supermarkets around Australia and internationally.
The agreement is valued at $760,000 and is a significant milestone for APH.
APH’s recently improved Geelong processing facilities has allowed the company to meet Annex’s specifications.
“We believe the agreement demonstrates our ability to meet customers’ needs in terms of product quality, and in customer service,” APH CEO Neale Joseph said.
“The partnership with Annex is a significant step in growing our strategy and delivering great customer outcomes with Australian-grown produce,” he added.
Annex Managing Director, Kane Fetterplace, said the company is committed to using Australian grown ingredients in its products.
“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,” he said.
APH is up 7.69 per cent on the market today and is trading for 14 cents at 1:50 pm AEST.
