Creso Pharma (ASX:CPH) eyes Australian body care market with Dr Pickles deal

• Creso Pharma (CPH) signs a heads of agreement with tattoo aftercare specialist Dr Pickles
• Under the agreement, the parties will discuss a collaborative agreement to bring products from Creso’s target acquisition company, Sierra Sage Herbs (SSH), to the Australian market
• Inversely, Creso and Dr Pickles explore the opportunity to bring products from the Dr Pickles range to North American markets through SSH’s distribution network
• Dr Pickles’ distribution footprint includes Woolworths stores, pharmacies, barbershops and over 800 tattoo studios.
• CPH shares are up 11.54 per cent and trading at 5.8 cents at 2:38 pm AEST

Creso Pharma (CPH) has signed a heads of agreement with tattoo aftercare specialist Dr Pickles.

Under the early-stage business deal, the two companies will look at ways to commercialise products from Creso’s target acquisition company, Sierra Sage Herbs (SSH), in the Australian market. Inversely, the companies will explore potential opportunities to commercialise Dr Pickles’ products in North America through SSH’s distribution network.

Creso and Dr Pickles plan to enter a collaborative agreement by July 29, 2022.

According to Creso, the deal could provide it with a potential pathway into the Australian body care market.

Creso CEO and Managing Director William Lay said as part of its SSH acquisition and potential Dr Pickles partnership, the company planned to launch SSH’s Green Goo range of body care products in Australia.

“We’re looking forward to working closely with the Dr Pickles team on exploring
multiple product and branding opportunities which have the potential to drive sales for both parties,” Mr Lay said.

The Green Goo range includes tattoo care and sunscreen products.

SSH CEO and Co-Founder Jodi Scott said she believed the Green Goo products would be “well-received” by Australian consumers because they were all plant-based and natural.

“Finding the right partner is critical for us entering Australia, and with Dr Pickles, we have
met another highly successful family enterprise and identified several additional synergies that have the potential to unlock shareholder value,” Ms Scott said.

“Dr Pickles have built a wonderful brand which holds tremendous appeal with consumers and has a great fun personality.”

Dr Pickles’ distribution footprint includes Woolworths stores, pharmacies, barbershops and over 800 tattoo studios.

CPH shares were up 11.54 per cent and trading at 5.8 cents at 2:38 pm AEST.