PriceSensitive

FOD nets $8 million deal with Chinese daigou platform

Health Care, Industrial
ASX:FOD
15 April 2019 23:31 (AEST)

Food Revolution Group has signed an agreement with ICC Global which will see ICC order $8 million of FOD products by 2020.

FOD is an Australian company which operates, a state of the art fruit and vegetable processing facilities to produce high-quality juices, fibers, infused fruits, and waters.

ICC Global is an international cross border e-commerce platform that connects Australian manufacturers with exporters in China and other international markets.

This agreement will see ICC ordering at least $8 million worth of FOD products by December 2020.

The first order will see a minimum of 10,000 units of orange juice to be shipped to Shanghai in June 2019.

According to FOD Executive Chairman Dr. Norman Li this partnership is essential in expanding FOD’s customer base.

“This agreement for ICC Global to order $8 million will help FOD further grow awareness of its brands in China. We had a very successful diagou visit to the factory and I believe further distribution deals will be coming,” he said.

Upcoming orders of canola oil to Singapore are expected in the future.

“ICC’s first order of our orange juice is just the start of our long term relationship and we look forward to further building our sales and distribution relationship with ICC over the next few years,” Dr. Li said.

Please find announcement attached here

Related News