- Halo Food Co (HLF) secures a multi-million-dollar deal with Fonterra to manufacture nine milk powder stock keeping units (SKUs)
- Halo’s wholly-owned subsidiary, Keytone Enterprises, signed the deal to distribute the products in multiple countries including China, India, Vietnam and New Zealand
- Fonterra values the agreement at NZ$6.4 million (A$5.9 million) over the two-year contract term, with an option to renew once complete
- The products will be manufactured in Halo’s New Zealand facilities
- Halo Food Co shares are up 9.09 per cent to 1.2 cents at 1:14 pm AEST
Halo Food Co (HLF) spiked on Monday after securing a multi-million-dollar deal with Fonterra to manufacture nine milk powder stock keeping units (SKUs).
Under the deal, Halo subsidiary Keytone Enterprises will manufacture the SKUs for Fonterra. The products will then be distributed in multiple countries, including China, India, Vietnam and New Zealand.
Fonterra has valued the agreement at NZ$6.4 million (A$5.9 million) over the two-year contract term, with an option to renew once complete.
The products will be manufactured in Halo’s New Zealand facilities.
“This is a fantastic accolade for Halo’s New Zealand business and a testament to the quality and credentials of the New Zealand team and facility we have in place,” Halo CEO Jourdan Thompson said.
“Fonterra is a leading global player in the dairy sector, and we are proud to have been chosen to work closely alongside them as they grow their brands internationally.”
Halo Food Co shares were up 9.09 per cent to 1.2 cents at 1:14 pm AEST.