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- Maggie Beer’s (MBH) subsidiary, Maggie Beer Products, has partnered with Woolworths (WOW) to launch a new range of products in October
- The range includes four different flavoured finishing sauces and two bone broths which will be stocked in at least 75 per cent of Woolworths’ stores across the country
- The launch aligns with Maggie Beer’s goal of expanding its range and reducing the seasonality of its business with year-round cooking essentials
- In addition, Maggie Beer expects the acquisition of Hampers and Gifts Australian (HGA) to be completed later this month
- The $40 million buy will help to boost Maggie Beer’s eCommerce business
- MBH’s shares are trading in the grey at 33 cents
Maggie Beer’s (MBH) subsidiary, Maggie Beer Products, has partnered with Woolworths (WOW) to launch a new range of products in October.
Once launched, the new range of finishing sauces and bone broths will be stocked in at least 75 per cent of Woolworths’ stores across Australia. The supermarket giant already sells Maggie Beer’s cooking stocks range.
This range will include four different flavoured finishing sauces and two bone broths and will be made from all-natural ingredients without any added preservatives.
The new products align with Maggie Beer’s goal to expand its range and reduce the seasonality of its business with year-round cooking essentials.
“We are very pleased with the continued growth in the MBH Group, in particular the strong growth of the Maggie Beer Products business,” CEO Chantale Millard said.
In addition, Maggie Beer says it expects the acquisition of Hampers and Gifts Australian (HGA) to be completed later this month. MBH announced the $40 million buy at the end of March, claiming it will boost its eCommerce business.
Positively, HGA saw a 96 per cent year-on-year growth in sales for the month of April.
“With the recent successful completion of the capital raise to purchase HGA and the launch of the two new products lines for Maggie Beer Products later this year, we are expecting our strong growth to continue into FY22 and beyond,” she added.
MBH’s shares are trading in the grey at 33 cents at 12:54 pm AEST.
