- Roots Sustainable Agricultural Technologies (ROO) signs a one-year exclusive dealership agreement with French distributor ES France
- Under the agreement, ES France will be responsible for the sales and marketing of Roots’ products in the French market
- The agreement will provide Roots with direct access to key industries in environmental and food production agriculture across France
- Further, it marks another “important validation” of the company’s technology as it continues to execute on new business development initiatives across global markets
- Shares in Roots closed at 0.2 cents on Tuesday afternoon
Roots Sustainable Agricultural Technologies (ROO) has signed a one-year exclusive dealership agreement with French distributor ES France.
Under the agreement, ES France will be responsible for the sales and marketing, installation, collection, post-sale services and logistics support of Roots’ products in the French market.
The agreement will provide Roots with direct access to key industries in environmental and food production agriculture across France.
Further, it marks another “important validation” of the company’s technology as it continues to consolidate its position and execute on new business development initiatives across global markets.
Roots CEO and Chairman Boaz Watchel said the agreement was an importnat step in the company’s global distribution strategy as it leveraged the traction developed in core markets to expand into new jurisdictions.
“In that context, partnering with a distribution platform the calibre of ES France highlights the value proposition of ROOTS proprietary agri-tech products for major markets,” Mr Watchel said.
“As one of the major Eurozone economies, this distribution partnership also leaves ROOTS well-placed to pursue additional market opportunities across the EU, amid the ongoing rise in demand for tech solutions that boost agricultural productivity without harming the environment.”
Roots said the initial term of the exclusivity period was dependent on the achievement by ES France of specific milestones, with a minimum sales quota of €30,000 (A$47,500) in the first year.
If the agreement is extended, subsequent exclusivity periods will be dependent on the achievement by ES France of minimum sales milestones of €80,000 in the second year and €150,000 in the third year
Though this exclusive agrement is legally binding, the parties also intend to enter into a formal agreement within six months of the agreement date.
Shares in Roots closed at 0.2 cents on Tuesday afternoon.