- The Sustainable Nutrition Group (TSN) signs new retail agreement with giant supermarket chain Woolworths (WOW)
- The agreement covers four new baking products and also forms an extension to the current agreement in place which will see TSN increase the supply of its baking products under the Mt Elephant brand
- The increased supply will be distributed to a larger number of stores commencing April 2022
- TSN says it expects the new agreement to generate annualised sales revenue in the range of $900,000 to $1 million
- TSN shares down 10 per cent to 13.5 cents
Plant-based health and wellness products company The Sustainable Nutrition Group (TSN) has reached a new retail agreement with supermarket giant Woolworths (WOW).
TSN said the agreement covers four new baking products under the Mt Elephant brand – Choc Chunk Wholefood Blondie, Double Choc Superfood Cookies, Banana Oat Superfood Cookies and Choc Chunk Wholefood Brownie Mix.
It marks an extension to the company’s original retail agreement with Woolworths involving the supply of six existing Mt Elephant baking products.
The increased supply will be distributed to a larger number of stores commencing April 2022.
“This additional agreement supports TSN’s outlook for a stronger 2H FY22 and we continue to make progress with additional distribution contracts in the pipeline across both the Human and Pet Nutrition verticals,” Managing Director Neale Joseph said.
TSN expects the new range of baking products will generate annualised sales revenue of between $900,000 and $1 million as of April 2022.
The company said the extension of the agreement will offset the loss of its mylk product range that will no longer be stocked at Woolworths following a change in distribution strategy.
Mt Elephant is TSN’s flagship brand within the Human Nutrition vertical and its products are based on plant-based protein, containing 100 per cent Australian-grown hemp, a nutritionally dense source of omega-3, omega-6, magnesium and gamma linoleic acids.
TSN shares ended the day’s trading session down 10 per cent to 13.5 cents.