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New Zealand Coastal Seafoods Limited (“NZCS”, the “Company”) (ASX:NZS) is pleased to announce that the Company has entered into an Agreement with Reach China Pty Ltd (“Reach China”), for the non-exclusive distribution of the Company’s nutraceutical and ready to eat product range in Australia, Hong Kong and China. Under the Agreement, Reach China has the rights to distribute the NZCS branded Collagen nutraceutical product, Cooked Ling, Abalone and Dry Ling, with the Agreement including scope for expansion.

Highlights:

  • NZCS has entered an Agreement with Reach China for the non-exclusive distribution of the Company’s nutraceutical and ready to eat product range in Australia, Hong Kong and China.

  • Under the Agreement, Reach China has the rights to distribute the NZCS branded Collagen Nutraceutical Product, Cooked Ling, Abalone and Dry Ling Maw, with the Agreement providing scope for expansion.

  • Reach China is a leading Sydney based China export focused, brand incubation, sales and marketing company, that has worked with leading brands including Colgate, Henkle (Cold Power/Sard), Koala Eco and Tri Nature.

  • The distribution Agreement is in line with the Company’s expansion strategy of increasing sales capacity and distribution channels, in existing markets and further penetrating Asian markets.

  • NZCS will hold a product launch event in Sydney for the recently developed ready to eat and nutraceutical NZCS branded product range, in April 2020.

  • This launch event is in lieu of the Alibaba Ecosystem Expo, which has been postponed.

Reach China CEO, Dr Mathew McDougall, commented: “As an experienced distributor of products into the Chinese market, Reach China only seeks brands that meet a strict criteria and have significant potential in both the Australian and Chinese markets. We look forward to working with the NZCS team to grow their brand.”

NZCS Interim CEO, Andrew Peti, commented on the Agreement: “We are very pleased to have signed Reach China as our non-exclusive distributor for Australia, Hong Kong and China, as we seek to expand our sales network both in Australia and in the high growth Asian market. The Agreement is a testament to the quality and potential of the Company’s nutraceutical and ready to eat products and we look forward to building a longstanding relationship with Reach China as we continue to grow the brand.”