ECS Botanics scores Woolworths distribution deal for hemp-based soups

ECS Botanics scores Woolworths distribution deal for hemp-based soups

Hemp food company ECS Botanics (ASX: ECS) has landed a distribution deal with Woolworths that will see a range of hemp-based soups stocked on the supermarket's shelves.

While the total revenue expected to be generated from the deal is still uncertain, the company will ramp up manufacturing runs to meet the anticipated first order from Woolworths.

Woolworths, via ECS' distribution partner Just Foods Australia, will stock ECS Botanics' Mexican Spiced Bean Soup with Hemp and its Indian Masala Lentil Soup with Hemp.

The agribusiness says both products are positioned for consumers looking for a healthy meal option; the soups are plant-based and developed by a team of chefs and nutritionists.

The addition of the soups to the Woolies shelves follows a similar deal between the two made last year regarding the introduction of ECS' Hemp Seed Oil to the supermarket's range.

"Our Fast Moving Consumer Goods soups are unique in the marketplace and this latest deal is testament to the products branding and positioning towards a growing retail segment," says ECS Botanics managing director Alex Keach.

"The deal also signifies the immense capability of Just Foods Australia, underpinned by the close working relationship we share."

"While the success we've achieved in the short term is pleasing, most importantly we are setting the foundation and capability to leverage the first mover opportunity in an exciting, high growth and evolving industry."

In December 2019 ECS Botanics announced it had been granted a medicinal cannabis cultivation licence from the Federal Government for its operations in Tasmania.

The licence authorises ECS to cultivate cannabis plants for medicinal purposes, produce cannabis and cannabis resin for medicinal purposes, obtain plants and distribute the drug.

The granting of the licence completes ECS' licencing strategy, enabling it to conduct separate activities across the industry.

Shares in ECS are up 1.92 per cent to $0.053 per share at 11.06am AEDT.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Four ways businesses can use artificial intelligence to triumph in 2022
Partner Content
The last two years have delivered major disruption to the technology industry and broad...
PROS
Advertisement

Related Stories

Shipeezi pre-seed raise attracts logistics, tech experts as SaaS eyes future ASX listing

Shipeezi pre-seed raise attracts logistics, tech experts as SaaS eyes future ASX listing

Fast-growing supply chain management software company Shipeezi has ...

QLD Premier confirms borders to reopen four days early

QLD Premier confirms borders to reopen four days early

With Queensland health authorities expecting the 80 per cent double...

Douugh builds on momentum with $8 million capital raise

Douugh builds on momentum with $8 million capital raise

Digital bank Douugh (ASX: DOU) has announced an $8 million capital ...

Cobram Estate Olives to raise $51m for US expansion, Australian mill upgrade

Cobram Estate Olives to raise $51m for US expansion, Australian mill upgrade

Cobram Estate Olives (ASX: CBO) plans to ramp up local olive oil pr...