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Regenerative food producer Wide Open Agriculture (ASX: WOA) has struck two distribution deals in the US that it says could lead the company to establish a market foothold across 24 states for its flagship plant-based product, Buntine Protein.
The agreements with SPI Group and Kramer Group come on the heels of the company attending the International Food Technology Expo in Chicago in July. They also fulfill WOA chief executive officer Jay Albany’s long-held ambitions to bring the company’s products to the US market.
“This is a market with immense potential for growth,” Albany says.
“It is the leading market for plant-based food innovation and consumption, has the largest GDP in the world, and immense purchasing power. With Buntine Protein, we have a product with a strong enough competitive moat to move aggressively into this market.”
The 12-month distribution agreements, which carry automatic 12-month renewals, will see SPI and Kramer test the US consumer market for Buntine Protein which is among three brands created by WOA, also including Dirty Clean Food and Dirty Clean Food Oat Milk.
WOA says it will provide the US distributors with Buntine Protein samples from its Kewdale facility in Western Australia with that aim that successful trials will lead to the development and commercial release of products containing Buntine Protein. These will include the likes of plant-based dairy products, baked goods and protein supplements.
WOA says the distribution campaign is seeking manufacturers prepared to engage in small-scale product development in test kitchens for internal tasting and review.
“Internal and external tasting panels, marketing and packaging of new products could see the commercial release of new food and drink products containing Buntine Protein,” the company says.
SPI Group is a distributor of specialty ingredients to food, meat and nutritional manufacturers in the west and central west of the US, and south to Texas, while Kramer Group will leverage its relationship with US food manufacturers in the country’s southeast corner.
"SPI has a reputation for bringing innovative, breakthrough ingredients to our customers,” says SPI Group president Tim Ogles.
“We saw the strong interest in Buntine Protein at IFT Chicago and look forward to growing its market in the US.”
WOA says Buntine Protein was praised at the Chicago expo for its ‘clean taste, excellent gelation and strong sustainability credentials’.
While the initial distribution agreement in the US will cover 24 states, WOA is hoping a successful trial over the next year will lead to an expansion of its territory in the US.
The company says it is planning to lift production capacity at Kewdale in FY24 to meet the accelerated demand expected from the distribution agreement.
WOA says the US partners were chosen for their comprehensive sales network and experience in launching new ingredients across the US market.
"We're excited about this monumental step into the US market,” Albany says.
“Our partnerships with these proven and esteemed distributors will pave the way for Buntine Protein to reach more prospects and customers, faster.
“It also reaffirms our vision of sustainable and innovative agriculture on a global scale. As we journey into this new chapter, we are focused on increasing short term production capacity so that we can capitalise on the positive reception for Buntine Protein.”
WOA’s Buntine Protein is derived from lupins grown in West Australia and manufactured under a globally protected patent. The company’s Dirty Clean Food brand also caters to eco-conscious consumers by partnering with regenerative farmers to deliver premium beef, lamb, poultry and pantry staples.
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