Australia’s Jatenery has signed an agreement with China’s Sinopharm to sell its infant formula brands.
The Sydney-listed infant-formula exporter already markets its baby products in China and has a number of distribution deals, including via its subsidiary Green Forest International, which last year secured a distribution deal through the Sino O2O sales channel.
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Green Forest is at the centre of the new agreement with Sinopharm, better known as the China National Pharmaceutical Group Corp., and was signed via a so-called memorandum of understanding.
Jatenery’s (JAT) Strategic Partnership Agreement will see Sinopharm market the company’s existing brands in China, according to a statement today (31 January) filed with the Australian Securities Exchange.
The deal is for a one-year term but has an extension provision for another 12 months if both parties are satisfied with the relationship. JAT said the agreement does not contain any “specific termination provisions” and is unlimited in respect to the quantities of product involved.
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Last year, New South Wales-based JAT bought a 50% interest in Australia-based Green Forest, which exports milk powders to China such as A2 and Danone’s Aptamil. It is a major supplier to the Chinese TaoBao and Wechat channels among others.
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By GlobalDataAnd also last year, the company snapped up a 51% stake in Australian milk powder business Golden Koala Group to give it a gateway into China.
