Australia-based infant-formula exporter Jatenergy has signed a two-year distribution agreement for milk powder in South Korea and Japan.
Captain & Crews (C&C) will be the Sydney-listed company’s sole agent for its Neurio Lactoferrin Milk Powder in South Korea and Japan, and also what it described as the “online celebrity market” in China.
Jatenergy (JAT) already has a presence in China after signing a number of recent supply deals including Sinopharm – China National Pharmaceutical Group Corp. – via its subsidiary Green Forest International. It also bought a majority stake in local milk powder business Golden Koala Group as a key entry point into China.
However, in an announcement to the Australian Securities Exchange today (25 February), New South Wales-based Jatenergy said it is making plans to manufacture its own products and is seeking a suitable facility in Sydney as part of a diversification strategy to enter new markets outside of China.
The company also said it is looking to expand its portfolio.
“The board of JAT recognises that there is significant risk in relying on its product range being exported to a single country,” the company explained. “The current global trading environment demonstrates the uncertainty with regard to trading issues between Australia and other countries. The board is therefore seeking multi-country trading opportunities with more ranges of products. The C&C agreement reflects the result of JAT’s diversification strategy and the board will continue to seek more trading opportunities with more nations.”
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By GlobalDataC&C sells food, health and skincare products in South Korea, Japan and China such as lactoferrin and infant formula milk powder, and abalone-based sauces and noodles.
