SYDNEY: Wattle Health Australia Limited has entered into a License Agreement with Verdure Nutrition Supplements Trading LLC (VNS) for Wattle’s organic infant formula range, Uganic, for the Middle Eastern market.
The Agreement is for a 10-yearperiod giving VNS exclusivity for Uganic for the Middle Eastern market with customary commercial terms and conditions in line with such an agreement.
Wattle will receive a ‘per unit fee’ for all products produced under the Agreement plus an annual licensing fee. Either party can terminate the Agreement with a 6 months’ notice.
VNS will be responsible for the production, transport, distribution and marketing of Uganic in the Middle East, with VNS signing a supply agreement with Blend and Pack for the production of Uganic.
The relationship with VNS allows Wattle to enter into a high growth market generating positive cash flow from the outset, with first delivery in December 2020.
Verdure Nutrition Supplements Trading LLC, Founder and Managing Director, Saad Kayali, said, “with the inception of this Agreement, our little ones in Middle East will be able to get nurtured on the best Organic and GMO-free Infant Milk formula coming from Australia who is well-known in Middle East as the undisputed land of quality nutritional products. “Uganic” would be therefore, the first Australian Organic & GMO-free Infant Milk Formula in Middle East”.
Based on thirty years of culminating knowledge and experience build-up for a well-known global corporate in healthcare industry at regional level, came the unique and leading concept of “Verdure Medical Supplies Trading LLC offering unique modular growth incubation programs to those International Principles with reputed portfolios who are eager to have a commercial presence and growth in Middle East.
Wattle Health Australia Limited is an Australia-based company, which is engaged in developing, sourcing and marketing Australian made dairy, health and wellness food products. The Company operates in the fast moving consumer goods industry (FMCG), focusing on infant formula and dried dairy products.