Distribution agreement for SlimBiome
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OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces it has signed an agreement with Ravenswood Ingredients Pty Ltd ("Ravenswood") for the distribution of SlimBiome® in Australia and New Zealand.
| Ravenswood is part of the Brenntag group, a specialised ingredient supplier with more than 17,000 employees in over 72 countries, and revenues of €19.4bn in 2022. Brenntag group acquired Ravenswood in November 2022 as part of its nutrition strategy which focuses on specialised value-added ingredients. See: Brenntag strengthens its position in Specialties in Australia and New Zealand by acquiring the Life Science business from Ravenswood | Brenntag. |
Ravenswood brings access to the food and beverage markets and will complement existing partner capabilities which are largely focused on the meal replacement market to broaden OptiBiotix's impact in Australia and New Zealand. This is part of a strategy of building partnerships to support expansion of OptiBiotix's geographical footprint with companies who bring national and international capability for highly differentiated value-added ingredients in high growth markets around the world.
Stephen O'Hara, CEO of OptiBiotix, commented: "We are pleased to announce this agreement with Ravenswood who bring specialised food ingredient expertise as part of the Brenntag group, a global market leader in chemicals and ingredients distribution. This agreement is another example of OptiBiotix working with large partners and extends access to the food and beverage markets within Australia and New Zealand with a company which is part of a group which is a global leader in the ingredients market."
The Directors of the Company are responsible for the release of this announcement.
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