Shares of East Imperial PLC (LON: EISB) surged 19.6% after revealing that it had signed new supply agreements with Australian retail chain Woolworths and Metcash, an Australian wholesaler.
The company, which supplies ultra-premium beverages, said that it had signed the final supply agreement with Countdown and Foodstuffs, both of which are owned by Woolworths, to supply a range of premium mixers to Countdown stores in New Zealand.
East imperial has also signed a separate agreement with Foodstuffs, the largest supermarket chain in New Zealand, to stock, its beverages in all its New World branded supermarkets in South Island. It already supplies stores on the North Island.
The two supply deals are pretty significant to East Imperial as they represent a step-change in its off-trade supply deals and will raise the number of retail outlets supplied by the firm to over 1000 outlets.
The above figure also includes the 245 Dan Murphy's stores that are also being supplied after the two companies recently signed a supply agreement.
East Imperial also revealed that it had signed an agreement with Metcash, one of the largest Australian wholesalers, to stock its beverages giving the firm access to over 10,000 independent retailers and over 90,000 wholesale customers.
Tony Burt, East Imperial’s Founder & CEO, said: “This is a significant step forward for East Imperial as we look to accelerate our retail offering, a core element of our growth strategy. I'm delighted that since our listing in July, we have added over 600 outlets across Australia and New Zealand. The team continues to work on similar placements throughout the wider Asia Pacific and US regions.”
East Imperial share price.
East Imperial shares surged 19.59% to trade at 14.53p, rising from Thursday’s closing price of 12.15p.