Plandai Biotechnology Inc (OTCMKTS:PLPL) reported that Ultimate Sports Nutrition is working on a new line of products for the New Zealand and Australian markets that uses company’s made Phytofare® ingredient. As per the previously finalized deal, USN had to use Phytofare® catechin component exclusively in all goods manufactured or marketed in South Africa and Europe that incorporate green tea.
Now, Plandai Biotechnology has reported new developments following which USN will be able to explore the application of Phytofare® ingredient with other contract manufacturers, starting in New Zealand and Australia. Under the new revised deal, USN will utilize Phytofare® as the exclusively green-tea complex in all their supplement products in the European Union and South Africa exchange for availability concessions and guaranteed pricing from Plandaí.
The management speaks
Callum Baylis-Duffield, the VP of Sales and Marketing, said that Ultimate Sports Nutrition has dedicately accepted the advantages of phyto-availability™ in their attempt to offer the premium products to their clients. Phytofare® offers more of the active complex to the blood stream where they remain at functional levels for longer time as compared to generic supplements.
This phyto-availability™ features provides noticeable results to users. USN has expanded the Phytofare® application to Europe. Now the focus being on new product advancement in the Australian continent is promising, and will help Plandai Biotechnology Inc (OTCMKTS:PLPL) record strong sales in coming period. This also comes as a validation that customers are now embracing the company’s products.
The significance
The extended agreement with USN is significant for Plandai as USN is a leading nutrition and health supplement brand, leading the industry of sports nutrition globally. It is progressing well with its global growth strategy with its products now being sold in pharmacies, specialist and FMCG retailers in more than 53 nations.
Following the news, the stock price of Plandai jumped more than 16% in early morning trade on Thursday.
