Venture Life Group PLC Exclusive Long Term Agreement Secured in China (8804K)
27 Aprile 2020 - 8:00AM
UK Regulatory
TIDMVLG
RNS Number : 8804K
Venture Life Group PLC
27 April 2020
27 April 2020
VENTURE LIFE GROUP PLC
("Venture Life" "VLG" or the "Group")
New, Exclusive Long Term Agreement Secured in China
Largest ever contract win for a minimum of EUR168 million
Venture Life (AIM: VLG), a leader in developing, manufacturing
and commercialising products for the international self-care
market, announces that it has signed a new, exclusive 15 year
agreement with its existing Chinese partner for Dentyl. The
agreement is for the distribution of products in Greater China
(China, Macau, Hong Kong, Taiwan), and covers a number of the
Group's products, including Dentyl.
This significant long term agreement has minimum purchase
obligations to the value of EUR168m over the 15 year term. The
Directors believe that this minimum value commitment, which the
partner is required to purchase in order to retain the exclusive
distribution rights, demonstrates our partner's long term intention
and support for these important brands.
As announced on 9(th) April 2020, Venture Life has already
received orders from this Chinese partner for Dentyl and some other
key products in excess of EUR7m for delivery in 2020. At the start
of 2020, the partner started a new marketing initiative and,
coupled with heavy advertising investment by them, demand has
increased rapidly, both pre and post the COVID-19 situation in
China. Our partner largely sells our products via the online
channel and all sales and marketing costs are borne by them, which
aligns with our international corporate brands strategy.
Jerry Randall, CEO of Venture Life, commented: "I am absolutely
delighted that we have secured this significant agreement in China
with one of our key partners. The relaunch of Dentyl by our partner
using online stores and channels has gained momentum quickly, and
this significant extension of the agreement, both in time and
minimum purchase commitment, shows the strength of both our future
expectations for these products in China."
This announcement contains price sensitive information.
For further information, please contact:
Venture Life Group PLC +44 (0) 1344 578004
Jerry Randall, Chief Executive Officer
+44 (0) 20 7397
Cenkos Securities plc (Nomad and Broker) 8900
Stephen Keys / Mark Connelly / Cameron MacRitchie
(Corporate Finance)
Russell Kerr / Michael Johnson (Sales)
Alma PR venturelife@almapr.co.uk or + 44 (0)
203 405 0208
Helena Bogle / Hilary Buchanan
/ Kieran Breheny
About Venture Life ( www.venture-life.com )
Venture Life is an international consumer self-care company
focused on developing, manufacturing and commercialising products
for the global self-care market. With operations in the UK, The
Netherlands and Italy, the Group's product portfolio includes some
key products such as the UltraDEX and Dentyl oral care product
ranges, food supplements for maintaining brain function, medical
devices for women's intimate healthcare, fungal infections and
proctology, and dermo-cosmetics for addressing the signs of
ageing.
The products, which are typically recommended by pharmacists or
healthcare practitioners, are available primarily through
pharmacies and grocery multiples. In the UK and The Netherlands
these are supplied direct by the company to retailers, elsewhere
they are supplied by the Group's international distribution
partners.
Through its Development & Manufacturing business in Italy,
Biokosmes, the Group also provides development and manufacturing
services to companies in the medical devices and cosmetic
sectors.
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END
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