Health foods manufacturer Holista Colltech (ASX: HCT) is set to see its low glycaemic index (GI) food ingredients consumed by thousands of Malaysians having secured their first distribution deal with Country Farms that will see its products supplied to Starbucks Malaysia.
Although only modest in nature to the value of $43,000, Holista is working with Country Farms on a further partnership beyond this order.
As a wholesale distributor to more than 4,000 trade customers, the Country Farms catalogue is employed by leading supermarkets across Malaysia and is part of the Berjaya Corporation Berhad conglomerate.
Popular brands that also fall under the Berjaya conglomerate include Kenny Rogers Roasters, Simply Good Food vegan restaurant and Kelava vegan ice-cream. Country Farms also supplies to 7-Eleven stores in Malaysia.
This initial order for low GI ingredients will be applied by Starbucks Malaysia for their range of healthy croissants that underwent a successful round of customer feedback following recent trials.
Having gained that feedback, Holista and Country Farms are now co-developing a low GI white sandwich bread and ciabatta for Starbucks Malaysia.
Other products in the collaborative pipeline include plant-based tuna, plant-based eggs and plant-based milk. All are currently undergoing sensory testing where any wholesale distribution will be inked via a separate agreement with the intention of bringing those products to market.
For the full year ended 31 December 2021, Holista Colltech reported record revenue of $8 million which represented a 13% increase on the previous year. Net loss after tax was $1.2m however this was a major improvement on the previous year’s $5.6m net loss.
The new range of healthy croissants is expected to be sold across 327 Starbucks stores in Malaysia and Brunei shortly.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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