Food Revolution Group’s shares have jumped as much as 11 per cent after it announced a 12-month contract to supply apple mango juice to Aldi supermarkets in Australia.
Food Revolution chairman Norman Li said the contract with one of Australia’s top 10 retailers would position the company to obtain distribution deals with other supermarkets.
‘This is a pivotal period for the company as we move into new markets and accelerate our growth strategy,’ Mr Li said in a statement released to the ASX on Thursday.
‘Securing a supply contract with Aldi is an opportunity to build our presence in Australia and generate revenue.’
The contract follows a deal secured this month for the Australian company to sell its canola oil products in more than 35,000 petrol and convenience stores across China.
Food Revolution was also recently given quarantine and inspection approval to sell its Fruit Farm Orange Juice products in China.
Mr Li said the company is working towards securing approval for the rest of its range of products.
At 1025 AEDT, Food Revolution shares were still 8.6 per cent higher at 19 cents.
They had earlier hit 19.5 cents.