Subiaco olive oil marketer Piquant Blue Ltd has secured an agreement with the Shaws supermarket chain to sell its redisland brand in the north east region of the USA.
Subiaco olive oil marketer Piquant Blue Ltd has secured an agreement with the Shaws supermarket chain to sell its redisland brand in the north east region of the USA.
Shaws will commence stocking redisland in 75 of its stores in August, with the remaining 140 stores commencing in September.
Shaws is the second largest supermarket chain in the north east region of the US, which accounts for approximately a third of the extra virgin olive oil consumer spend in the US. Its largest concentration of stores is in the New England region.
Piquant Blue set an initial target of having 2,500 stores selling redisland and that target is well within reach.
On Monday, the company secured two US supermarket accounts, with Delhaize America and Demoulas Super Markets, to sell its redisland brand.The supermarket groups would commence stocking redisland in June and July.
Delhaize America's subsidiaries Hannaford's and Kash n' Karry / Sweetbay will sell redisland from 245 stores, while Piquant Blue will supply Demoulas Super Markets into 58 of its grocery stores under the Market Basket and Demoulas Super Market names.
Hannaford's is one of the dominant supermarket chains in the north east, while Kash n' Karry has extensive coverage of the Tampa area in Florida. Sweetbay is a new concept store format introduced in the Tampa area by Kash n' Karry.
Demoulas Super Markets runs 58 grocery stores in Massachusetts and New Hampshire.
Last week, the company announced agreements with Albertson's Inc. and The Great Atlantic and Pacific Tea Company, which will carry the Australian brand of extra virgin olive oil in a total of 850 stores across several major US supermarket chains.
At 1250 WST, shares in Piquant Blue were up .5 cents to 41.5 cents.
Below is the full announcement:
The Company advises that it has secured agreement with the Shaws supermarket chain to sell its redislandTM brand in the north east region of the USA. Shaws will commence stocking redislandTM in 75 of its stores in August, with the remaining 140 stores commencing in September.
In recent announcements Piquant Blue advised that its committed total store count in the US had climbed to 1,153 across several major supermarket chains. The addition of Shaws brings the total to 1,368.
Shaws is the second largest supermarket chain in the north east region of the US, which accounts for approximately a third of the extra virgin olive oil consumer spend in the US. Its largest concentration of stores is in the New England region.
Piquant Blue set an initial target of having 2,500 stores selling redislandTM and that target is well within reach. Further announcements are expected shortly in relation to other US supermarket account negotiations.
Webcast Interview with Managing Director Andrew Konowalous on Boardroom Radio
The Company wishes to inform the market of an audio broadcast with Andrew Konowalous (Managing Director) who discusses the significance of the company's first US supermarket accounts.
The presentation is available at www.boardroomradio.com. Or please enter the below URL into you browser address bar for direct access to the broadcast.
