Australians keen to capitalise on the nutritional benefits around hemp will soon be able to do so via soup formats with ECS Botanics (ASX: ECS) securing a distribution agreement with Just Foods Australia to have their soup product sold on Woolworths shelves.
Australia’s largest supermarket chain will stock ECS’s Mexican Spiced Bean Soup with Hemp and Indian Masala Soup with Hemp across their network of 995 stores.
“Our Fast Moving Consumer Goods (FMCG) soups are unique in the market place and this latest deal is testament to the products branding and positioning towards a growing retail segment,” said ECS Managing Director, Alex Keach.
“The deal also signifies the immense capability of Just Foods Australia, underpinned by the close working relationship we share. We have built a team of people with complementary skill sets, shared passion and beliefs.”
With licenses to cultivate, supply and manufacture industrial hemp, ECS is growing its suite of hemp food products whilst this new distribution agreement for their soup ranges builds on the agreement made to distribute ECS’s hemp oils through Woolworths in November 2019.
Hemp foods were legalised for sale in Australia in 2017 with hemp containing less than 1% THC – the psychoactive constituent found in marijuana which contains 30% THC.
ECS Botanics commenced trading on the ASX in July 2019 following an oversubscribed $6.5m capital raise at an offer price of $0.04 per share.