A manufacturer of infant formula, Bubs Australia Limited (ASX:BUB) revealed that the Company has entered in a new supply agreement with Coles Supermarkets Australia. Under the supply agreement, Bubs Organic® Grass Fed Infant Formula would be distributed to 482 Coles supermarkets, with the initial orders to be processed in mid-May and on-shelf in early June 2020.
The Company also disclosed that the incremental distribution is in addition to the continued sale of Bubs Organic Toddler Snacks ranged in up to 804 stores and Bubs Goat Milk Infant Formula ranged in 561 stores.
Shares of BUB climbed by 6.742% to $0.950 on 6 May 2020 at AEST 11:41 AM.
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