Bubs has signed an agreement with Coles to expand its range of infant formula products at 482 supermarkets from early June.
The deal to add Bubs Organic grass-fed infant formula adds to the companies’ existing partnership in which Coles sells Bubs goat milk infant formula and toddler snacks.
“This is a continued vote of confidence in Bubs brand portfolio from Coles and demonstrates Bubs’ strong performance in the super-premium speciality infant formula segments,” Bubs founder and chief executive Kristy Carr said.
Bubs has also signed a deal to supply 16 products to Baby Bunting, Australia’s largest nursery retailer, while Woolworths has recently expanded the number of stores that carry Bubs formula.
Later in May, the number of Woolies supermarkets carrying Bubs Organic grass-fed formula will expand from 700 to 800 stores, while 654 supermarkets will carry Bubs goat milk infant formula, up from 400.
The new supply agreements are expected to “materially add to the company’s domestic revenues from Q4 FY20”, Bubs said.
Mrs Carr said the company was looking this year to expand beyond goat milk into the much larger cow’s milk segment, which accounts for 90 per cent of the Australian formula market.
At 1111 AEDT, Bubs shares were up 5.6 per cent to 94 cents.