MicroSalt has secured a significant distribution agreement with Loblaws, one of Canada’s largest and most established supermarket chains.
Loblaws, a Canadian retail giant, operates an extensive network of over 2,400 stores across the country. This partnership provides MicroSalt with an opportunity to reach another vast customer base, adding to its growing number of global distribution channels.
For context, Loblaws food retail segment, which covers the supermarket business, reported revenues of over CAD$9.4bn (£5.2bn) in their most recent quarterly earnings.
Today’s agreement includes placing 2oz and 6oz MicroSalt saltshakers in Loblaws stores. The products are expected to hit shelves in September/October 2024.
This distribution deal with such a prominent retailer represents another major milestone for MicroSalt after listing in London earlier this year with potential exposure to millions of Canadian consumers.
In addition, to support and further expand its sales within the Canadian market, MicroSalt has also partnered with LeBeau Excel, a leading food broker specialising in the natural and organic industry.
“We are extremely excited about the placement of MicroSalt® shakers in Loblaws,” said Rick Guiney, CEO of MicroSalt.
“Loblaws is one of the largest supermarket chains in Canada and a prominent fixture in the Canadian food landscape. United Natural Foods will be the distribution partner to support the Loblaws placement. Additionally, we are enthusiastic to partner with LeBeau Excel to expand our business, across all customer channels in Canada.”
Tekcapital holds a 77% stake in Microsalt worth around £30m as of yesterday’s close.