Applied Nutrition in branded product deal with Morrisons supermarkets
Applied Nutrition PLC on Friday said it has struck an exclusive agreement that will see its branded products sold in Morrisons supermarkets across the UK.
Applied Nutrition shares were up 1.1% to 249.78 pence early Friday in London. The stock is set to join the FTSE 250 index on Monday next week, replacing PRS REIT PLC.
The Liverpool-based company creates sports nutrition, health and wellness brands. Under a three-year agreement, Morrisons will launch 53 Applied Nutrition-branded products across about 400 Morrisons supermarkets in the UK, starting in January.
Morrisons is the UK’s fifth largest grocer by market share, according to research house Worldpanel.
Applied Nutrition said Morrisons will formulate, produce and sell the Applied Nutrition branded meals and food products. The range will including ready-meals, food-to-go sandwiches, and salads, breads and cheeses. It will have range of GLP-1 friendly ready meals. GLP-1 is a weight-loss drug.
Applied Nutrition noted the agreement requires no capital expenditure by it.
‘We’re excited to be partnering with Morrisons for our first out-licensing deal, a testament to the strength of our brand and the growing consumer demand for convenient, high-protein food choices,’ said Applied Nutrition Chief Executive Officer Thomas Ryder.
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