LAVAL, QC, July 27, 2021 /CNW Telbec/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX: NEPT), a diversified health and wellness company focused on plant-based, sustainable lifestyle brands, announced the initial launch of Sprout Organic Foods products into Canada in Metro grocery stores in the province of Ontario.
This initial launch of Sprout Food organic toddler snacks includes four new SKUs and is featured in the Metro in-store flier. The initial launch includes Broccoli Curlz and White Cheddar Curlz toddler snacks as well as Blueberry Apple and Pumpkin Butter & Jelly Wafflez toddler snacks. Later this summer, the Company will expand its Metro offerings with additional SKUs from its Crinklez toddler snacks.
Neptune Wellness acquired a majority stake in Sprout in February 2021 as a strategic acquisition to diversify its health and wellness brand portfolio to leverage against the Company's expansive retail distribution network. Since the acquisition, the Company has expanded Sprout baby foods and toddler snacks into substantially all Target U.S. stores, Walmart.com, and other retail outlets. Sprout's expanded distribution into Metro stores is a continuation of the Company's strategy to grow sales through retail channel expansion utilizing Neptune's deep international expertise. Additionally, the Company will leverage its licensing agreement with CoComelon, the number one children's learning and entertainment show in the world with more than 100 million YouTube subscribers, later this year