Cannabis extraction company
Neptune Wellness Solutions Inc. (
TSX.NEPT)
struck distribution deal with a major consumer-packaged goods (CPG) company Kraft Heinz on Monday. The company said it will distribute Kraft Heinz products – including Oscar Mayer, Philadelphia Cream Cheese, and HP Sauce – into India, Vietnam, the Caribbean, and Latin America.
Neptune will be able to leverage its distribution partnership with Kraft for its own branded products in those markets, the company said. Along with Kraft, Neptune has a similar deal with Unilever NV (
NYSE:UL) and should be able to book about 70% of its revenues to its CPG distribution business, Chu added.
In the wake of the news, Neptune's shares closed up just over 6% on the TSX.
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