Keytone Dairy has signed a long-term manufacturing agreement with Iovate Health Sciences Australia. It has confirmed $3.6 million in opening orders, representing 143 per cent of Keytone’s total revenue for FY19.
Iovate is a health and wellness company headquartered in North America, with offices in Canada, United States and Australia.
The opening orders under the new agreement with Keytone Dairy will see private label speciality branded high protein products distributed into China, as the strategic partnership continues to develop orders over the coming quarters, as well as help grow the business across multiple packaging formats and product ranges.
Keytone CEO Danny Rotman said the team was excited to continue to attract and work with leading clients within the sector.
“The signing of this leading global protein brand in the international health and wellness sector with a such a significant opening order, in addition to the significant volume of the requirement validates the high growth nature of the Keytone business and our in-depth manufacturing capability and credentials,” said Rotman.
Keytone has confirmed the contract term is indefinite and “the volumes to be manufactured are to be confirmed on an ongoing purchase order basis in line with client forecasts for China and Australia”.
In January, Keytone Dairy launched its first range of frozen purees under its recently acquired Super Cubes brand, with a minimum of $2.5 million worth of sales expected within the first 12 months.
