Keytone Dairy signs milk powder deal with Foodstuffs

By Jim Cornall contact

- Last updated on GMT

The whole and skim milk powder for Foodstuffs Own Brand Limited will be manufactured in Keytone’s New Zealand facilities. Pic: Keytone
The whole and skim milk powder for Foodstuffs Own Brand Limited will be manufactured in Keytone’s New Zealand facilities. Pic: Keytone

Related tags: Dairy, Milk powder

Keytone Dairy Corporation Limited has signed a material milk powder manufacturing and supply agreement with New Zealand national grocer, Foodstuffs.

Keytone will manufacture and supply whole and skim milk powder for Foodstuffs Own Brand Limited across multiple Foodstuffs product brands and sizes to be distributed throughout New Zealand.

The company said it has received orders of NZ$7.1m (US$4.8m) with purchase orders of more than NZ$500,000 (US$340,385) already received.

The initial term of the agreement is two years, which will continue indefinitely thereafter.

The products will be manufactured in Keytone’s New Zealand facilities.

Keytone’s CEO Danny Rotman said, “Based off our track record and leveraging our credentials, world class facilities and reputation, Keytone has successfully tendered and won this significant contract in New Zealand for the supply of milk powder. The win is testament to the growing and diversified client base of the Company and the fact that Keytone is not reliant on the Daigou channel or any one distribution channel.

“While this is a large domestic contract, based off discussions to date, Keytone believes there is further upside in the value of the sales over the initial term not to mention the opportunity to sell in our range of high margin proprietary products to Foodstuffs, New Zealand’s largest grocery retailer.”

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