ASX Announcement
Highlights:
Holista signs three-year exclusive deal with Costanzo’s for GI LiteTM
Costanzo’s to use GI LiteTM to make the world’s lowest GI clean label (all natural) white bread for US, Canada and Mexican markets
Costanzo’s is to purchase 165 tons worth ~US$1.9m (~A$2.7m) of GI LiteTM in the first year and 220 tons for ~US$2.5m (~A$3.6m) for each of the next two years (subject to reviews)
Costanzo’s manufactures and supplies both fresh and frozen bakery products via a network of food distributors and brokers throughout the continental U.S. and eastern Canada.
Holista Colltech Limited (ASX: HCT, “Holista” or “the Company” and its United States subsidiary, Holista Foods Inc., have signed a binding agreement with Costanzo’s Bakery, Inc. (“Costanzo’s” to use Holista’s GI LiteTM technology to manufacture the world’s lowest Glycaemic Index (GI) clean label white bread using only all-natural ingredients.
Under the exclusive three-year Licence and Commercialisation agreement, Costanzo’s will purchase 165 tons of GI LiteTM Bread Premix worth circa US$1.9 million (~A$2.7 million) in the first year of the contract.
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