Woolworths Limited
(ASX:WOW) and Hills Limited
(ASX:HIL) today announced a strategic partnership that aligns Australia’s largest retailer with Australia’s most trusted iconic brand. The licensing agreement is for up to 19 years and gives Woolworths exclusive rights to the Hills heritage brand as it applies to more than 240 products including clotheslines, clothes care and garden sprayers.
Under the terms of the agreement:
- Hills will grant Woolworths exclusive rights to the Hills brand as it applies to the agreed product ranges for the Australian and overseas markets;
- Hills maintains ownership of its heritage brand and the intellectual property in product patents and designs including the intellectual property in the Hills Hoist clothesline;
- The licence is for a minimum period of seven years with Woolworths having three options for renewal for further four year periods;
- Hills will receive income from the use of the brand and intellectual property by way of an annual licensing fee that has the potential to increase if product sales exceed agreed levels; and
- Products will be marketed and distributed exclusively by Woolworths.
For further information please download PDF attached:
