Beston signs two distribution deals in Vietnam

Company News

by David Chau

Beston Global Food Company (ASX:BFC) has entered distribution agreements with two companies in Vietnam: the TMT Trading Company Ltd and Vietnam Beef Business Company Ltd.

TMT is large food distribution business in Ho Chi Minh City, and the contract is for 5 years. This deal covers the distribution in Vietnam of Beston’s high alkaline water, Edwards Crossing cheese and Kyubu cheese.

As for the Vietnam Beef contract, it is targeting minimum sales of $10 million in the first full year of operations.

Beston sees Vietnam as an opportunity because the country consumes more meat than it can produce domestically, with the gap widening each year– therefore providing an opportunity for high quality Australian meat exports.

Beston posted a net loss of $1.7 million at 30 June 2016.

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