The deal confirms the ability of the WNX management team to execute on key partnerships as it builds a leading product/distribution strategy. Image: Getty
Health & Biotech
The deal confirms the ability of the WNX management team to execute on key partnerships as it builds a leading product/distribution strategy.
Leading health and wellness company Wellnex Life (ASX:WNX) has taken the latest step forward in its global distribution strategy after signing a licensing agreement with US nutritional supplements brand Performance Inspired.
The deal will give Wellnex Life exclusive distribution rights in Australia and New Zealand for Performance Inspired products, as well as first rights to expand distribution to Asia.
Investors responded positively to the announcement, sending shares in WNX almost 8% higher in morning trade to 14c.
Founded in 2015, Performance Inspired has grown to become one of the fastest nutritional supplements companies in the US market.
The company was launched by high-profile actor and entertainer Mark Wahlberg and industry expert Tom Dowd, who was previously general manager of global supplements company GNC and brings more than 25 years of experience.
In addition to entertainment career, Wahlberg is a health and fitness enthusiast who has gone on to launch a number of successful entrepreneurial ventures.
Performance Inspired built its market reputation with a focus on all-natural ingredients, steering clear of over-hyped health fads or supplement products with unproven nutritional value.
As a measure of their commitment to the brand, both Wahlberg and Dowd have put their names on the label of the Performance Inspired product range that spans almost 60 nutritional products and supplements.
Commenting on the deal, WNX CEO George Karafotias said it’s reflective of the management team’s ability to secure key partnerships with market-leading companies and distribution outlets.
He added that the Performance Inspired product suite fills a specific gap in the Australian health and supplements market with its market-leading range.
“Backed by Mark Wahlberg and Tom Dowd, we think the all-natural range of products will appeal to our market and are excited to bring these across the Pacific,” he said.
“We expect to be able to announce Performance Inspired ranging agreements with national retailers soon.”
Dowd said Performance Inspired was “thrilled” to ink a partnership with WNX, expanding its distribution into the Australia/New Zealand market in a sector which is “red hot”.
“This is an exciting time for Performance Inspired as we continue to expand and introduce consumers to better products they can trust to support their healthy and active lifestyle,” Dowd said.
Following on from the announcement, Wellnex Life also flagged an upcoming investor briefing this Friday, August 20 at 12pm AEST for investors to learn more about the Performance Inspired deal. Click here to register.
This article was developed in collaboration with Wellnex Life, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
