Supermarket giant Coles will stock ECS Botanics’ hemp seed oil
Health & Biotech
Health & Biotech
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ECS Botanics Holdings has secured a deal to stock its Extra Virgin Tasmanian Hemp Seed Oil in Coles supermarkets nationwide.
A similar deal was announced with Woolworths in November 2019; on that day the share price climbed 41% to 5.8c. Today, the share price popped by another 9% to 3.6c.
In addition to today’s hemp food deal, ECS has built a thriving medicinal cannabis business since it listed in 2019. It’s now the largest medicinal cannabis cultivator in Australia and has been busy signing a series of supply agreements in Australia and into Europe.
Now, ECS Botanics Holdings (ASX:ECS) will have products stocked in both major Australian supermarkets after securing the deal with Coles.
ECS announced today it is expected to have its Extra Virgin Tasmanian Hemp Seed Oil on Coles shelves by October.
It’s the latest Australian supermarket supply deal for ECS, after Woolworths agreed to stock its hemp seed oil and soups.
Coles has more than 2500 stores nationally and will stock ECS’s 250ml Extra Virgin Tasmanian Hemp Seed Oil in its cooking oil section.
Hemp is a variety of cannabis grown specially for its seed and fibre and has low levels of THC. Hemp seed oil is becoming popular amongst consumers as a more environmentally and ecologically sustainable source of Omega 3.
The oil has also been recognised for its anti-inflammatory properties and as a healthy, versatile oil for cooking, baking salads and smoothies.
Hemp seed oil is also popular for its perceived anti-aging properties, as it can nourish the skin without clogging pores. Users have reported that it can ease redness, psoriasis, and eczema.
The medicinal and hemp wellness company will no longer use Just Foods Australia (JFA) for the distribution of its products, in a move to achieve significantly higher margins on its products.
As part of the company’s long-term strategy, further deregulation in Australia and the overlap between medicinal cannabis and CBD markets in Europe, ECS is aiming to capture greater market share and brand recognition.
At the time of writing the ECS share price had risen more than 9% to 0.036.
This article was developed in collaboration with ECS Botanics Holdings, 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.