Elixinol Wellness announcement overview

Elixinol Wellness Limited (ASX: $EXL) is pleased to announce a significant commercial milestone for its premium healthy baking mix brand, Mt Elephant. The brand's four products will be available in Coles, one of Australia's major supermarket chains, from April 2024. The initial purchase order for the products is valued at $178k and is scheduled for delivery in March 2024. The Mt Elephant brand generated approximately $1m in revenue during 2023 (pro-forma basis) and is expected to exit CY24 with an annualized revenue run rate of approximately $2m.

Executive Commentary on Mt Elephant Expansion

We expect expanded supermarket distribution to boost our market presence and contribute to the growth of the baking category in Australia, which is currently estimated at over $600m. With increased distribution and sales velocity in Woolworths and new ranging in Coles, we anticipate Mt Elephant to exit CY24 with an annualized revenue run rate of approximately $2m.

Summary of Elixinol Wellness Announcement

Elixinol Wellness Limited (ASX: $EXL) has announced the expansion of its premium healthy baking mix brand, Mt Elephant, into Coles, one of Australia's major supermarket chains. The initial purchase order for the products is valued at $178k, and the brand is expected to exit CY24 with an annualized revenue run rate of approximately $2m. The company anticipates that the expanded distribution will boost its market presence and contribute to the growth of the baking category in Australia, which is currently estimated at over $600m. Elixinol Wellness operates a vertically integrated business, producing, manufacturing, and distributing a range of highly complementary products across various verticals, including human nutrition, human wellness, pet wellness, and superfood ingredients.