3rd May 2016 07:30
LONDON (Alliance News) - Consumer self-care products company Venture Life Group PLC on Tuesday said it has signed its first distribution deals for its UltraDEX fresh breath products range.
Venture Life said it has signed five-year distribution deals with Laboratorios Serra Pamies SA in Spain and Shanghai Rifto Medical Co Ltd in China. No financial details on the deals were disclosed.
Venture Life acquired the UltraDEX products through its GBP5.6 million acquisition of Periproducts Ltd in February.
"We expect these two agreements alone to generate levels of revenue in the next 12 months for Venture Life which would represent a significant multiple of the 2015 international revenues of UltraDEX achieved prior to the acquisition," said Jerry Randall, Venture Life's chief executive.
"With the level of interest we are seeing in UltraDEX we fully expect to conclude further distribution agreements on this range during 2016 and beyond," he added.
Venture Life shares were up 4.4% to 56.35 pence Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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