Aker BioMarine (OSE: AKBM) and Schiff Nutrition International (NYSE:WNI) expanded their supply agreement through at least June 2016 to provide Schiff high quality Aker BioMarine krill oil. Further, Schiff is granted certain exclusive sales rights, and the parties have agreed to collaborate on future innovations.
Schiff Nutrition is the maker of the world's leading krill oil brand, MegaRed®. Aker BioMarine, the exclusive supplier of Superba(TM) krill oil and other krill based products to Schiff Nutrition International, has undertaken to deliver up to 300 metric tons of krill oil per year.
"Determined to build world class operations and premium brands, we strive to form long-term relationships with quality suppliers," said Tarang Amin, president and CEO of Schiff Nutrition International. "Aker BioMarine delivers high quality Marine Stewardship Council (MSC) certified krill oil. This agreement secures a sustainable source capable of meeting our growth aspirations. In addition, we have plans to leverage Aker BioMarine's expertise and collaborate on future krill products and innovation."
"Schiff Nutrition, with its market leading MegaRed brand, offers Aker BioMarine a long-term growth platform," said Hallvard Muri, CEO, Aker BioMarine. "We are pleased to partner with the company to further develop the benefits of our phospholipids krill with no fishy taste or smell. Schiff Nutrition has invested in growing this category, and we look forward to working with the team on future category-building initiatives."
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.