Australian-Fijian medicinal kava health and wellness company, Fiji Kava is now in an equity-linked partnership with Chemist Warehouse Group.
This will see Fiji Kava become a platinum supplier.
Chemist Warehouse will receive up to 12,995,454 shares in Fiji Kava at 11c per share in a strategic association, that will expand Fiji Kava’s presence in Chemist Warehouse stores in Australia and New Zealand.
Additionally, it will see Fiji Kava products launch in Chemist Warehouse stores in Ireland and via their Alibaba Tmall Global store.
“This investment signals our strong belief in Fiji Kava as a company that has something truly unique to offer in the natural medicine market,” says Chemist Warehouse Chairman and Co-founder, Jack Gance.
“Pharmacy is the clear leader for kava consumers, with this strategic alliance deepening our relationship with Fiji Kava while providing our global consumer network with access to their high-quality noble kava varieties.”
Mr Gance continues by saying that they only “partner with organisations that share our values and have a clear strategy to deliver on their ambitions for growth”.
Chemist Warehouse will make the first half of their investment by the end of 2021, they will also take a hands-on role in driving marketing and sales for Fiji Kava products.
The second half of the investment will be recognised at following achievement of target sales in FY23 and will see a further delivery of co-funded advertising, sales and marketing activities.
CEO of Fiji Kava, Dr Anthony Noble adds: “To have Australia’s leading pharmacy brand take a strategic equity stake in our business only two months after our unique noble kava varieties were launched in Chemist Warehouse stores and online is transformational for us.
“We look forward to working with Chemist Warehouse to maximise the distribution and marketing opportunities now available to Fiji Kava across their large global pharmacy network in Australia, New Zealand and Ireland, with the launch of our products in Chemist Warehouse’s Tmall Global store, we also see another key avenue for growth in sales in China.”