The two Swedish food companies Lohilo and Fuud – which produce ice cream and functional food respectively – will collaborate utilize resources and increase profits.
Lohilo Foods AB has entered into an agreement with Fuud AB regarding sales, logistics and distribution. The agreement has a sales value of at least SEK 50 million over a two-year period Through the Agreement, selected brands from Fuud will be sold through Lohilo’s nationwide sales force and distributed directly to customers through Lohilo’s self-controlled distribution, starting on September 16.
– Through the assignment, we continue our strategy of combining sales of our own brands with distribution assignments to utilize our existing resources to the maximum and thus improve our profitability, Richard Hertvig, CEO at Lohilo says in a press release.
Peter Blom, CEO of Fuud comments:
– The collaboration gives us the platform we need, so that we quickly and efficiently can reach profitability and positively contribute to the value for shareholder.
Both companies have shares listed on First North.
Read the full press release HERE