Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF) has entered into a non-binding, non-exclusive master agreement with Gotro Global Pte Ltd to introduce subsidiary Sierra Sage Herbs LLC pet care products to the Singapore market.
Gotro has developed its brand based on providing high quality pet products and brands to discerning pet owners in Singapore and operates as a sister company to leading online pet store Happy Town Pets, which prioritizes healthy, eco-friendly pet treats and products.
Under the agreement, Gotro will market select products from the Sierra Sage Herbs LLC line, including Animal First Aid, Animal Pain Relief, Animal Castile Wash and Bugs Be Gone.
Both parties intend to implement a formal collaboration agreement no later than the end of August, unless the MoU is extended by mutual agreement between the companies.
A collaboration based on eco-responsible quality
“This collaboration was born out of a strong alignment with the idea that consumers want high quality, healthy and environmentally friendly pet care products,” said William Lay, Managing Director and CEO of Creso. Pharmaceuticals.
“We are delighted to have the opportunity to work with Gotro Global and look forward to building a great business together in Singapore.”
The pet care industry is a growing market, particularly in Singapore, which generated A$150 million (US$102 million) in revenue in 2018 and is expected to maintain a compound annual growth rate (CAGR ) by 4.3% until 2021.
“At Gotro, we pride ourselves on being a trusted liaison between manufacturers who care about producing great products and retailers who care about their customers,” said Gordon Nugent, CEO and Co-Founder of Gotro. Overall.
“The Green Goo pet care range fits perfectly into our portfolio and we know it will be a big hit with pet lovers.
“We are delighted to work with the Creso-SSH team to bring these great products to Singapore.”
Creso Pharma and its subsidiary Sierra Sage Herbs LLC intend to continue project development work alongside product introductions scheduled for the third quarter of this year.