Last checked at 16 Feb 2023 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310
16 February 2023
Chill Brands Group plc
("Chill Brands" or the "Company")
Commencement of Third-Party Sales
Chill Brands Group, the international consumer packaged goods company, is pleased to provide an update on the development of its online sales strategy following the addition of the first third-party brand to the Chill.com website.
Products from Mad Tasty, America's leading brand of hemp-infused beverages, are now available for purchase by US consumers on Chill.com. Founded in 2018 by the Grammy Award-winning lead singer of OneRepublic, Ryan Tedder, Mad Tasty offers a range of functional and hydrating beverages infused with premium hemp extract. The brand is partnered with Interscope Records and has enjoyed extensive media coverage from outlets including Forbes, Fortune, Rolling Stone, British GQ, and Buzzfeed.
Over the coming weeks and months, Chill Brands and Mad Tasty will engage in a variety of cross-promotional activities to drive engagement and sales via Chill.com. The Company intends to develop the site as an online destination for sales of unique products while championing categories of in-demand consumer-packaged goods that may be underserved or overly restricted by existing eCommerce marketplace sites. Chill Brands will earn commissions from all sales made on the site.
The Company has reached agreement with five additional brands and continues to negotiate with numerous others with a view to selling their products on the Chill.com marketplace. Further updates will be issued in due course.
Dan Kelly, Vice President of National Accounts for Mad Tasty, commented:
"We are thrilled to be joining the Chill.com marketplace and are excited to continue growing our audience with the Chill Brands team. Mad Tasty has been built around cutting-edge, innovative ideas and we are certain that Chill Brands' approach will be of huge value to us and other brands that join."
Callum Sommerton, Chief Executive Officer of Chill Brands, commented:
"We are extremely proud to welcome Mad Tasty to Chill.com and can think of no better brand partner to kickstart this expansion of our eCommerce strategy.
This is the first visible step towards the creation of a marketplace on Chill.com, which we intend to aggressively develop as a home for novel products, natural ingredients, and compelling brands. Most importantly, this marketplace model will also serve as a scalable new revenue stream that will complement the imminent expansion of our own 'Chill' branded product range."
About Chill Brands Group
Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is an international product development and distribution company primarily concerned with the sale of products containing natural, functional active ingredients such as CBD. The Company sells its own range of best-in-class tobacco alternatives and other consumer packaged goods (CPG) products via a retail network that includes of some the most recognisable convenience store chains in the United States. The Company also operates the chill.com website upon which it is developing an e-commerce marketplace that will earn commissions from the sale of products from third party brands.
Publication on website
A copy of this announcement is also available on the Group's website at http://www.chillbrandsgroup.com
Media enquiries:
Chill Brands Group plc | contact@chillbrandsgroup.com |
Allenby Capital Limited (Financial Adviser and Broker) | +44 (0) 20 3328 5656 |
Nick Harriss/Nick Naylor (Corporate Finance)Kelly Gardiner (Equity Sales) |