Chemist Warehouse boosts company's value
Shares in infant formula maker Bubs Australia have rallied on news the company's baby cereals have been listed by Chemist Warehouse.
All of Chemist Warehouse's 400-plus stores now stock Bubs Organic Baby Cereal while its goat milk infant formula products are being sold on the Chemist Warehouse e-commerce site.
Bubs Australia says this expands its total pharmacy distribution footprint to more than 700 outlets.
Bubs' share price was up 8.82% or 1.5 cents, to 18.5 cents at 1413 AEDT on Monday.
Commercial director of Bubs' infant formula division Nicholas Simms said the partnership with Chemist Warehouse gives the company a significant opportunity to reach more consumers in Australia and China.
Last week, the company said that supermarket giant Coles was significantly increasing the number of stores that stock its baby formulas and that a partnership with Sigma Pharmaceuticals