Bioxyne selects ASVA as distributor for South East Asia and Mauritius

Australia-based health and wellness products producer Bioxyne has appointed Malaysia-based sales and marketing company ASVA International as its distributor for the Thailand, Philippines, Myanmar, Cambodia and Mauritius (TPMCM) region.

The deal will see ASVA exclusively distribute Bioxyne’s dairy formula-based products in these markets.

ASVA is expected to draw support from Bioxyne’s direct sales system and platform and is excluded from selling competing products as part of the arrangement.

A first order of $200,000 has already been secured in support of the development.

Bioxyne CEO N H Chua said: “This initiative will give Bioxyne immediate access to its products in the Asian region through established direct sales channels.

“This will allow the company to focus on developing Malaysia, where it has a direct selling license, and to work on other key markets in Asia.”

In addition, Bioxyne has also entered a call option deed that grants the company an option to acquire a 70% interest in the business in each country before 1 July 2021.

The consideration for the acquisition will be based on an agreed multiple of EBITDA.

Bioxyne is active in the consumer dietary supplements and functional foods markets via its proprietary probiotic products, as well as an acquisition in New Zealand, which is now trading as Bioxyne International.

The Australian firm is also engaged in the development of a wide range of functional food products using ingredients sourced exclusively from New Zealand.

Bioxyne previously signed a manufacturing and distribution agreement to expand its probiotic business with Chr. Hansen (Denmark), a global manufacturer of natural food additives and supplements products for the food, agriculture and health industries.