Goat infant formula maker Bubs Australia has signed a new equity share deal with its biggest corporate daigou partner, Hong Kong-based Willis Trading, in exchange for minimum purchases of its products that is expected to rapidly expand its Chinese consumer base.
Bubs’ lead corporate daigou distributor remains AZ Global in Australia, which is founded and run by Andy Zhang. The equity linked deal is directly with Willis Trading, which has been Bubs’ largest customer since 2020.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
