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PuriCore Signs $13.5 Million U.S. Deal
6/20/2013 6:51:21 AM
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PuriCore Signs Major US Deal
June 20, 2013 -- PuriCore (LSE: PURI), the global company focused on advancing human health through the control of infectious pathogens, today announces it has signed a sales agreement for its new ProduceFresh™ bottled concentrate valued at an estimated $13.5 million with a top-three US supermarket retailer. Under the terms of the agreement, the retailer will use ProduceFresh across all of its stores for a committed term of approximately four years commencing in Q3 2013. PuriCore expects this revenue will be booked in the Company’s financial accounts from 2013 through to 2017.
ProduceFresh is the most recent product offering in the PuriCore supermarket retail portfolio, which includes the Sterilox® Fresh System and FloraFresh® bottled concentrate. Like the Sterilox Fresh System, new ProduceFresh bottled concentrate reduces the risk of the transmission of foodborne illnesses in retail supermarkets and reduces inventory shrink. This new offering provides retail customers with greater choice according to their business model, either on-site generation of Sterilox Fresh solution or delivery of ProduceFresh bottled concentrate solution for on-site dilution.
This additional bottled product provides PuriCore with a long-term recurring revenue stream and reduces the costs of manufacturing, installation, and servicing.
Michael Ashton, Executive Chairman, said:
“ProduceFresh is an important expansion to our product portfolio as this sales agreement clearly demonstrates, offering customers a choice that best addresses their particular business needs. The ProduceFresh offering also enables us to increase our market reach to retail customers and foodservice operators whose businesses are better suited to a bottled product.”
About the Sterilox Fresh System, ProduceFresh, and FloraFresh
Leading US and Canadian supermarket retailers, including three of the top-five US chains, rely on PuriCore’s products to extend shelf-life and to address cross-contamination for fresh produce and flowers. The Sterilox Fresh System and ProduceFresh are a natural food-safe rinse that kills harmful pathogens and spoilage organisms, including e.Coli, Salmonella, Listeria, and Norovirus, on contact to keep perishable produce safer and fresher for longer. With extended freshness and shelf-life, these products provide labour and inventory shrink cost savings to supermarket retailers.
FloraFresh is used to improve the quality and shelf-life of high-margin floral products as well as to reduce the labour cleaning costs. FloraFresh controls the growth of bacteria, viruses, and spoilage organisms, including Pseudomonas, Botrytis (gray mold), and powdery mildew, in floral water to keep floral buckets clean and flowers hydrated longer.
PuriCore plc (LSE: PURI) is an established global company focused on safely and effectively protecting people from the spread of infectious pathogens. The Company’s products, services, and technologies are used in a broad range of markets that depend upon effective pathogen control. PuriCore is the leading full provider of all products and services required for a safe, efficient, and compliant endoscope decontamination to protect patients in UK hospitals. The Company’s products are the standard for food safety and are used for floral care in leading US supermarket chains. PuriCore also offers a breakthrough wound therapy solution to treat chronic and acute wounds including diabetic ulcers and burns. PuriCore is headquartered in Malvern, Pennsylvania, with operations in Stafford and Clevedon, UK. To receive additional information on PuriCore, visit www.puricore.com, which does not form part of this announcement.
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