KUALA LUMPUR (Feb 22): Wellspire Holdings Bhd has renewed its distributor supplementary agreement with QiaQia Food Co, Ltd.

In a bourse filing on Tuesday (Feb 21), the company said its 75.01% owned subsidiary Bai Li Enterprise had been appointed as QiaQia’s exclusive distributor of ChaCha sunflower seeds and nuts products in Thailand since 2013, whereby the products supplied by QiaQia will only be sold by Bai Li Enterprise in Thailand.

Wellspire said Bai Li had renewed its distribution contract with QiaQia — the producer of roasted seeds and nuts, and baked snack foods in China.

It said the renewed distribution contract, which will commence from July 1 2022 to June 30, 2023, will see Wellspire continue to distribute the products in Thailand.

Wellspire chief executive officer and executive director Mo Guopiao said the renewal of the contract is a testament to its expertise and wide distribution networks through the company’s indirect distribution channels, honed over a decade in the consumer packaged foods industry in Thailand.

“The contract also reaffirms our position as an established consumer packaged foods distributor in Thailand and is expected to contribute positively to the group’s earnings during the duration of the contract,” he said.

Mo said the demand for healthy snacks like sunflower seeds and nut products is expected to increase in Thailand, as household income and consumer spending are recovering in the post-pandemic phase.