Veg of Lund signs letter of intent for distribution and sales of DUG in Italy
Veg of Lund has signed a Letter of Intent (“LOI”) with Romagnoli F.lli S.p.A. The companies will cooperate with the common goal of selling, marketing and distributing Veg of Lund’s products under the DUG® brand in Italy.
“The letter of intent is a continuation of implementing the strategy of partly distribution-based business model to complement license and direct sales. Romagnoli F.lli S.p.A is one of the leading Italian companies active in the processing and marketing of fruit and vegetables, especially potatoes. Romagnoli F.lli S.p.A is an excellent partner for our potato-based products on the Italian market. We aim on concluding the partnership agreement”, says Fredrik Carling, CEO of Veg of Lund.
Romagnoli F.lli S.p.A., established in Bologna in 1928, is involved in the distribution of seed, ware, and processed potatoes. Founding its strategy on long-term partnerships and cooperations and with a team of specialists, product developers, marketers, and sales they have successfully launched their innovative varieties and potato products on the European market.
“We are very enthusiastic and proud to collaborate with this innovative company, and we expect huge interest in DUG potato-based drink from Italian consumers. It’s an entirely new and unique product”, says Giulio Romagnoli, CEO of Romagnoli F.lli S.p.A.
For more information, please contact:
Veg of Lund AB
Fredrik Carling, CEO
Telephone: +46 703 121 942
E-mail: fredrik.carling@vegoflund.se
About Veg of Lund AB (publ)
Veg of Lund AB (publ) develops, markets and sells plant-based foods that meet consumer demands for taste and sustainability. Veg of Lund has its roots in research at Lund University and the company’s business concept is to use its knowledge, patented methods and innovative solutions to develop and sell tasty, climate-smart and locally produced products based on potatoes. Veg of Lund offers alternatives to dairy products (milk drinks) and snacks (smoothies) and also develops meat alternatives. The company’s products are sold under the DUG brand to consumers, restaurants and food companies in Sweden, Switzerland, Denmark, England and Ireland. The company has the ambition to expand mainly in Europe and Asia. The share is listed on Nasdaq First North and trades under the name VOLAB. Read more at ir.vegoflund.se. Mangold Fondkommission AB is the company’s Certified Adviser and can be contacted by phone: +46 8 5030 15 50 or e-mail: ca@mangold.se.
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