New Zealand Coastal Seafoods (ASX:NZS) (‘NZCS’) is a leading secondary producer of seafood products, premium marine ingredients, and nutraceutical products. The Company has traditionally focussed on the sale of ling maw, however, with the acquisition of Kiwi Dreams International in March 2020, NZCS expanded into the global nutraceuticals market with a one year strategic supply agreement for Europe, as the Company continues discussions with customers worldwide.
NZCS’s nutraceutical products include Green Lipped Mussel Powder, Oyster Powder and Astaxanthin extract products, with the Company building a business case for the extraction of oils from marine ingredients. NZCS is nearing the launch of its flagship marine collagen product, produced using a proprietary processing and extraction technique with the raw product being sourced from Marine Stewardship Council (MSC) certified fisheries. The Company expects purchase orders for the marine collagen product in July 2021.
By continuing the research and development of nutraceutical products, NZCS aims to expand its product offering and further positioning itself as a leader in the global nutraceutical market.
In 2020, the Company received European Union Listing Approval received for the export of nutraceutical marine products to Europe, and US Food and Drug Administration Listing Approval received to export products to the United States. These approvals strongly position NZCS for further international growth in 2021 and beyond.
To drive the next phase of growth, the Company recently bolstered its Board of Directors, with the appointment of industry leaders from the seafood and nutraceutical sectors. NZCS continues to assess potential acquisition opportunities, that align with the Company’s strategy and complement & accelerate product offering and revenue growth.