Readen Holding Corp.

April 16, 2012 06:37 ET

Readen Holding Corp. (PINKSHEETS:RHCO) Appoints Partner for Portuguese Market Distribution of Vitalon-Holland's Infant Dairy Products

HILVERSUM, THE NETHERLANDS--(Marketwire - April 16, 2012) - READEN HOLDING CORP. (PINKSHEETS:RHCO), a 33% shareholder of Vitalon-Holland Ltd., announced today that Vitalon-Holland Ltd. after signing a major distribution contract for the Chinese market last month, has signed an agreement with a new distributor for the exclusive distribution of the company's infant milk products under their private label Vitalon Holland for the Portuguese market.

The Vitalon-Holland dairy product line will be launched in the Portuguese market in July 2012.

The first 12 month Sales forecast of Vitalon-Holland for the Portuguese market is estimated at 120.000 cans. The company has received an initial order for 60,000 cans of 900 grams infant milk powder divided with a suggested retail price of EUR 14,95 (approx. USD 20).

Outside the Netherlands, this is the first exclusive European distribution contract For Vitalon-Holland Ltd. The company is planning to sign at least two more distribution contracts for other countries in Europe before the end of this year.

Vitalon-Holland Ltd. is presently in discussions with many more parties for the export of its Dairy products outside Europe.

Vitalon-Holland has many companies showing interest in obtaining distribution rights for Turkey, Morocco, Iraq, Cameroon, Congo, Armenia, Taiwan and Vietnam.

After the launch of the product line in China, Portugal and Holland the company will sign agency agreements with distributors in the above-mentioned countries.

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