Freedom Foods shares jump

SHARES in Freedom Foods jumped more than 5 per cent yesterday after the health food manufacturer announced it had joined Alibaba Groupowned Theland to create a range of cereals and snacks in China.

The deal will allow Freedom’s Arnold’s Farm Brand – which is already one of the top three oat cereals on Alibaba’s Tmall International – to grow its range for the Chinese market.

Theland will become the exclusive distributor for the cereal and snack range and use the Alibaba Group’s online retail reach to leverage sales.

Arnold’s Farm brand is now selling in 4000 outlets across China, Freedom Foods managing director and chief executive Rory Macleod said.

“It is strategic long-term partnerships like this with Theland that will help us continue our strong trajectory,” he said added..