Neptune Wellness Expands Sprout Organics CoComelon Co-Branded Organic Baby Food into Target Stores

Rhea-AI Summary

Sprout Organics and CoComelon products are now available in select Target storefronts and Target.com. Four popular Sprout Organics x CoComelon co-branded organic toddler pouches are now sold at Target stores across the US and online at Target.com. Sprout aims to expand its reach and accessibility through this partnership with Target, bringing nutritional snacks to a larger audience of children.

Positive

• Sprout Organics has achieved significant distribution gains, with its products now available in 90% of the organic baby food market.
• Four Sprout Organics x CoComelon SKUs have been launched in select Target stores nationwide and Target.com, contributing to the company's growth.
• Sprout's Yes Yes Veggie product, co-branded with CoComelon, is now its highest selling pouch in the latest 26 weeks in Total US xAOC1.
• Sprout products are now available in all 50 states in the US and in Canada.

Negative

• None.

Sprout Organics x CoComelon products are now available in select Target storefronts and Target.com

LAVAL, QC and MONTVALE, N.J., May 2, 2023 /PRNewswire/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT), a consumer-packaged goods company focused on plant-based, sustainable and purpose-driven lifestyle brands and Sprout Organics ("Sprout"), the Company's organic plant-based baby food and toddler snack company, today announced that four of its most popular Sprout Organics x CoComelon co-branded, organic toddler pouches have been picked up by Target and are now available in select Target Stores across the United States, and Target.com. 

"The opportunity for Sprout to expand the reach and accessibility of our CoComelon product line through Target doors is a validating milestone for the growth of Sprout," commented Chief Executive Officer of Sprout, Sarah Tynan. "Our co-branded products continue to perform well as we build on the success of our exclusive CoComelon partnership. We would like to thank Target for their collaboration as we work toward our strategy to grow our presence within the addressable market and bring nutritional snacks to a larger audience of children." 

The Sprout Organics x CoComelon line includes 15 SKU's that are made up of toddler pouches, Wafflez snacks, and plant-based snack bars, each leveraging CoComelon's brand as the #1 Kids YouTube Channel in the world.   

In addition to the CoComelon partnership, Sprout Organics SKU's consist of organic toddler pouches, toddler meals, toddler snacks and the newly launched Big Kid Mealz; Sprouts first product out of the baby aisle.

In the last year, Sprout has made the following major distribution gains and sales milestones:

• Distribution: Now available in 90% of the organic baby food market, Sprout x CoComelon being a key driver of sales velocity.
• Target SKU Count: 4 Sprout x CoComelon SKUs launched in select Target stores nationwide and Target.com.
• Added Distribution: In the last year, Sprout has established substantial distribution gains with leading retailers, and Target has contributed to that growth.
• CoComelon Co-Brand: Yes Yes Veggie product is now Sprout's #1 highest selling pouch in the latest 26 weeks in Total US xAOC¹.
• Geographic Presence: Now available in all 50 states, as well as in Canada.

About Sprout Organics
Sprout Organics is an organic baby food brand that strives to make mealtime easy and fun for parents and babies through delicious snacks and meals made with fresh, organic ingredients. The company aims to make life less complicated, give children a head start in life, and explore new foods with excitement with three simple promises: Keep it real, keep it simple and keep it fun. Sprout uses only the best, real and organic ingredients in everything it makes which means certified organic foods in every bite straight from nature, no GMOs. To learn more, please visit www.sproutorganics.com.

About Neptune Wellness Solutions Inc.

Headquartered in Laval, Quebec, Neptune is a consumer-packaged goods company with a mission to redefine health and wellness. Neptune is focused on building a portfolio of high quality, affordable consumer products in response to long-term secular trends and market demand for natural, plant-based, sustainable and purpose-driven lifestyle brands. The Company utilizes a flexible, cost-efficient manufacturing and supply chain infrastructure that can be scaled to quickly adapt to consumer demand and bring new products to market through its mass retail partners and e-commerce channels. For additional information, please visit: https://neptunewellness.com/.

Disclaimer – Safe Harbor Forward–Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements include, among other things, statements with respect to the growth of Sprout, including through the expansion of Sprout's CoComelon product line.

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1)  Sales velocity: Sales dollars per total point of distribution; Nielsen AOD; Total US x AOC Latest 26 weeks W/E 3-25-23

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SOURCE Neptune Wellness Solutions Inc.

FAQ

What products are now available at Target stores and online?

Four popular Sprout Organics x CoComelon co-branded organic toddler pouches are now available at select Target stores across the US and on Target.com.

What is the goal of Sprout Organics' partnership with Target?

The goal is to expand the reach and accessibility of Sprout's CoComelon product line and bring nutritional snacks to a larger audience of children.

What distribution gains has Sprout Organics achieved?

Sprout Organics products are now available in 90% of the organic baby food market.

How many Sprout Organics x CoComelon SKUs have been launched at Target?

Four Sprout Organics x CoComelon SKUs have been launched at select Target stores nationwide and Target.com.

What is Sprout's highest selling pouch?

Sprout's Yes Yes Veggie product, co-branded with CoComelon, is now its highest selling pouch in the latest 26 weeks in Total US xAOC1.

Where are Sprout products available?

Sprout products are available in all 50 states in the US and in Canada.