Self-care product manufacturer Venture Life has expanded its manufacturing contract with Alliance Pharma plc and extended it until 2025.
The Alternative investment market (Aim) listed company Alliance Pharma has agreed to give Venture Life, also Aim listed, at least €1.6m (£1.4m) per year until 31 December 2025.
The expansion of the contract includes Venture Life producing two new product ranges for Alliance Pharma, each containing four new products, on top of the products it already produces. Venture Life's Italian manufacturing company Biokosmes will take over production of the new business.
Alliance Pharma, which reported almost £28.4m in pre-tax profit last year, produces more than 90 different healthcare products, among them the lip balm brand Lypsyl.
Jerry Randall, CEO of Venture Life, said in a press release: “Alliance is one of our more significant customers and this agreement is a testament to the confidence they have in us and our ability to deliver.”
“In addition to the significant additional business Alliance has agreed to place with us, a further positive is that as part of this deal, we have also been given the opportunity to pitch for future new business that Alliance may put out to tender,” he said.
The additional business given to Venture Life will most likely start from the second half of this year, subject to regulatory requirements.
Peter Butterfield, CEO of Alliance Pharma, said: “We are actively fostering longer term relationships with our key strategic suppliers and are pleased to extend our relationship with Venture Life. Their consistent service and quality excellence will play a pivotal role in delivering growth and unlocking future benefits for both sides.”