Bubs shares are soaring on an infant formula deal with Costco

Andrey Nekrasov /Barcroft Images / Barcroft Media via Getty Images

Shares in Bubs Australia jumped after the infant formula make announced a deal with wholesaler Costco.

A short time ago, they were up 10.8% to $0.205. The 10 cent shares have more than doubled since listing on the ASX in January.

Bubs announced that it has closed a supply agreement with Costco to stock the range of Bubs infant formula products in its wholesale catalogue nationally, with a display at the Auburn warehouse in Sydney.

“Costco is a great international retailer and provides Bubs with the opportunity to move towards our goal of developing deeper distribution partnerships with key Australian retailers,” says commercial director Nicholas Simms.

The Bubs infant milk formula and organic baby food is also in Coles supermarkets and pharmacies across Australia.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.