Tianli Agritech (OINK) Announces Strategy Refocus; Terminates Agreement w/ An Puluo Food
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Tianli Agritech, Inc. (Nasdaq: OINK) announced that the Company is refocusing its retail expansion strategy. In conjunction with the revised strategy, Tianli terminated its exclusive agreement with An Puluo Food, Inc. ("An Puluo") executed on March 29, 2011.
Tianli and An Puluo Foods began selling branded packaged pork through An Puluo's retail distribution channels in April 2011. After 14 months of collaboration, Tianli has decided to diversify its retail distribution to more partners in order to reach a broader customer base to larger cities for its branded pork products. As a result, Tianli terminated its exclusive marketing program with An Puluo Foods to provide the Company additional retail and meat processing options and partnerships. In the near term, Tianli will remain a customer of AnPuluo Foods to service their combined customer base of Tianli-AnPuluo branded pork meats while the Company engages other, non-exclusive, sales agreements.
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Tianli and An Puluo Foods began selling branded packaged pork through An Puluo's retail distribution channels in April 2011. After 14 months of collaboration, Tianli has decided to diversify its retail distribution to more partners in order to reach a broader customer base to larger cities for its branded pork products. As a result, Tianli terminated its exclusive marketing program with An Puluo Foods to provide the Company additional retail and meat processing options and partnerships. In the near term, Tianli will remain a customer of AnPuluo Foods to service their combined customer base of Tianli-AnPuluo branded pork meats while the Company engages other, non-exclusive, sales agreements.
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