Bubs Australia confirmed that by unanimous Board vote, Beingmate Baby & Child Food Co., Ltd. has entered a non-binding Memorandum of Understanding (MoU) with Bubs Australia Limited (Bubs) with the intention of forming an eventual Joint Venture in Shanghai to distribute and promote Bubs® infant formula and organic baby food products in China. Both parties see merit in the strategic partnership and have a shared intention to move to a definitive form Joint Venture Agreement, expected to be completed during the next month. Under the proposed Joint Venture, Bubs will supply infant formula and organic baby food products to Beingmate's distribution network covering 30,000 Mother and Baby stores throughout China.

Bubs and Beingmate will finalise a sales and marketing plan to cover both Bubs Organic® baby food range which is already sold in around 500 stores in China, and Bubs® infant formula which is currently sold into China via various cross-border e-Commerce and O2O (Online-to-Offline) platforms.