Univar exclusivity extended to 31 December 2028
Wide Open Agriculture (ASX: WOA) and Univar Solutions China (Univar) have extended their Offtake and Distribution Agreement, and Univar’s exclusive right to market and distribute WOA’s lupin protein products in mainland China now runs to 31 December 2028. The China distribution agreement was announced as extended on 27 October 2026.
Exclusivity is conditional. Univar must purchase a minimum of 50 tonnes within 12 months of commercial supply becoming available to maintain it.
WOA Chief Executive Officer Craig Swan framed the extension as a continuation of an existing relationship. A longer exclusive runway keeps a major China channel in place while WOA transitions to contract manufacturing and works to restore commercial supply.
Craig Swan, Chief Executive Officer, WOA
“We continue to have a strong partnership with Univar, based on our shared belief in the future potential for lupin ingredients in China… Our priority is to complete the selection of our contract manufacturing partner and restore supply as soon as possible.”
Background to the original agreement
The original agreement, announced on 30 April 2025, appointed Univar as the exclusive distributor of WOA’s lupin protein products in mainland China. It required Univar to purchase a minimum of 50 tonnes of lupin protein isolate over a 12 month period.
Since then, Univar has completed customer trials and confirmed its commercial rollout strategy for China.
WOA is transitioning to contract manufacturing and the German facility has been wound down. As a result, commercial product has not been available to Univar within the original timeframe.
The contract manufacturing transition replaces the German plant with a capital-light model, targeting 500-1,000 tonnes per annum of initial Asian capacity within a four-stage scale-up plan.
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Key terms of the extended agreement
The table below summarises the terms set out in the announcement.
| Term | What the extension says |
|---|---|
| Term and exclusivity | Extended to 31 December 2028, subject to Univar continuing to satisfy its marketing commitments |
| Marketing commitments | Ongoing customer engagement, market development and product application trials, subject to the reasonable availability of product samples |
| Minimum purchase requirement | 50 tonnes over 12 months, now commencing from the date WOA notifies Univar in writing that commercial quantities of product are available for supply |
| Exclusivity safeguard | If Univar materially fails to meet its commitments, WOA may, following 30 days’ written notice and an opportunity to remedy, convert the distribution right to non exclusive |
| Other terms | All other terms remain unchanged |
What the deal does not do
The agreement is not a purchase order and has no immediate financial impact on the company. There is no immediate revenue to be received by WOA from Univar.
Revenue will only arise once commercial supply has been restored and pricing is agreed between the parties. The agreement does not oblige WOA to commence supply by a specified date, and the timing of commercial supply will depend on the successful implementation of WOA’s arrangements to restore it.
Why lupin protein and Univar’s reach matter
Lupin protein isolate is a plant-based protein ingredient. WOA describes its isolates as recognised for clean taste, high performance and broad functionality, with applications including plant-based dairy alternatives, meat substitutes, baked goods and health-focused products.
An exclusive distribution agreement with a minimum purchase condition gives a supplier a dedicated channel partner with a volume commitment attached. Here, that commitment is the 50 tonne minimum Univar must meet to keep exclusivity.
Univar Solutions China is the Chinese division of Univar Solutions Inc. According to the 2026 ICIS Top 100 ranking, Univar Solutions is the world’s third largest chemical and ingredient distributor, with US$11.5 billion in sales in 2025. Headquartered in Shanghai, it serves customers across food and nutrition, personal care, pharmaceuticals and advanced materials throughout mainland China.
For investors, the CEO said Univar continues to provide real insight supporting the attractiveness of lupin protein in the beverage and nutrition space.
What happens next for WOA
The announcement points to the following milestones:
- Framework agreements: WOA is progressing framework agreements with four prospective contract manufacturing partners, announced on 10 August 2026 and 14 September 2026, with the objective of securing a preferred long term manufacturing partner.
- Commercial supply notice: Once commercial quantities of product are available, WOA will notify Univar and the 12 month period for the minimum purchase of 50 tonnes will commence.
- Market updates: WOA will update the market as these milestones are achieved.
The extension preserves the China channel through to 31 December 2028. The investment case, as the announcement frames it, rests on restoring commercial supply through a contract manufacturing partner.
The shortlist of four prospective contract manufacturing partners spans Vietnam, India and Indonesia alongside the earlier Proeon agreement, and each framework carries IP protections that remain enforceable for five years after termination.
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