Benchmark has announced that it's subsidiary INVE Aquaculture Holding has successfully renewed its sales and marketing agreement with the Great Salt Lake Brine Shrimp Cooperative, Inc.

Under this long-term agreement, the Benchmark group maintains its rights to distribute a substantial share of the GSL COOP's harvest of artemia from the Great Salt Lake, Utah.

Historically, artemia supplied under the sales and marketing agreement has represented approximately 60% of INVE's total artemia sales, and generated revenues of over £30m in 2016.  The renewal of the sales and marketing agreement secures the Company long-term access to top quality artemia.

Alongside continuation of the sales and marketing agreement, INVE has entered into a similarly long-term distribution agreement with the GSL COOP for INVE\'s current and future artemia-related products and technologies.  INVE is developing a range of breakthrough artemia-related feed products, which are on track to be launched in early 2020.  The distribution agreement with the GSL COOP provides Benchmark with access to additional distribution channels and customers for INVE\'s artemia-related products, and will contribute to growth in sales from 2020 onwards.  

"We are extremely pleased to be continuing with and building on our important relationship with the GSL COOP," stated Malcom Pye, Benchmark CEO. \"Access to the GSL COOP's customer base will compliment Benchmark's existing distribution networks for its developing artemia-related product portfolio, and is expected to create significant growth in sales across the Advanced Animal Nutrition division in the years to come." 

Both the sales and marketing agreement and the distribution agreement have an initial 10-year term.  Under the sales and marketing agreement, GSL COOP has a 5-year break clause in certain circumstances related to new product development.