ROTTERDAM, Netherlands, December 7. Europe, Univar B.V., a subsidiary of Univar Solutions Inc. (NYSE: UNVR) ("Univar Solutions" or "the Company"), a global chemical and ingredient distributor and provider of value-added services, today announced a new distribution agreement with Tata Chemicals Ltd. for its range of prebiotic dietary fibers, FOSSENCE® and GOSSENCE®, for use in the food, beverage and nutraceutical industries in select countries across Europe, Turkey, Egypt and Russia.
The agreement builds on existing relationships in the United States and Canada. FOSSENCE® and GOSSENCE® - produced using a proprietary in-house fermentation technology developed by Tata NQ, the Nutrition Sciences division of Tata Chemicals Ltd, are used in food and beverages, infant and chilled food powder, dietary supplements and health foods. The addition of these digestive health ingredients to Univar Solutions' industry-leading Ingredients and Specialties portfolio provides food, beverage and nutraceutical manufacturers in the regions with additional functional ingredient options to align with the latest health, wellness and nutritional trends.
"Our food, beverage and nutraceutical customers across the globe count on us to help meet their evolving needs, and with that, Univar Solutions is excited to deepen our relationship with Tata NQ," said Matthew Ottaway, senior vice president of consumer solutions at Univar Solutions. "As a market leader in the distribution of specialty ingredients, we look forward to enhancing our strong customer connections across Europe, Turkey, Egypt and Russia. With our strong portfolio of ingredients like FOSSENCE® and best-in-class service, dedicated food and nutraceutical industry expertise, technical support and a network of innovative test kitchens, we can help our customers bring their product vision to life."
Tata NQ produces prebiotic dietary fibers designed to help promote the growth of a healthy microbiome. The ingredients are used for a variety of purposes, with benefits that include helping mask off-notes, acting as a flavor enhancer, increasing the freezing point and extending the shelf life across many food and beverage applications.
"EMEA is a focus market for us, and we are confident that our partnership with Univar Solutions will provide our customers with quicker access, shorter lead times and exceptional customer service," said Venkatadri Ranganathan, COO, Nutrition Sciences Business, Tata Chemicals Ltd. "Our portfolio of science-backed ingredients manufactured using our patented whole-cell fermentation technology addresses the needs of the health-conscious, hyperaware customers of today by delivering prebiotic health benefits across the Food and Nutraceutical applications. We are sure that Univar Solutions would be a great partner and will add to our 80+-year-old global legacy and values synonymous with the Tata Group."
About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and technical sales force, unparalleled logistics know-how, deep market and regulatory knowledge, formulation and recipe development, and leading digital tools, the Company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. While fulfilling its purpose to help keep communities healthy, fed, clean and safe, Univar Solutions is committed to helping customers and suppliers innovate and focus on Growing Together. Learn more at univarsolutions.com.
Forward-Looking Statements
This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and predictions for the future, which are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company's filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: the ultimate geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our customers and suppliers; the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; other fluctuations in general economic conditions, particularly in industrial production and the demands of our customers; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our levels of indebtedness, the restrictions imposed by our debt instruments, and our ability to obtain additional financing when needed; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; an inability to integrate the business and systems of companies we acquire, including of Nexeo Solutions, Inc., or to realize the anticipated benefits of such acquisitions; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality and liability issues and recalls; major or systemic delivery failures involving our distribution network or the products we carry; operational risks for which we may not be adequately insured; ongoing litigation and other legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; potential impairment of goodwill; liabilities associated with acquisitions, ventures and strategic investments; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company's filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this press release is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek, "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.