New agreement aims to increase plant-based
protein ingredient options for food ingredients customers in
the United States and Canada
DOWNERS
GROVE, Ill., May 30, 2023
/PRNewswire/ -- Univar Solutions Inc. (NYSE: UNVR) ("Univar
Solutions" or "the Company"), a leading global solutions provider
to users of specialty ingredients and chemicals, announced today
that it has been selected as a distributor of ICL's
Rovitaris textured plant proteins in North America. The companies currently have a
distribution agreement for other ICL specialty food solutions,
including phosphate and food ingredients.
Univar Solutions Expands Food Ingredients
Portfolio with Addition of Rovitaris Plant-Based Proteins from
ICL
"We are excited to continue developing our relationship with ICL
and include their plant-based proteins in our specialty ingredients
portfolio," said Kevin Hack, global
vice president of food ingredients for Univar Solutions. "Not only
does this arrangement provide us broader product representation
with a strategic supplier, it enhances our food portfolio with
complimentary protein products and enables us to better support
meat alternative food producers. Both ICL and Univar Solutions are
dedicated to improving sustainable food options and are an
essential part of the global food supply chain."
In addition to their health and sustainability-related benefits,
plant-based food innovations have helped satisfy new diets, food
market trends, and concerns changing taste preferences. From
specialty ingredient innovation to recipe testing, food brands of
all sizes turn to Foodology by Univar Solutions for help tackling
product development challenges. The organization's knowledgeable
in-house scientists refresh and develop formulas to enhance the
efficacy of products through its food solution centers and test
kitchens while working toward the Company's mission of keeping
people healthy, fed, clean, and safe.
"We're excited to be expanding our relationship with Univar
Solutions in North America to
include plant-based proteins," said Paul
Petersen, global alternative proteins leader for ICL. "ICL
has more than a century of experience, and we are committed to
creating impactful solutions to humanity's sustainability
challenges in the global food markets. At ICL, we contribute to
food security through a broad array of innovative solutions,
including sustainable fertilizers, alternative proteins, and other
products, which reduce food waste by enabling a longer shelf
life."
Foodology by Univar Solutions' food ingredients expertise and
expansive portfolio provides customers with access to innovative
ingredients for next generation products, formulation know-how,
supply chain network, sustainable solutions, and technical
expertise in the dairy, beverages, bakery, meat and poultry, and
snacks space. ICL's Rovitaris portfolio is comprised of plant-based
protein ingredients, which provide texture, stability, and flavor
profiles for a variety of vegan food applications and consumer
products, such as plant-based burgers and milks.
For more information about Univar Solutions' food ingredients
business, visit
univarsolutions.com/foodology.
About Univar Solutions
Univar Solutions (NYSE: UNVR)
is leading global commodity and specialty chemical 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.
About ICL
ICL Group Ltd. is a leading global specialty minerals company,
which creates impactful solutions for humanity's sustainability
challenges in the food, agriculture and industrial markets. ICL
leverages its unique bromine, potash and phosphate resources, its
global professional workforce, and its sustainability focused
R&D and technological innovation capabilities, to drive the
company's growth across its end markets. ICL shares are dual listed
on the New York Stock Exchange and the Tel Aviv Stock Exchange
(NYSE and TASE: ICL). The company employs more than 12,500 people
worldwide, and its 2021 revenues totaled approximately $7 billion. Learn more at icl-group.com.
Forward-Looking Statements
This press release
includes certain statements relating to future events and our
intentions, beliefs, expectations, and outlook 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: general economic conditions, particularly
fluctuations in industrial production and consumption and the
timing and extent of economic downturns increased competitive
pressures, including as a result of competitor consolidation;
potential supply chain disruptions; significant changes in the
pricing, demand and availability of chemicals; our indebtedness,
the restrictions imposed by, and costs associated with, our debt
instruments, and our ability to obtain additional financing; the
broad spectrum of laws and regulations that we are subject to,
including extensive environmental, health and safety laws and
regulations and changes in tax laws; potential cybersecurity
incidents, including security breaches; an inability to generate
sufficient working capital; transportation related challenges,
including increases in transportation and fuel costs, changes in
our relationship with third party transportation providers, and
ability to attract and retain qualified drivers; accidents, safety
failures, environmental damage, product quality issues; delivery
failures or hazards and risks related to our operations and the
hazardous materials we handle, potential inability to obtain
adequate insurance coverage; ongoing litigation, potential product
liability claims and recalls, and other environmental, legal and
regulatory risks; challenges associated with international
operations; exposure to interest rate and currency
fluctuations; possible impairment of goodwill and intangible
assets; the ongoing and evolving COVID-19 pandemic, including
impacts on the global economy, our employees, customers, vendors
and suppliers, and our business, results of operation and financial
condition; significant changes in the business strategies of
producers or in the operations of our customers; an inability to
integrate the business and systems of companies we acquire,
including failure to realize the anticipated benefits of such
acquisitions; negative developments affecting our pension plans and
multi-employer pensions; labor disruptions associated with the
unionized portion of our workforce; our ability to attract or
retain a qualified and diverse workforce; our ability to execute on
our strategies related to environmental, social, and governance
matters, and achieve related expectations may be impacted as a
result of evolving regulatory and other standards, processes, and
assumptions, the pace of scientific and technological developments,
increased costs and the availability of requisite financing and
changes in carbon markets; and the other factors described in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2021, as well as other
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.
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SOURCE Univar Solutions Inc.