Univar Solutions Expands Food Ingredients Portfolio with Addition of Rovitaris Plant-Based Proteins from ICL
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.
"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.
