Bayn opens for a new business model with Barentz to replace the previous exclusivity Stevia distribution contract
Bayn Europe and Barentz have mutually agreed upon the termination of their exclusive stevia distribution contract in Europe effective from Sep 2016, a new cooperation model is under discussion. The decision comes after mutual evaluation of market potential and business strategies, and it opens up for Bayn Europe to work also with other solution driven partners to reach more food and beverage companies for healthy sugar reduction in Europe.
The exclusivity contract for Stevia solution between Bayn Europe and Barentz has been in effect since March 2012, and was signed after a one-year evolution following the approval of stevia in the EU Nov 2011. The two companies have since worked together to set a sales strategy for stevia on the European market.
“The cooperation with Barentz enabled a route to market for Bayn’s Stevia application in European market. As the market is now maturing, both parties saw a need to renegotiate our cooperation agreement. The termination of the exclusivity supports Bayn’s continued market expansion and opens up for us to work with new partners for our sugar reduction solution. We look forward to continuing to provide Stevia as a single ingredient to Barentz as a market leader in food ingredient distribution”, said Lucy Dahlgren, MD Bayn Europe AB.
”Bayn has evolved from a stevia specialist to a sugar reduction specialist. During the pasted years both companies have invested a lot in market and sales exploring and gained market trust, Barentz decided to focus on Stevia as a raw material for the future market, and the termination of exclusivity was based on Barentz business model and focus.” said Geert Ingelbert, VP Food and Nutrition, Barentz.
Since 2011, Bayn has worked closely with Barentz to train their sales team and to give them Stevia technical application for achieving sugar reduction benefit. The cooperation has helped both companies gain customer relationships in the field of sugar reduction by using Stevia, while also having proven the technical capability in taste and texture of Bayn’s sugar reduction solutions based on stevia.
"Sugar is a multi functional ingredient and plays a key role in the flavour, structure and function of food we consume today. Reducing and removal of sugar from food gives rise to changes and problems which cannot be addressed by solely adding sweet taste like Stevia. We are now discussing with strategic partners who are focused on bringing market value in an holistic and systematic manner for healthy sugar reduction”, continued Lucy Dahlgren.
Bayn Europe is an independent supplier of cutting edge and healthy sugar reduction solutions for the food and beverage industry. Bayn’s ingredient solutions from natural sources, refined through scientific research and extensive market experience, facilitate new healthier formulations and recipes focused on taste and texture to help food and beverage companies around the world reduce sugar and calories in their products. Bayn Europe was founded in 2009 in Stockholm, Sweden. For more information www.bayneurope.com
Bayn is listed on Nasdaq stockholm, First North, under the short name BAYN
Mangold Fondkommission AB is Bayn’s certified adviser. Telefon +46-8-5030 1550.
For more information, please contact Lucy Dahlgren, Managing Director Bayn Europe AB, e-mail email@example.com
Denna information är sådan information som Bayn Europe AB är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 13 januari 2017 kl. 14.15 CET.