Bayn signed a Letter of Intent with Toikako Kaubandus OÜ, after discussions about market entry strategies in Estonia.
The Letter of Intent (LoI) includes distribution of the Bayn sugar-reduction solution product line EUREBA and the sugar-reduction ingredients line Navia. It is effective from March 2017 for an initial period up to April 30 2017.
“Estonian partner Toikako Kaubandus OÜ is a distribution company with 25 years of experience on the Estonian market. Toikako Kaubandus OÜ is currently one of the leading Estonian companies supplying the food industry with raw material. Over the years, they have developed good co-operation with many Estonian bakery, confectionary, beverage and dairy industry companies in the country”, says Lucy Dahlgren, MD of Bayn Europe.
The company has scanned its product portfolios and channels to market. Bayn’s decision of signing the letter of intent was based on both the company profile and their ability to cover the market, supporting its customers in specific solution driven applications, which fit Bayn’s business model.
”Some of our clients asked specifically for stevia based solutions for sugar reduction in Dairy, Ice Cream and Fruit Preparation. Besides, we have good potential for Stevia Reb 97 applications in our market. Hence, with Bayn support we are going to offer products which will satisfy our customers’ needs,” says Meelis Tamme, Managing Director of Toikako Kaubandus OÜ, Estonia.
”We look forward to working with Toikako Kaubandus OÜ and surveying the markets with Bayn products and solutions, thus getting the feedback from the market. The company has their product specialty and business focus area, which made our strategy more efficient and suited to the market needs. Our goal is to sign a contract agreement with a specified market plan after the expiry of the LOI period”, says Lucy Dahlgren.
About Bayn Europe
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 total solution 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, and is listed at Nasdaq Stockholm, First North, since 2014.
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 ld@bayn.se
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 10 mars 2017 kl. 09.00 CET.
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