HUMBLE STRENGTHENS THE PRODUCT OFFER WITHIN QUALITY NUTRITION
Humble Group AB (publ) ("Humble" or the "Company") strengthens its product offering within Quality Nutrition, by investing in a beverage line for further expansion within the Quality Nutrition segment (the "Investment"). The investment will operate under Arena Nutrition ("Arena") – the commercial offering for all manufacturers within Quality Nutrition. The investment aims to complement the existing offer and enables full-scale in-house beverage production.
Humble currently produces approximately 20 million beverage cans per year with external producers. The Company intends to transfer produced volumes to Humble for internal production by investing in its own beverage line. This is expected to have a positive impact on the profitability of the isolated products while allowing Humble to expand the long-term capacity capability and ensure the internal supply needs with a more locally positioned production. Through the Investment, the Company will also be able to offer contract manufacturing to external brands.
According to the preliminary schedule, the investment will be completed and the beverage line operational in the second half of 2023. The investment does not have any material impact on Humble's balance sheet.
”We are very excited about this investment and what it will mean for our Quality Nutrition segment. By being able to offer a full range of beverage products, we can ensure internal demand, increase our control over the value chain and meet the needs of our B2B customers even better. We are convinced that this expansion will contribute to an increased attractiveness as a contract manufacturer and at the same time raise the pace of innovation and product quality for the segment." says Simon Petrén, CEO of Humble Group AB.
The goal is to strengthen the production offer for Humble's B2B customers through Arena and to deliver a complete portfolio of high-quality products across several categories within sports nutrition. Arena also enables an increased pace of innovation and assurance of product quality, which improves the conditions for continuing to be a competitive and long-term comprehensive supplier to Humble's customers and partners.
For further information, please contact:
Simon Petrén, CEO, Humble Group AB
E-mail: simon.petren@humblegroup.se
Telephone: +468 61 32 888
The information in this press release has been published by the above contact person, at the time specified by Humble Group's news distributor Cision at the time of publication of this press release.
ABOUT HUMBLE
Humble Group is a Swedish food-tech and FMCG-group, supplying the next generation of products that are good for people and the planet. Humble targets the segments of foodtech, eco, sustainability and vegan to drive high organic growth, acquisitions and utilize synergies in the different operation entities: Brands, Distribution, Manufacturing and Ingredients and R&D. Humble’s technology solutions, refined through scientific research and extensive market experience, facilitate new formulations and recipes that improve the taste and texture of the next generation of sugar-reduced, sustainable and vegan products. For more information visit www.humblegroup.se
Humble is listed on Nasdaq Stockholm, First North Growth Market, under the ticker HUMBLE. FNCA Sweden AB is Humble’s certified adviser. Tel: 08-528 00 399 E-mail: info@fnca.se