Eevia Health lands sales agreement for berry extracts with a minimum contract value of c. SEK 100 millionEevia Health Plc, ("Eevia" or "The Company"), a leading health ingredient manufacturer from Finland, today announces that it has entered a multi-year sales agreement for the US market with a key international customer.
The agreement is for the supply of a standardized berry extract. The first three years of the sales agreement provides for a minimum contracted total sales of c. SEK 100 million. Eevia considers that there is a potential for extensions after three years. The minimum contract value may vary depending on raw material price fluctuations.
The end customer is an internationally recognized brand leader in the marketplace with a global footprint. The group has sales of USD 1,2 billion in 2019 and offers over 500 premium dietary supplements, including single herbs, vitamins, minerals, and specialty formulas sold under the Company's well recognized brands, in over 60 countries.
Barrington Nutritionals Inc, headquartered in Harrison, New York, U.S., is a party to the Agreement as Eevia's distributor. Stuart Gelbard, the Founder and President of Barrington Nutritionals adds: "We are excited to enter into this agreement with our client and Eevia to formalize our already excellent cooperation. Eevia has proven to be a reliable provider of high-quality organic ingredients with a unique sustainability story. The Barrington team looks forward to working with Eevia in the years to come."
CEO Stein Ulve comments: "This sales agreement secures an important part of our sales revenues for the next few years. It confirms our ability to serve larger world class clients. Furthermore, it enables us to get a return on investments we have made in the last 18 months. It is a confirmation of the competitiveness of our green-chemistry manufacturing platform. We can compete with efficient extraction and purification technologies for polyphenols from Finland."
Eevia is headquartered in Seinäjoki, Finland. As of the end of first quarter 2021, the Company had over 30 full-time employees, up from 8 employees 12 months ago. The total revenue for the full year ended December 31st, 2020, was EUR 2.86m. Growth has accelerated in 2021 and extract sales reached EUR 1.9m in the period 1st January - 31st March, corresponding to 560 percent sales growth compared to the same period prior year. Eevia Health Plc converted to a public company in April and is preparing to list its shares at Spotlight Stock Market in Sweden on June 29th. See also: https://investor.eeviahealth.com/ipo/ For further information, please contact:
Stein Ulve, CEO, Eevia Health Plc
Email: [email protected]
Telephone: +358 400 22 5967
Kim Nurmi-Aro, CFO, Eevia Health Plc
[email protected]
+358 504 44 0717
This disclosure contains information that EEVIA HEALTH PLC is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on June 11, 2021.
The following documents can be retrieved from beQuoted
Eevia Health Pressrelease 2021-06-11.pdf INFORMATION ABOUT EEVIA HEALTH PLC
Eevia Health Plc, founded in March 2017, is a small, but fast-growing Finnish manufacturer of 100% organically certified plant extracts. The Company addresses significant health problems with bioactive compounds extracted from plant material from the pristine Finnish forests near the Arctic Circle. The extracts, which have scientifically documented health benefits, are sold B2B as ingredients to dietary supplements and food brands globally. The focus is on ingredients that protect human health prophylactically, reducing the risk of deteriorating health. The products are targeted against immune health, low-grade inflammation, eye and brain health problems and metabolic disorders. In its portfolio, Eevia Health has immune-modulating products that have effects on Th1-type cytokines, such as IFN- and TNF-α cell signaling molecules, which are very important in the immune response to pathogens (virus, bacteria).
Most of its raw materials, such as bilberry, lingonberry, chaga-mushroom, and pine bark, are wild-harvested in a sustainable fashion. The safe and effective ingredients of high quality, such as high concentrate bilberry anthocyanin extracts (36%) and pine bark extracts (70% oligomeric proanthocyanidins), are certified organic. Eevia Health operates a modern green-chemistry production facility in Finland, located close to the raw materials. The short value-chain enables an environmentally friendly carbon footprint, competitive pricing, and transparency.
The increasing health awareness among consumers, combined with the increased focus on sustainable business models, constitute a strong and significant macro-trend, from which Eevia stands well equipped to capitalize.
To learn more, please visit www.eeviahealth.com or follow Eevia Health on LinkedIn @EeviaHealth.
Information About Barrington Nutritionals
For the last 30 years, Barrington Nutritionals has made it their mission to provide the nutraceutical, pharmaceutical and functional food industries with the highest quality ingredients, backed by science. With a diverse portfolio of over 100 ingredients, Barrington continues to build relationships with the finest ingredient producers and leading innovators in the health and wellness space. These relationships create opportunities for innovations and exceptional problem-solving capabilities to meet its customers' needs.
To learn more, please visit barringtonnutritionals.com
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