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Whole Earth Brands, Inc. (symbol: FREE) is a leading global platform offering a variety of branded products and ingredients that cater to the growing consumer demand for natural alternatives, plant-based, clean-label, and non-sugar products. Based in Chicago, Illinois, the company plays a key role in the food industry by providing high-quality, plant-based sweeteners, flavor enhancers, and other food products through its diverse portfolio of brands.
Whole Earth Brands operates in two primary segments: Branded Consumer Packaged Goods (CPG) and Flavors & Ingredients. The Branded CPG segment is the largest revenue generator, offering a wide range of sweetener formulations under popular brands such as Whole Earth, Pure Via, Wholesome, Swerve, Canderel, and Equal. These products are marketed and distributed through various channels including food retail, mass merchandising, pharmacies, and food service outlets.
In addition to sweeteners, Whole Earth Brands also produces and sells licorice products. These licorice products find applications across a multitude of industries including confectionery, food, beverage, cosmetics, pharmaceuticals, personal care, and tobacco. The company’s commitment to quality and innovation has earned it a significant presence in major markets worldwide, with key revenue streams coming from North America, Europe, Latin America, India, the Middle East, Africa, and other regions.
Recent achievements and current projects highlight Whole Earth Brands’ dedication to fostering healthier lifestyles through better food choices. The company continuously innovates and expands its product lines to meet evolving consumer preferences. With ongoing partnerships and strong financial performance, Whole Earth Brands is well-positioned to remain a significant player in the global market for natural and plant-based foods.
Whole Earth Brands (Nasdaq: FREE) has appointed Michael Franklin to its Board of Directors, effective August 25, 2022. With Franklin's addition, the Board now has eight members. Franklin is a Partner at Mariposa Capital LLC, where he focuses on value creation across various industries, including Consumer Packaged Goods (CPG). His previous experience includes roles at Viking Global Investors LP and Centerview Partners LLC. Executive Chairman Irwin D. Simon expressed enthusiasm about Franklin's future contributions to the company’s growth strategy.
Whole Earth Brands reported Q2 2022 results with 5.5% revenue growth ($133.5 million), and 8.5% growth in constant currency. Key drivers included pricing actions and volume increases, particularly in the Branded CPG segment (8.1% growth) and Flavors & Ingredients (9.9% growth). However, gross profit decreased to $37.3 million due to cost inflation, resulting in a margin drop to 27.9%. The outlook for 2022 remains unchanged, targeting $530-545 million in net product revenues and $84-87 million in adjusted EBITDA.
Whole Earth Brands (Nasdaq: FREE) announced that CEO Albert Manzone and CFO Duane Portwood will participate in a fireside chat at the Canaccord Genuity 42nd Annual Growth Conference on August 10, 2022, at 11:30 am ET. The presentation will be available via a live audio webcast on the company's Investor Relations website. An archived replay will be accessible post-event. Whole Earth Brands focuses on providing premium plant-based sweeteners and aims to meet the growing demand for healthier dietary options globally.
Swerve Expands Product Range in 2022
Swerve, a leader in zero-sugar and keto-friendly sweeteners, is launching new monk fruit and allulose products to meet rising consumer demand for sugar substitutes. With over 2 million loyal households in the U.S., Swerve has become the top-selling baking pouch. It plans to introduce various pack formats, including jars and sachets, along with blending options combining cane sugar and monk fruit. In addition, Swerve will debut Swerve-sweetened chocolate chips, catering to the 60% of consumers seeking healthier chocolate options.
Whole Earth Brands (Nasdaq: FREE) will release its second-quarter financial results for the period ending June 30, 2022, on August 9, 2022, prior to market opening. A conference call will follow at 8:30 AM Eastern Time, hosted by CEO Albert Manzone and CFO Duane Portwood. Investors can join the call by dialing (877) 704-4453, or listen to the live audio webcast available on the Investor Relations website. Whole Earth Brands specializes in premium plant-based sweeteners and flavor enhancers, serving customers globally with a diverse product portfolio.
Whole Earth Brands (Nasdaq: FREE) announced on June 17, 2022, that it has amended its credit agreement, effective June 15, 2022. The amendment involves a $50 million increase to its revolving credit facility, raising the total from $75 million to $125 million, and replaces LIBOR with SOFR as the interest rate reference. CFO Duane Portwood emphasized the enhanced financial flexibility this provides, supporting the company's growth and liquidity. The amendment was facilitated by TD Securities, with participation from Toronto-Dominion Bank, Truist Bank, and BMO Harris Bank.
Whole Earth Brands (Nasdaq: FREE), a global food company specializing in plant-based sweeteners and flavor enhancers, announced that CEO Albert Manzone and CFO Duane Portwood will speak at the Jefferies Consumer Conference. The audio webcast of their presentation will be available on the Company's Investor Relations site starting at 8:00 am ET on June 20, 2022, with an archived replay following the event. Whole Earth Brands is dedicated to providing healthier food options and has a robust distribution network across over 100 countries.
Whole Earth Brands (Nasdaq: FREE) will host a fireside chat with CEO Albert Manzone and CFO Duane Portwood at the Cowen 6th Annual Future of the Consumer Conference on May 25, 2022, at 8:00 am ET. This session focuses on sustainable growth in the consumer sector. Investors can access the live audio webcast via the Company's Investor Relations website, with an archived replay available post-event. Whole Earth Brands is dedicated to healthier lifestyles through its premium plant-based sweeteners and diverse food offerings.
Whole Earth Brands reported a 23% revenue growth in Q1 2022, driven largely by the full quarter inclusion of the Wholesome acquisition. Consolidated revenues reached $130.6 million. Adjusted EBITDA increased to $17.8 million, despite cost inflation pressures. Operating income rose to $7.1 million from a loss of $3.1 million a year prior. The company reaffirmed its 2022 guidance with net product revenues expected between $530 million and $545 million. The firm aims to mitigate inflationary pressures through pricing actions and productivity improvements.
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