Univar Solutions Expands Distribution Agreement with Sensient® Technologies
Univar Solutions Inc. (NYSE: UNVR) announced an expanded agreement with Sensient Technologies to distribute synthetic coloring products in Mexico for food, beverage, nutraceutical, and pharmaceutical markets. This builds on existing partnerships in Canada and Europe. The agreement enhances Univar's capabilities, allowing it to provide tailored solutions to meet customer needs and support innovative product development. Sensient aims to leverage this partnership to offer best-in-class color solutions, promoting competitive advantages for manufacturers.
- Expanded distribution agreement increases product offerings in Mexico.
- Strengthening partnership enhances Univar's position in food and beverage markets.
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Agreement strengthens the Univar Solutions product portfolio for the food, beverage, nutraceutical and pharmaceutical markets.
DOWNERS GROVE, Ill., March 10, 2021 /PRNewswire/ -- Univar Solutions Inc. (NYSE: UNVR) ("Univar Solutions" or "the Company"), a global chemical and ingredient distributor and provider of value-added services, announced today an expanded agreement with Sensient Technologies to distribute its synthetic coloring products in Mexico for the food, beverage, nutraceutical and pharmaceutical markets. This announcement is part of an existing relationship that includes a current distribution agreement with Sensient in Canada and Europe.
"We're pleased that Sensient has put their trust in Univar Solutions by expanding our relationship even further. Sensient's products align with our global strategy to offer customers leading synthetic color solutions, and we look forward to now representing their color systems in Mexico," said Jorge Buckup, president of Latin America for Univar Solutions. "Synthetic color products play a key role in the manufacturing of many confectionery, bakery, and pet food items as well as pharmaceuticals and nutraceuticals. Our technical team has the expertise to efficiently and effectively support customers' complex color formulation needs through a fully equipped solution center in Mexico City with both formulation and testing capabilities."
Univar Solutions is well positioned to assist throughout the food, beverage, nutraceutical and pharmaceutical ingredient markets to provide differential value to customers through a consistent global approach across key industries and a worldwide footprint of technical solution centers and vast product portfolio. This complements Sensient's offerings as a global manufacturer of customized color solutions featuring color technology innovation that helps manufacturers and brands differentiate their products and achieve a competitive advantage.
"We are excited to build on our existing partnership with Univar Solutions, which will bring a best in class experience to our customers and help enable greater success. Sensient continues to expand its offering of synthetic color solutions in partnership with Univar Solutions for the food, beverage, nutraceutical and pharmaceutical markets. Together, we are well-positioned to provide customers the premier ingredients and service they need to develop innovative products for consumers," commented Mauricio Gómez Dávalos, director general at Sensient Food Colors Latinoamérica.
"Adding the Sensient range of synthetic colors further complements our existing ingredient range and enhances our capabilities to offer customers complete formulated solutions in key markets. We're honored to extend our partnership with Sensient and look forward to our mutual success," commented Kevin Hack, vice president of global food ingredients at Univar Solutions.
About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and North American sales force, unparalleled logistics know-how, deep market and regulatory knowledge, world-class formulation and recipe development, and leading digital tools, the Company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. Univar Solutions is committed to helping customers and suppliers innovate and grow together. Learn more at UnivarSolutions.com.
About Sensient Technologies
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages and products that serve the pharmaceutical, nutraceutical, cosmetic, and personal care industries. Sensient's customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world's best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.
Forward-Looking Statements
This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and outlook for the future, which are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding the impacts of the effects of COVID-19 on the Company, the Company's anticipated future results and financial performance, liquidity position and cash flows, actions regarding expense control and cost reductions, expected net synergies from the Nexeo acquisition, capital expenditures and other statements regarding the Company's Streamline2022 Program and other initiatives. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company's filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: general economic conditions, particularly fluctuations in industrial production and consumption and the timing and extent of economic downturns and potential recoveries the sustained geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; current and new actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our employees, customers, vendors and suppliers; and the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our indebtedness, the restrictions imposed by and costs associated with our debt instruments, and our ability to obtain additional financing; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality issues; delivery failures or potential hazards and risks related to our operations and the hazardous materials we handle, potential inability to obtain adequate insurance coverage; ongoing litigation; potential product liability claims and recalls and other environmental, legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; risks associated with integration of legacy business systems; possible impairment of goodwill and intangible assets; an inability to integrate the business and systems of the companies we acquire, including failure to realize the anticipated benefits of such acquisitions; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company's filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this press release is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek, "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.
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SOURCE Univar Solutions Inc.
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