22 Feb 2010 07:00
PURECIRCLE LIMITED
("PureCircle" or "the Company")
Imperial Sugar Company & PureCircle Limited launch Natural Sweet Ventures, to deliver "all the sweetness of sugar, but with fewer calories, naturally"
PureCircle Limited (LSE: PURE) - Imperial Sugar Company and PureCircle Limited are pleased to announce the launch of Natural Sweet Ventures LLC ("Natural Sweet" ), a joint venture created between Imperial, one of the largest marketers of refined sugar in the NAFTA region, and PureCircle, the global leader in the production of high purity stevia products. The exclusive North American joint venture will be the first ingredients company to combine the natural benefits of both sugar and stevia to create an extensive line of reduced calorie natural sweet applications for the food and beverage industry: "All the sweetness of sugar, but with fewer calories, naturally"
Consumers looking for natural sweetness with reduced calories
Consumers continue to love sugar. Consumers trust natural sugar and the natural sweet taste it brings to their favorite products. Rightly, natural sugar is at the core of sweet ingredients in Food and Beverages. This natural sweetness is why so many companies are switching back to sugar in their products.
Natural Sweet Ventures' products provide a sugar option with additional benefits:
- Same sweetness with fewer calories
- Natural and GMO-free
- Lower glycemic index
Meeting consumer needs with proprietary innovation
Both Imperial and PureCircle have rich heritages in developing proprietary technologies tied to natural, sweet innovations. Considerable research and development, intellectual property resources and refining expertise have been combined to create a proprietary technology platform. This provides Natural Sweet customers with flexibility in developing innovative applications. Natural Sweet Ventures' product line delivers benefits of cane sugar and stevia to food and beverage manufacturers across North America, including:
- Liquid form - excellent for beverage or as a replacement for current liquid sweeteners
- Crystallised form - ideal for syrup, spray-on, dairy, many baking and confection applications that rely on sugar for product performance
- Variety of calorie reduction levels - allows formulation to specific calorie levels that best suit the application
- All products are 100 per cent natural, have reduced caloric levels, have a lower glycemic index, have no GMO, are temperature and pH stable, have uniform dispersion of both sugar and stevia
All Natural Sweet Ventures' products will carry the trusted endorsements of both Stevia by PureCircle and the Imperial Crown trademarks.
The Natural Sweet Venture
Natural Sweet Ventures is a 50:50 Joint Venture between Imperial and PureCircle. The Board of Directors and Operating management team will be drawn from the two companies.
Natural Sweet Ventures' products will be produced at Imperial's state-of-the-art Port Wentworth, Georgia, USA refinery and marketed across North America by the combined sales teams of Imperial and PureCircle.
Magomet Malsagov, CEO & President of PureCircle Limited commented:"When we were looking for a partner for the important North America market there was really only one choice. Imperial stood out above the crowd for its commitment to innovation, natural sweeteners, outstanding customer service and next generation natural sugars. We are delighted to be partnering with Imperial in Natural Sweet"
John C. Sheptor, President and CEO of Imperial Sugar said: "We are delighted to partner with PureCircle, the global leader in providing high purity stevia products. The Natural Sweet Ventures' product line is an attractive proposition for customers seeking lower calorie, natural sweetening solutions. Natural Sweet is a complement to Imperial's core sugar business and consistent with our strategy to expand value-added natural offerings for customers and enhance shareholder value. This exclusive partnership gives Natural Sweet a first mover advantage as we collaborate with customers to deliver products that meet their distinct needs."
About Imperial
Imperial Sugar Company is one of the largest refiners, processors and marketers of refined sugar in the United States to food manufacturers, retail grocers and foodservice distributors. The Company markets products nationally under the Imperial(R), Dixie Crystals(R) and Holly(R) brands. For more information about Imperial Sugar, visit www.imperialsugar.com and www.iscnewsroom.com.
About PureCircle
PureCircle is the global leader in the production and delivery of high purity stevia products. Stevia is now being grown for PureCircle in 15 countries across South America, Africa, and Asia, providing a sustainable cash crop for rural farming communities in each region. PureCircle's USA headquarters are in Oakbrook, Chicago, Illinois and the Group's global headquarters are in Kuala Lumpur, Malaysia. For more information about PureCircle, please visit www.purecircle.com
About Stevia
Stevia is a plant from the chrysanthemum family that originates from Paraguay in South America. It has been used as a natural sweetener and flavour enhancer for many centuries. In 2008 high purity (over 95 per cent) Rebaudioside A, a single molecule from the stevia plant, was granted FDA GRAS (generally regarded as safe) status for use as a sweetener ingredient in beverage and food products. On a weight basis high purity Rebaudioside A is up to 300 times sweeter than sugar, has no calories, has a low glycemic index and is heat and pH stable.
Since FDA authorization, stevia sweetened products have rapidly grown in demand within the United States. For example: Nielsen data for year end 2009 show stevia sweetened products comprised 14 per cent of the USA tabletop sweetener market.
CONTACT
Magomet Malsagov - Group CEO +60 1238 88049
William Mitchell - Group CFO +44 7974 005163
Steve Allen - NOMAD - RFC +61 4179 03115
Alan Frame -Westport Communications +44 20 7065 2690