Eevia 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/
You can download the full press release here.