GENEVA, Jan. 31, 2022 /PRNewswire/ -- Firmenich, the world's largest privately-owned fragrance and taste company, and Finlays, a leading supplier of tea, coffee and botanical solutions, have entered an agreement giving Firmenich full sales rights to Finlays' European tea and coffee extracts portfolio in Europe, effective immediately.
"We are very excited about this partnership," said Karel Stoschek, SVP, Europe of Firmenich's Taste & Beyond business. "Our customers will benefit from Firmenich and Finlays' combined expertise in product development, streamlining their own innovation and new product development process and helping to create even better products that tap into the natural, wellbeing and sustainability consumer megatrends."
As a part of this new agreement, Firmenich will focus on commercializing two core parts of Finlays' extracts business in Europe: its world-leading Cold Brew Coffee portfolio and its Tea Extract portfolio. The Cold Brew Coffee portfolio serves a rapidly growing segment within the European region, and is crafted using a proprietary process which delivers a distinctly smooth, rich flavor experience. Finlays' Tea Extract portfolio includes The Wellbeing Collection, a range of premium, all-natural tea extracts which are rich in bioactive compounds associated with various health benefits. These extracts are sustainably sourced from Finlays' own tea farms, with on-site extraction facilities that enable tea leaves to be harvested and extracted on the same day, thereby preserving their fresh flavor and natural bioactive composition.
"Firmenich and Finlays are joining forces at a time when consumer demand for healthier, natural ingredients has never been higher," said Rachel Jones, Finlays Group Head of Business Development. "Firmenich's strong market coverage, deep understanding of taste and application know-how will enable Finlays products to reach a broader audience in Europe, helping the food & beverage industry develop innovative recipes featuring tea and coffee ingredients to meet evolving customer expectations."
Under the new agreement, Firmenich is responsible for the full sales process, from commercial relationship to brief management, supported by the Finlays team. The partnership focuses exclusively on Finlays' ranges of tea and coffee extracts, and covers European markets only.
"The world of natural beverages is a dynamic hotbed of innovation and offers countless opportunities for sustainable growth," said Guy Chambers, Finlays Group Managing Director. "Our new partnership with Firmenich supports Finlays' mission of bringing the best from bush to cup and will help us to deliver distinctive and exciting solutions for customers in Europe."
"Firmenich and Finlays are both privately owned and share a similar, Purpose-driven mission of creating healthier food and beverages made from natural and sustainable ingredients", said Amaury Roquette, Firmenich VP, Naturals Platform, Creation and Portfolio. "This partnership further reinforces Firmenich's commitment to accelerate global diet transformation by helping to create healthier, great-tasting food & beverages with more natural and sustainable ingredients to enhance wellbeing for people & planet."
About Firmenich
Firmenich is the world's largest privately-owned perfume and taste company, founded in Geneva, Switzerland, in 1895 and has been family-owned for 125 years. Firmenich is a leading business-to-business company operating primarily in the fragrance and taste market, specialized in the research, creation, manufacture and sale of perfumes, flavors and ingredients. Renowned for its world-class research and creativity, as well as its leadership in sustainability, Firmenich offers its customers superior innovation in formulation, a broad and high-quality palette of ingredients, and proprietary technologies including biotechnology, encapsulation, olfactory science and taste modulation. Firmenich had an annual turnover of 4.3 billion Swiss Francs at end June 2021. More information about Firmenich is available at www.firmenich.com
About Finlays
Finlays, part of Swire Group, is a leading independent B2B supplier of tea, coffee and botanical solutions to beverage brand owners worldwide. Founded in 1750, Finlays has been sourcing tea since 1817, coffee since 1911, and is a leading pioneer in coffee and tea extraction. Today, with deep roots across the globe and unparalleled experience and expertise, no-one is better placed to unleash the potential of natural beverages by helping brand owners to bring the best from bush to cup. For more information visit www.Finlays.net
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