"Toikako Kaubandus OÜ is a distributor with 25 years of experience in the Estonian food market. They are currently one of Estonia's leading companies supplying ingredients to the food industry. In recent years, they have developed good cooperation with several Estonian bakery, confectionery, beverage, and dairy companies in the country.", says Lucy Dahlgren, CEO of Bayn Europe AB.
Bayn has scanned its market channels and the decision to sign this Letter of Intent with Toikako Kaubandus OÜ was based on the company's profile - their ability and capacity as a channel partner. Bayn and Toikako Kaubandus OÜ have agreed on a joint sugar reduction portfolio with NAVIA and EUREBA, with Bayn providing technical support.
"Several of our customers have requested stevia-based solutions for sugar reduction in dairy, ice cream and fruit processing. Alongside that, we also have good potential for sales of stevia as an ingredient. Together with Bayn's support, we can offer these products and meet and match our customers' needs." Says Meelis Tamme, CEO of Toikako Kaubandus OÜ.
"We look forward to working with Toikako Kaubandus OÜ and strengthening our presence and building our brands in the Estonian market. The company already has its products and business areas mapped out, which makes our strategy more efficient and market-oriented. We are looking forward to an extended cooperation agreement with a clear marketing plan after the LoI period" says Lucy Dahlgren.
About Bayn Europe:
Bayn is a knowledge-driven company that helps food producers meet market demands for a healthier world. Bayn's solutions reduce sugar in products and create new, naturally sweetened, low-calorie products. The company's natural solutions, developed through scientific research, provide innovative, healthy recipes in close collaboration with our customers in the global food industry. Bayn is listed on Nasdaq Stockholm, First North, under the ticker BAYN.
Mangold Fondkommission AB is the company's certified adviser. Telephone +46-8-5030 1550.
For more information, please contact Lucy Dahlgren, CEO, Bayn Europe AB, e-mail ld@bayn.se
This information is information that Bayn Europe AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09.00 CET on March 10, 2017.
