Demand for the Company's EUREBA 1:1 sugar replacement product has seen a very strong increase this spring, with a large number of new customers and record sales. The specific deal and agreement and the new record order amount to SEK 14 million in sales volume and are made possible by group-wide synergies and cooperation between three of the group's subsidiaries - Bayn Solutions (EUREBA), Pändy Foods (product recipe) and the acquired company Grahns Konfektyr (production). The company and the customer estimate the annual volume potential at about SEK 50 million after the launch of more flavors, which is expected to take place during the autumn. The company also sees great potential in multiplying sales and volume to other customers with similar projects.
"The industry need for sugar-reduced foods is huge. We have had a very intense spring with new customers and greatly increased demand for our fantastic solutions with EUREBA and NAVIA. It feels incredibly exciting that we are finally starting to get commercial impact for EUREBA and where we have several ongoing projects with major players in the food industry. In a short time after the acquisition of Grahns, we have been able to deliver a finished product solution that has proven to have great commercial potential and demand, where this customer alone means higher sales than last year's entire sales. Now we are focusing on continuing to scale our solutions in segments such as ice cream, candy and dairy, which we have already come a long way with and proven proof of concept in the commercial trade." says Mats Källqvist, CEO Bayn Solutions AB
"The integration following the acquisition of Grahns has gone very well and we can already start reaping the potential synergies of becoming part of Humble Group. It's a fast-paced team that fits well with the innovative growth culture we already have in our business. Our first project with EUREBA as an ingredient has already proven to have great potential and we will now continue to grow our business and see what products and solutions can be offered to the giant confectionery market." says Jesper Lööw, CEO Grahns Konfektyr AB
"We have had an acquisition-intensive year, where we have handpicked companies to create an effective structural synergy platform that enables us to offer the next generation of attractive FMCG products to B2B customers and end consumers. The deal demonstrates the capabilities of the companies already acquired and that will be acquired into the Group in the future. We also show that Humble Group is now fundamentally delivering and realizing the synergy opportunities that exist in linking product knowledge and innovation to achieve technological leadership in food production. Thanks to the completed acquisitions and organic growth, we also boast a leading position in sugar-reduced confectionery, where we plan to grow into more verticals in other compound foods." says Simon Petrén, CEO Humble Group AB
Humble Group is a fast-growing foodtech and FMCG group focused on the products of the future and the conscious consumer. In 2020 and 2021, the Company has grown through 12 strategic acquisitions, where synergies and product innovation are in focus. The deal is made possible by the synergies that exist through Humble Group's acquired companies Grahns Konfektyr and Pändy Foods collaborating with Bayn Solutions, the former operating company's core business. The company also has a strong international focus, scaling products and solutions internationally, where it has already established extensive distribution in 30 markets and approximately 50,000 points of sales.
For further information, please contact:
Simon Petrén, CEO, Humble Group AB
Phone: +46 70 999 94 55
E-mail: simon.petren@humblegroup.com
The information in this press release was published through the agency of the contact person set out above, at the time stated by Humble's news distributor Cision at the publication of this press release.
About Humble
Humble Group is a Swedish foodtech and FMCG group delivering the next generation of consumer products that are good for people and the planet. Humble focuses on the foodtech, eco, sustainability and vegan segments. The company is growing through organic growth, acquisitions and leveraging synergies across its business units: brands, distribution, manufacturing and ingredients. Humble's technologies, refined through scientific research and extensive market experience, facilitate new formulations and recipes that improve taste and texture for the next generation of sugar-reduced, sustainable and vegan products. For more information visit http://www.humblegroup.com
Humble is listed on Nasdaq Stockholm, First North Growth Market, under the ticker HUMBLE
FNCA Sweden AB is Humble's certified adviser. Tel: 08-528 00 399 E-mail: info@fnca.se
Forward-looking statements
This press release contains forward-looking statements that reflect Humble's intentions, beliefs or expectations regarding Humble's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which Humble operates. Forward-looking statements are statements that are not historical facts and can be identified by the use of words such as "believes", "expects", "anticipates", "intends", "estimates", "will", "may", "anticipates", "should", "could" and, in each case, the negatives thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, many of which are based on additional assumptions. Although Humble believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that they will materialize or that they are accurate. Because these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, actual results or outcomes could differ materially from those in the forward-looking statements for a variety of reasons. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this press release by the forward-looking statements. Humble does not guarantee that the assumptions underlying the forward-looking statements contained in this press release are accurate and any reader of the press release should not place undue reliance on the forward-looking statements contained in this press release. The information, opinions and forward-looking statements expressed or implied herein are made only as of the date of this press release and are subject to change. Neither Humble nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, except as required by law or Nasdaq First North. Growth Markets' Rule Book for Issuers.
