Whole Earth Brands, Inc. Announces New Product Offerings in Europe and Provides Update on Anticipated Growth
Launching into a new category building upon Canderel and Pure Via’s sweeteners brand leadership and awareness
Record growth and market share gains in France and U.K.
CHICAGO, July 16, 2020 (GLOBE NEWSWIRE) -- Whole Earth Brands, Inc. (Nasdaq: FREE), today announced that Canderel, the iconic brand in France and the U.K., is building upon its 40 years of leadership in the sweetener category with the launch of Canderel Chocolate line expected to hit the shelves of French grocery stores and in the U.K. through impulse and e-commerce channels this month.
Canderel’s unique chocolate recipes are made with a touch of stevia and ensure a great taste and strong sugar reduction versus comparable products. The new product line features dark chocolate, milk chocolate and crispy almonds bars, as well as chocolate-coated peanuts in individual serving sizes perfect for snacking as well as the pure indulgent moment. The Canderel Chocolate line is expected to be distributed in France at leading retailers including Carrefour, Casino, and Leclerc, representing what could result in more than 50% of potential weighted distribution.
This launch succeeds the successful launch of the Pure Via Jam line in mid-2019, which has been well received by the market and continues to grow at a promising rate. Pure Via is the undisputed leader of natural sweeteners in the country which has grown to approximately 70% of market share in the natural segment year to date, according to Nielsen data.
Pure Via Jams with 65% fruit and 60% sugar reduction enjoy the highest fruit percentage and sugar reduction in the category. The unique blend with a touch of stevia ensures great taste and enables Pure Via Jams to be the only jam with a strong Nutriscore rating being recommended across all food & beverage products across Europe by EU authorities. Pure Via Jams feature the four top selling fruits with a B Nutriscore, and two organic flavors.
In addition, Pure Via has become one of the fastest growing natural sweetener brands in the U.K. following its launch in the country in mid-2019, contributing to CPG branded reaching 31% market share recently, according to Nielsen data.
“After a successful 2019 for Canderel and Pure Via with strong growth in market share and sales in France, our second largest market after the US, we see a strong acceleration of consumption linked to the change in consumer habits. After the end of recent quarantine, and despite reopening of restaurants and bars, sweeteners growth continues as consumers appear to be maintaining the habit of cooking and preparing more food at home with family. According to publicly available data, market penetration of Pure Via has improved significantly during the past three months and Canderel appear to have garnered a substantial number of additional consumers during the same period. These new consumers are likely to continue to buy our brands and we are confident in our continued growth,” commented Armand Baudry, Region Head of Western Europe CPG Branded.
As a result of these successes, Merisant sales are growing in substantially all markets in Europe. Additionally, both brands are increasing sales and market share.
“As the undisputed category leader in France, U.K, Belgium and Ireland, our aim is to grow the category and bring innovation and support to our key business partners, successfully driving category growth and trade revenue. We are very confident that current changes brought by Covid-19 will accelerate the secular trend of sugar reduction. Consumers in mature markets are looking for healthier products, they are preparing more meals themselves paying a lot of attention to the ingredients they use, particularly avoiding sugar. This creates a strong basis for growth and we will further extend our portfolio and investment to capitalize on this opportunity,” commented Albert Manzone, Chief Executive Officer of Whole Earth Brands.
ABOUT WHOLE EARTH BRANDS
Whole Earth Brands, Inc., formerly known as Act II Global Acquisition Corp., is a one of the world’s leading manufacturers of zero and low calorie sweeteners, that includes Whole Earth®, Pure Via®, Equal®, and Canderel® brands. The company has a vision to expand this branded portfolio through investment opportunities in the alternatives and clean label categories across the global consumer product industry in the quest to “Open a World of Goodness™” to consumers and their families. For more information, please visit www.WholeEarthBrands.com.
Jeff Sonnek, ICR
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements, such as projected financial information, may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “will,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, including our ability to execute our organic and inorganic growth plan. Such forward-looking statements include statements about our beliefs and expectations contained herein. Such forward-looking statements with respect to strategies, prospects and other aspects of the business of Whole Earth Brands are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those expressed or implied by such forward-looking statements.
These factors include, but are not limited to, changes in the business environment in which we operate, including general financial, economic, regulatory and political conditions; changes in consumer preferences; the availability of or competition for other brands, assets or other opportunities for investment by us or to expand our business; and other risks and uncertainties indicated from time to time in documents filed (or furnished) or to be filed (or furnished) with the Securities and Exchange Commission by us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Whole Earth Brands undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Released July 16, 2020