- Distribution agreement signed with Tovani Benzaquen Ingredients to jointly develop the Brazilian business
- Minimum revenues of CHF 1.5 million expected from the partnership
Evolva, a pioneer in the field of natural molecules and industrial biotech, today announced the signing of a distribution agreement with Tovani Benzaquen Ingredients (“Tovani”; tovani.com.br) to jointly develop the Brazilian business for Veri-teTM Resveratrol.
The agreement provides Evolva with access to an attractive segment of the Brazilian market for dietary supplements. Revenues are expected to exceed a minimum of CHF 1.5 million over the next 2.5 years from this partnership. Evolva’s Veri-teTM Resveratrol is approved for sale in dietary supplements in Brazil by the Brazilian regulator ANVISA (Agência Nacional de Vigilância Sanitária) and the signing of this distribution agreement with Tovani now allows Evolva to capitalize on the market potential.
Elzo Benzaquen, CEO of Tovani, comments: “As a leading player in this relevant market segment for Veri-teTM Resveratrol in Brazil, Tovani is keen to develop this business together with our partner Evolva. The trend towards healthier and more conscious lifestyles strongly supports functional ingredients based on nature such as Evolva’s Resveratrol. We are excited to offer the differentiating benefits of Veri-teTM Resveratrol, which have been demonstrated in clinical trials such as the reputed RESHAW Study, to our customers.”
Christian Wichert, CEO of Evolva, adds: “The distribution agreement with Tovani marks an important milestone for our company. It opens-up the Brazilian market for our Veri-teTM Resveratrol offering. Veri-teTM Resveratrol is today the main pillar of our Health Ingredients business and a key contributor to our initiatives to significantly boost future growth. Today’s agreement further underlines the positive market momentum for Evolva.”
Innovations in Food (& Beverage) Technology is a quarterly magazine distributed globally both in Print and Digital formats. www.innovationsfood.com. Twitter: @Innovfoodtech. Instagram: @innovationsinfoodtechnology. Linkedin: www.linkedin.com/in/terry-prior52
