RiceBran Technologies Enters into Multi-Year Supply Agreement with Hela Spice Canada Agreement expands RBT's North American Distribution Network
SCOTTSDALE, Arizona, January 16, 2014 /PRNewswire/ --
RiceBran Technologies (NASDAQ: RIBT) and (RIBTW) (the "Company" or "RBT"), a global leader in the production and marketing of value added products derived from rice bran, today announced that it has entered into a multi-year distribution and supply agreement with Hela Spice Canada Inc. to sell the Company's stabilized rice bran and rice bran derivative products in Canada.
Hela Spice Canada, a member of the Hela Gewurzwerk Herman Laue global network of companies, specializes in the design and formulation of custom blends for the meat, poultry, bakery and other sectors of the food industry. Under the terms of the multi-year Distribution and Supply Agreement, Hela Spice Canada will distribute RiceBran Technologies' RiBran family of stabilized rice bran ingredients and derivatives including RiBalance, RiSolubles and RiFiber throughout Canada.
W. John Short, CEO & President of RiceBran Technologies, commented, "We are pleased to continue to strengthen our distribution network through this new alliance with Hela Spice Canada. We believe the Canadian market will be an important driver of future sales growth for our stabilized rice bran and derivative products in the coming years. Hela is a recognized leader in the formulation and supply of ingredients to the meat, poultry, bakery and other sectors of the food industry in Canada making them a perfect partner for our expansion efforts."
Paul Hoogenboom, President of Hela Spice Canada, commented, "We are very pleased to establish this relationship with the good people at Rice Bran Technologies. The product line meets the needs of today's processors who are looking for high quality, cost effective functional products. We look forward to working with the Canadian Food Industry as they discover the benefits of stabilized rice bran and the other products produced by Rice Bran Technologies."
About RiceBran Technologies
RiceBran Technologies is a human food ingredient and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. RiceBran Technologies has proprietary and patented intellectual property that allows us to convert rice bran, one of the world's most underutilized food sources, into a number of highly nutritious human food ingredient and animal nutrition products. Our target markets are human food ingredients and animal nutrition manufacturers and retailers, as well as natural food, functional food and nutritional supplement manufacturers and retailers, both domestically and internationally. More information can be found in the Company's filings with the SEC and by visiting our website at http://www.ricebrantech.com.
This release contains forward-looking statements, including, but not limited to, statements about RiceBran Technologies' expectations regarding re-launch of the functional foods business, future growth, positioning in the market of our products and the development of multi-year strategic partnerships. These statements are made based upon current expectations that are subject to known and unknown risks and uncertainties. RiceBran Technologies does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in RiceBran Technologies' filings with the Securities and Exchange Commission, including its most recent periodic reports.
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SOURCE RiceBran Technologies