DOWNERS GROVE, Ill., and INDIANAPOLIS, Ind., June 15, 2020 /PRNewswire/ -- Univar Solutions Inc. (NYSE: UNVR) ("Univar Solutions" or "the Company"), a global chemical and ingredient distributor and provider of value-added services, and Biosynthetic® Technologies, a global manufacturer of sustainable and biobased raw materials, announced today a new distribution agreement to extend Biosynthetic Technologies' footprint in the beauty and personal care market across the United States. Under the terms of the agreement, Univar Solutions will market, sell, warehouse, and support Biosynthetic® Technologies full BioEstolide™ product line to meet the demand for biobased personal care ingredients. BioEstolide™ products are bio-based oils with emollient performance features, and are from a natural, non-GMO source.
"We are incredibly excited about this recent agreement with Univar Solutions, as our organizations are aligned in our goals and values. We look forward to providing customers in the United States with our BioEstolide™ product line, leveraging the excellent reputation of our new partner, Univar Solutions," said Jakob Bredsguard, president of Biosynthetic® Technologies Food, Drugs and Personal Care Division. "We are pleased to announce our entrance into the personal care market space with our BioEstolide™ products. These new, bio-based esters are manufactured in a facility that runs on sustainable energy. As a biobased alternative to existing petroleum-derived raw materials, we foresee them having a significant impact on the personal care marketplace."
Biosynthetic® Technologies understands the importance of sustainable manufacturing practices and is constantly looking for ways to help minimize the negative impacts on the environment, while conserving energy and natural resources. Sustainability and the responsible use of natural resources in daily business is a point of focus, with the goal of generating environmental benefits and ultimately a negative carbon footprint.
"Univar Solutions is delighted to have reached an agreement to partner with Biosynthetic Technologies and distribute its BioEstolide product line," said Kelly Gilroy, vice president of beauty and personal care, globally for Univar Solutions. "With our experience in the clean and natural beauty space, and our high levels of service and flexibility, we believe this will be a successful partnership and we look forward to working together to achieve innovative growth."
Univar Solutions comprehensive beauty and personal care portfolio and international network of suppliers helps provide a complete, global perspective on product, customer, and formulation trends.
"This agreement increases the availability of our BioEstolide product line in the U.S.A. and is essential to Biosynthetic Technologies," said Dr. Matt Kriech, COO at Biosynthetic® Technologies. "We are committed to delivering high quality, sustainable ingredients for the personal care market. As we expand our global footprint, we endeavor to partner with companies that will help us to meet the needs of our environmentally aware customers. Univar Solutions is indeed our partner of choice for the personal care market in the United States. Their extensive expertise in this industry will help enable us to canvas the market on a grander scale."
About Biosynthetic® Technologies Biosynthetic® Technologies manufactures a revolutionary new class of natural personal care ingredients called BioEstolide™ that are made from fatty acids found in castor oil. These renewable and biodegradable oils deliver benefits as an emollient with enhanced oxidative stability. Biosynthetic Technologies strives to make their mark on the world by helping deliver innovations for a sustainable future. For more information about Biosynthetic™ Technologies, please visit www.biosynthetic.com.
About Univar Solutions Univar Solutions (NYSE: UNVR) is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and North American sales force, unparalleled logistics know-how, deep market and regulatory knowledge, world-class formulation and recipe development, and leading digital tools the company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. Univar Solutions is committed to helping customers and suppliers innovate and grow together. Learn more at www.univarsolutions.com.
Forward-Looking Statements This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and predictions for the future, which are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company's filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: the ultimate geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our customers and suppliers; the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; other fluctuations in general economic conditions, particularly in industrial production and the demands of our customers; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our levels of indebtedness, the restrictions imposed by our debt instruments, and our ability to obtain additional financing when needed; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; an inability to integrate the business and systems of companies we acquire, including of Nexeo Solutions, Inc., or to realize the anticipated benefits of such acquisitions; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality and liability issues and recalls; major or systemic delivery failures involving our distribution network or the products we carry; operational risks for which we may not be adequately insured; ongoing litigation and other legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; potential impairment of goodwill; liabilities associated with acquisitions, ventures and strategic investments; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company's filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this press release is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek, "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.