Univar Solutions (UNVR) Broadens Food Ingredients Portfolio
Univar Solutions Inc. UNVR recently announced that it has been selected as the North American distributor for ICL's Rovitaris textured plant proteins. Currently, the companies have a distribution arrangement for various ICL specialty food solutions, such as phosphate and food components.
This agreement not only provides Univar with expanded product representation with a strategic supplier, but also expands the company's food offering with complementary protein items and allows it to better support meat alternative food producers. ICL and Univar are committed to enhancing sustainable food options. They are critical to the global food supply chain.
Plant-based food advances have helped fulfill new diets, food market trends and worries about shifting taste preferences, in addition to health and sustainability benefits. Food brands of all sizes look to Foodology by Univar for assistance with product development difficulties ranging from specialty ingredient creation to recipe testing. Through its food solution centers and test kitchens, the organization's expert in-house scientists update and develop formulations to improve the efficacy of goods, while working toward the company's purpose of keeping people healthy, fed, clean and safe.
Foodology by Univar's food ingredients expertise and broad portfolio give customers access to innovative ingredients for next-generation products, formulation know-how, a supply chain network, sustainable solutions and technical expertise in the dairy, beverage, bakery, meat and poultry and snacks sectors. The Rovitaris portfolio of plant-based protein ingredients from ICL provides texture, stability and flavor characteristics for a wide range of vegan food applications and consumer items, including plant-based burgers and milks.
Shares of UNVR have gained 13.1% over the past year against a 13.7% decline of its industry.
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Univar, in March 2023, agreed to be acquired by Apollo Funds in an all-cash transaction valued at around $8.1 billion. The transaction is expected to close in the second half of 2023, subject to approval by UNVR’s shareholders and regulatory clearances. The firm, on its first-quarter call, did not provide guidance due to the pending merger transaction.
Univar noted that it remains focused on delivering its business strategy and leveraging its global strengths in ingredients and specialties.
Univar Solutions Inc. Price and Consensus
Univar Solutions Inc. price-consensus-chart | Univar Solutions Inc. Quote
Zacks Rank & Key Picks
Univar currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks to consider in the basic materials space include Koppers Holdings Inc. KOP, AngloGold Ashanti Limited AU and Linde plc LIN. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Linde currently carries a Zacks Rank #2. The Zacks Consensus Estimate for LIN’s current-year earnings has been revised 3.8% upward in the past 60 days. Linde beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6.9% on average. LIN’s shares have gained roughly 7.1% in the past year.
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