Finlays Grants Tea & Coffee Sales Rights in Europe to Firmenich
Tea is the most popular beverage in the world after water. There is nothing better than a steaming pot of tea made with loose leaf tea. But due to convenience seeking consumers, there is a market for Tea extracts and flavours as well. As Finlays had reported, The company has entered to an agreement with Firmenich giving full sales rights to Finlays’ European tea and coffee extracts portfolio in Europe, effective immediately. Under this agreement, Firmenich will focus on commercializing two core parts of Finlays’ extracts business in Europe: its world’s biggest Tea Extract portfolio and its Cold Brew Coffee portfolio.
Under the new agreement, Firmenich is responsible for the full sales process, from commercial relationship to brief management, supported by the Finlays team. The partnership focuses exclusively on Finlays’ ranges of tea and coffee extracts, and covers European markets only.
As Finlays’ claims, their Tea Extract portfolio includes The Wellbeing Collection, a range of premium, all natural tea extracts that are high in bioactive compounds associated with many health benefits and are sustainably-sourced from Finlays’ own tea farms in Kenya.
“Firmenich and Finlays are joining forces at a time when consumer demand for healthier, natural ingredients has never been higher,” said Rachel Jones, Finlays Group Head of Business Development. “Firmenich’s strong market coverage, deep understanding of taste and application know-how will enable Finlays products to reach a broader audience in Europe, helping the food and beverage industry develop innovative recipes featuring tea and coffee ingredients to meet evolving customer expectations.”
“We are very excited about this partnership,” said Karel Stoschek, VP, Europe of Firmenich’s Taste & Beyond division. “Our customers will benefit from Firmenich and Finlays’ combined expertise in product development, streamlining their own innovation and new product development process and helping to create even better products that tap into the natural, wellbeing and sustainability consumer megatrends.”
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