Oxford Nutrascience has signed a European exclusivity supply agreement with Ocean Nutrition Canada Limited, the world's largest supplier of Omega-3 EPA/DHA ingredients to the dietary supplement and food manufacturing markets.
Under the terms of the five year agreement Ocean Nutrition Canada Limited ("ONC") will supply its MEG-3® branded Omega-3 ingredients for exclusive use across the European Union, in any of Oxford Nutrascience's confectionery chews.
In addition Oxford Nutrascience and Ocean Nutrition Canada have agreed to work closely together to cross-sell each other's products to their own customer bases. This collaboration agreement will provide Oxford Nutrascience access to many of the largest food and supplement manufacturers who use ONC's MEG-3(r) ingredient in their products. This will create a significant marketing opportunity for Oxford Nutrascience to fully exploit its chew technology.
As the world's foremost producer of Omega-3 EPA/DHA from fish oil, ONC sets global standards for product purity, quality, reliability, innovation, and service.
MEG-3® ingredients meet or exceed worldwide quality standards with some of ONC's fish oils being the first and only fish oils to achieve United States Pharmacopeia dietary supplement ingredient verification.
Ocean Nutrition Canada Limited's MEG-3® free flowing Omega-3 EPA/DHA powder has a unique molecular construction that locks in the health benefits of Omega-3 and locks out even the slightest taste of fish. The health benefits of fish oil are believed to include brain and eye development in infants and cardiovascular benefits in adults.
Omega-3 enriched foods and beverages have entered an explosive growth phase in the global retail market, according to Packaged Facts (2007), which also forecasts Omega-3 sales to be worth about $7 billion by 2011. Market researcher, Nielsen recently noted that Omega-3 products have bucked the recession to record 42 percent growth during 2009 in the US, as consumer interest in healthy eating grows.
Oxford Nutrascience's soft chew technology uses soluble fiber to enable functional ingredients such as vitamins and minerals to be added without compromising taste, texture and stability. Importantly, the technology also delivers confectionery that is high in fiber yet reduced in sugar and fat.
Oxford Nutrascience has also developed a cranberry supplement chew and both chews will be available to consumers during the second half of 2010. The products will be promoted as part of the Group's own product range and are also being made available to other over-the-counter (OTC) consumer healthcare companies seeking to use Oxford Nutrascience's confectionery technology.
Nigel Theobald, Chief Executive, Oxford Nutrascience Group Plc commented:
"Having access to the customer base of the world's largest and foremost producer of Omega-3 shows the level of trust Ocean Nutrition Canada has in our chew technology.
Being able to reach the major producers of Omega-3 products is a very significant marketing opportunity for Oxford Nutrascience."
"This is another stride forward into providing customers with healthy chews that are a delicious way to get Omega-3 with none of the fishy flavor that taking large capsules or chewing oily soft gel capsules can give."
"Together with our manufacturing partner Lamy Lutti, Oxford Nutrascience has already attracted some of the leading companies in the supplement industry having demonstrated our capability to develop and mass produce new, high quality chew supplements. We look forward to the launch of both our new chews to the food supplements market and directly to our own and Ocean Nutrition's customers later this year."
Jon Getzinger, Chief Sales and Marketing Officer at Ocean Nutrition Canada, said: "We're very pleased with this partnership, Oxford Nutrascience has a long history of developing high quality products and delivering great customer service. Their chews have great nutritional value with added vitamins and minerals and they have also taken measures to reduce sugar through their formulation"
Oxford Nutrascience has developed a high quality product that is delicious and will do very well in the market."