NutraCea, a global leader in the production and marketing of value added products derived from rice bran and BENEO-Remy, a world leader in functional food ingredients derived from rice, today announced an exclusive, co-branded sales and marketing agreement.
Under the terms of the Distribution and Cooperation Agreement entered into on September 29, 2011, NutraCea will produce stabilized rice bran (SRB) for exclusive distribution by BENEO-Remy under their "RemyLiVe" brand in over 40 countries in Europe, the Middle East and Africa (EMEA) as well as Russia, India, Australia and New Zealand. All exclusive products distributed under the arrangement will be co-branded and will carry NutraCea logos and trademarks in addition to BENEO's RemyLiVe branding.
In addition to the exclusive distribution of SRB products, NutraCea will also be working with BENEO-Remy on a non-exclusive basis to develop applications and sales for its RiSolubles, RiFiber, RiBalance and Defatted Rice Bran (DRB) products.
W. John Short, Chief Executive Officer of NutraCea, commented, "We are very pleased to announce our alliance with BENEO-Remy to expand the sales of our best-in-market stabilized rice bran products. BENEO-Remy has a 150 years history of manufacturing rice derivatives from white rice and distributes today in over 70 countries around the globe. By combining our best-of-breed technology with BENEO-Remy's global distribution capabilities we expect to achieve significant increases in sales and profitability for both companies."
Dominique Speleers, Commercial Managing Director of BENEO-Remy stated: "We are pleased to be the exclusive partner in distribution of SRB from NutraCea who are known for their bran stabilization technology that is seen as the gold standard in the industry. In addition to being hypoallergenic, gluten free and rich in anti-oxidants and phytosterols, NutraCea's stabilized rice bran also expands our product offering to a whole grain product option which is in line with an ongoing trend. We believe that our customers will benefit from this value added ingredient that meets consumers' expectations."
NutraCea is a world leader in production and marketing of value added products derived from rice bran. NutraCea holds many patents for stabilized rice bran (SRB) production technology and proprietary products derived from SRB. NutraCea's proprietary technology enables the creation of food and nutrition products to be unlocked from rice bran, normally an underutilized co-product of rice milling. NutraCea also produces rice based consumer health supplements which can be found at http://www.nutraceaonline.com. More information can be found in the Company's filings with the SEC and by visiting the NutraCea website at http://www.NutraCea.com.
BENEO-Remy is part of BENEO, which produces and markets food and feed ingredients worldwide. BENEO's functional ingredients are derived from chicory root, beet sugar, rice and wheat and offer technological as well as nutritional benefits. With its product portfolio and through a unique chain of expertise, BENEO is the ideal partner to improve nutritional value, taste and texture for more balanced and healthy food and feed products. BENEO is a 100 per cent owned subsidiary of the Südzucker Group, employs almost 900 people and has production units in Belgium, Chile, Germany and Italy: www.BENEO.com.
This release contains forward-looking statements, including statements regarding expected increases in sales and profitability resulting from the announced Agreement. These statements are made based upon current expectations that are subject to known and unknown risks and uncertainties. The Company does not undertake to update the forward-looking statements contained 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 NutraCea's filings with the Securities and Exchange Commission, including NutraCea's most recent periodic reports.