Univar Becomes Exclusive Distributor of Tata’s Digestive Health Products in Eastern, Central U.S.
Global specialty chemical and ingredient distributor Univar Solutions (UNVR) has expanded its distribution agreement with Tata Chemicals. Building on its existing distribution relationships in Canada, Univar will now exclusively distribute Tata’s prebiotic dietary fiber products (FOSSENCE and GOSSENCE) in the Eastern and Central U.S.
Tata manufactures these products using its proprietary fermentation technology. Tata’s NQ brand of products helps promote a healthy microbiome and offers assistance in sugar reduction. These ingredients offer diverse uses as dietary supplements, functional foods, nutraceuticals, confectionaries, pet food, and other nutritional offerings.
Univar Senior Vice President of Consumer Solutions, Matthew Ottaway, said, “We are thrilled to expand our relationship with Tata Chemicals to provide exclusive access to their digestive health and functional ingredients for the fast-growing food and nutraceutical industries.” (See Univar Solutions stock chart on TipRanks)
Recently, Wells Fargo analyst Michael McGinn reiterated a Hold rating on the stock and increased the price target to $27 (5.4% upside potential) from $19 after the company reported robust Q1 performance and raised guidance. McGinn highlighted higher chemical prices and increased 2021 EBITDA guidance of $50 million at the midpoint.
Based on 2 Buys and 2 Holds, consensus on the Street is a Moderate Buy. The average Univar Solutions analyst price target of $29 implies 13.2% upside potential. Shares have gained 52% over the past year.
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