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Univar (UNVR) Enters Into Expanded Agreement With EverGrain

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Univar Solutions Inc. (UNVR - Free Report) recently announced an agreement with EverGrain. The terms of the agreement name Univar as the exclusive distributor for EverGrain’s portfolio of plant-based protein and fiber ingredients in Latin America. The agreement marks an extension of the company’s successful partnership with EverGrain.

The portfolio of EverGrain will help Univar expand its range of plant-based food and nutraceutical products across Latin America. Moreover, it will enable the company to cater to the increasing demand and emerging market trends in sustainable food supplies as well as plant-based offerings.

The agreement includes a number of products like EverPro, EverVita Pro and EverVita Fiber which have varied applications in beverages, bread, cakes, tortillas and pasta.

EverGrain manufactures nutritious and functional ingredients for food and beverage products. The agreement with Univar enables it to widen the reach of its plant-based ingredients to Latin America and other regions globally. As partners, the companies can offer sustainable, nutritious, and functional protein and fiber-rich ingredient solutions to more consumers.

Univar’s technical team is fully equipped to support EverGrain’s products and customers’ formulation needs and looks forward to meet the demands of its food and beverage customers for plant-based ingredients in Latin America.

Shares of Univar have declined 6.2% in the past year compared with 21.2% rise of the industry.

Univar is expected to benefit from market expansion and strategic acquisitions. The company is also focused on expense management and productivity actions. It also has a strong liquidity position. The company expects adjusted EBITDA in the range of $140-$145 million for the fourth quarter of 2020. Univar projects adjusted EBITDA in the band of $629-$634 million for 2020.

Univar Inc. Price and Consensus

 

Univar Inc. Price and Consensus

Univar Inc. price-consensus-chart | Univar Inc. Quote

 

Zacks Rank & Key Picks

Univar currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Fortescue Metals Group Limited (FSUGY - Free Report) , BHP Group (BHP - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .

Fortescue has a projected earnings growth rate of 74.2% for the current fiscal. The company’s shares have surged around 145.8% in a year. It currently sports a Zacks Rank #1(Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

BHP has an expected earnings growth rate of 59.5% for the current fiscal. The company’s shares have gained around 32.8% in the past year. It currently flaunts a Zacks Rank #1.

Impala has an expected earnings growth rate of 189.4% for the current fiscal. The company’s shares have rallied around 51.3% in the past year. It currently sports a Zacks Rank #1.

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