Under the terms of the agreement, Wild is granted the non-exclusive worldwide right as a distributor to market and resell all stevia products manufactured by Sunwin and use of all trademarks. In conjunction with the agreement, Wild also acquires an additional 7.67 million shares in exchange for its stake in Sunwin USA and granting Sunwin exclusive ownership of certain flavor formulations for use with Sunwin’s stevia extracts developed by WILD. In light of the new distribution agreement, both parties have agreed to terminate the previous distribution agreement between Wild Flavors Inc. and Sunwin USA.
Commenting on the announcement, Dongdong Lin, CEO of Sunwin Stevia International, stated, “We are excited to further our relationship with Wild through this new distribution agreement and through the increase of their equity stake in our company. Wild is one of the largest, privately-owned ingredient manufacturers in the food and beverage industry worldwide and we look forward to working more closely with them to capitalize on the growing market trends for healthier, low calorie and all natural food products. We look forward to supporting their global distribution efforts as we grow our company for the future.”
Michael Ponder, CEO of Wild Flavors GmbH, expressed,”Wild and Sunwin have worked diligently over the past several years to utilize the plant science and stevia expertise of Sunwin to enhance Wild’s sweetening capabilities and solutions. The agreement allows us to expand the technological advancements for stevia formulations and systems globally through our extensive worldwide R&D and sales teams.”