EUROPE – Leading independent B2B supplier of tea, coffee, and botanical solutions Finlays has partnered with fragrance and taste company Firmenich to expand the reach of its European tea and coffee extracts portfolio.
The agreement, which is effective immediately, will see Firmenich focus on commercializing two core parts of Finlays’ extracts business in Europe: the cold brew coffee portfolio and tea extract portfolio.
The partnership focuses exclusively on Finlays’ ranges of tea and coffee extracts in Europe and Firmenich will become responsible for the full sales process, from commercial relationship to brief management, supported by the Finlays team.
“Firmenich and Finlays are joining forces at a time when consumer demand for healthier, natural ingredients has never been higher,” said Rachel Jones, Finlays Group Head of Business Development.
“Firmenich’s strong market coverage, deep understanding of taste and application know-how will enable Finlays products to reach a broader audience in Europe, helping the food and beverage industry develop innovative recipes featuring tea and coffee ingredients to meet evolving customer expectations.”
Finlays’ Cold Brew Coffee portfolio serves a rapidly growing segment within the European region and is crafted using a proprietary process that delivers a ‘distinctly smooth, rich flavor experience.’
According to Innova Market Insights, Cold-brew is the fastest-growing beverage segment in Europe in Ready-to-Drink (RTD)/Iced Coffee.
The segment is being driven by soaring demand for more premium formats, and take-home sales for RTD iced coffee have increased by about 37.6%.
The Tea Extract portfolio, on the other hand, includes The Wellbeing Collection, a range of premium, all-natural tea extracts which are rich in bioactive compounds associated with various health benefits and are sustainably sourced from Finlay’s own tea farms in Kenya.
According to Finlay’s, these tea farms have on-site extraction facilities that enable tea leaves to be harvested and extracted on the same day, thereby preserving their fresh flavor and natural bioactive composition.
Finlay’s recently sold its Sri Lankan tea estates to Browns Investments. The deal will include the Hapugastenne Plantations (HPL) and Udapussellawa Plantations (UPL).
Finlay’s will still be represented in Sri Lanka by Finlay’s Colombo. Its tea blending and packing operation that sources teas from multiple origins including Hapugastenne and Udapussellawa via the Colombo auction.
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