Univar Chosen For Distribution Of Phyt-N-Resist By Deinove
Zacks Investment Research | Nov 13, 2018 01:47AM ET
Univar Inc.’s (NYSE:UNVR) subsidiary Univar B.V. recently declared that Deinove has appointed Univar as its Phyt-N-Resist distributor in the Europe, Middle East and Africa regions. In order to integrate its promotional and commercial efforts, Deinove chose Univar based on its industry specialization and global technical expertise to serve the beauty and personal care space.
Phyt-N-Resist is a nature-based cosmetic active. It has 100% pure phytoene formulation concentrated in organic jojoba oil. A colorless carotenoid is obtained through a process of fermentation of natural sugars by the extremophilic bacterium Deinococcus geothermalis, Phytoene. It helps fight skin aging by reducing oxidative stress and accelerating skin regeneration.
The agreement will help Univar broaden its product portfolio and diversify into cosmetic actives. Univar offers solid market coverage and industry expertise to partners and suppliers around the world, with access to a large portfolio of personal care, beauty products and solutions.
Phyt-N-Resist helps expand the company’s active offerings, while complementing distribution portfolio of functional specialty ingredients.
In a year’s time, shares of Univar have lost around 25.2% compared with the industry ’s fall of 17.5%.
Univar, in its third-quarter earnings call, said that it expects foreign exchange headwinds and challenges in Canada to dampen growth in the fourth quarter. The company expects fourth-quarter adjusted EBITDA to be flat with last year’s results. The guidance also takes into account demand softness in certain markets.
For 2018, Univar anticipates adjusted EBITDA growth of high single-digit while adjusted earnings per share are projected at roughly $1.60 per share, reflecting an increase of 15.1% from the prior year.
Revenues and gross profit at Univar’s USA and EMEA segments increased year over year in the third quarter. However, sales and gross profit across Canada and Rest of World units declined year over year.
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