Purecircle

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PureCircle Ltd
Public
Traded as LSEPURE
Industry Food and beverage
Founded 2001
Headquarters Bandar Enstek, Malaysia
Key people
Magomet Malsagov (CEO)
Products Sweeteners
Revenue $101.1 million (2014)
Website http://www.purecircle.com

PureCircle Ltd is the leading producer of high-purity stevia ingredients to the global food and beverage industry. PureCircle has offices around the world with the global headquarters in Kuala Lumpur, Malaysia.[1] PureCircle's shares are listed on the Main Market of the London Stock Exchange and trade under the ticker symbol PURE.[1]  

History[edit]

PureCircle was founded in 2002 and incorporated into PureCircle Ltd. in 2007. From its inception the company has created and continues to operate a vertically integrated supply chain for high-purity stevia from crop cultivation through extraction, production and final product distribution.[2]

On December 2007, PureCircle made an initial public offering on the Alternative Investment Market (AIM) of the London Stock Exchange to raise US$50M to fund expansion.[3]

Overall PureCircle invested more than $300 million and is leading the industry with the development of a sustainable, vertically integrated supply chain operating in four continents. Across these regions, PureCircle grows stevia plants, and extracts and refines the stevia extract, which translate into a broad range of ingredient solutions for food and beverage manufacturers worldwide.

Throughout its history, the company has worked with various regulatory bodies in different countries to obtain approval for the use of stevia-based sweeteners in foods and beverages. India is the most recent country to lend its approval.[3][4][5]

In 2010, the company launched the Global Stevia Institute, an organization that provides science-based information about stevia, serving as an educational resource for health professionals, manufacturers and the general public.

Operations[edit]

PureCircle is a leading international producer and marketer of specialty natural ingredients based on high-purity stevia.[6] The company oversees production of stevia in Asia, Africa and the Americas and works with producers to promote the use of sustainable practices at each step of the production and distribution process.[7] PureCircle operates a vertically integrated supply chain, managing its resources from the plant through harvesting, processing and formulation. This focus enables PureCircle to integrate sustainability[8] directly into its business model.

In 2012, PureCircle announced a joint development agreement with the Coca-Cola Co. to investigate new forms of stevia and to provide stevia for future beverage products.[9]

In 2013, the company said it would be providing a new high-purity Rebaudioside sweetener (Reb M) for the production of Coca-Cola Life in the United Kingdom, United States and other countries starting in 2014.[10][11] In 2015, the company secured a significant regulatory approval with the European Food Safety Authority, concluding Reb M is safe for use as a sweetener in the European Union.[12]

In 2015, the company secured a Premium Listing on the London Stock Exchange Main Market with shares commencing trade on October 28, 2015.

PureCircle has a commercial presence on five continents, including North America, Latin America, Europe, Asia and Africa and five in-market applications laboratories on four continents.

Offices[edit]

Corporate Head Office

  • PureCircle Limited, Kuala Lumpur, Malaysia

Other offices located in:

  • Argentina
  • Australia
  • Brazil
  • China
  • Columbia
  • Denmark
  • France
  • India
  • Italy
  • Mexico
  • Paraguay
  • Russia
  • Turkey
  • United Kingdom
  • United States

Products[edit]

As of 2016, PureCircle has more than 17 proprietary stevia ingredient products designated for use in food or beverage formulations. These stevia ingredients are categorized into product families, including SG95, Reb A, Alpha, Delta and Zeta (which have the  most sugar-like taste)[1], and Matrix Solutions.

Financials[edit]

  • 2015: FY15 sales increased 26% to US$127M
  • 2014: FY14 sales increased 44% to US$101M
  • 2013: FY13 US$70.2M in sales
  • 2012: US$44.5M
  • 2009-2011: PureCircle was operating with capital raised by investors “initial” or “take or pay” contract years

Officers[edit]

Magomet Malsagov, founder and CEO

Board of Directors[edit]

Paul Selway-Swift, Non-Executive Chairman

Rakesh Sinha, Chief Financial Officer

Peter Lai Hock Meng, Non-Executive Director

Olivier Maes, Non-Executive Director (retired 1 March 2016)

Christopher Pratt, Senior Independent Non-Executive Director

Guy Wollaert, Non-Executive Director

Mitch Adamek, Non-Executive Director

John Gibney, Non-Executive Director (appointed with effect from 11 April 2016)

Recognition and Awards[edit]

PureCircle’s achievements have been recognized by the readers of the Financial Times Investors Chronicle who in 2009 voted PureCircle as AIM International Company of the Year.[13] In 2014, PureCircle received the World Dairy Innovation Award for Best Environmental Sustainability Initiative at the 8th World Dairy Congress.[14][15] PureCircle won the 2014 "Sustainability Commercialized"[16] Award from Ethical Corporation, a global publication dedicated to corporate social responsibility. PureCircle has also been nominated as a finalist for its sustainability effort at Food Ingredients Europe (FiE) 2013[17] sustainability and World Beverage Innovation awards 2014.[18]

References[edit]

  1. ^ a b c "PureCircle could be sweet for investors". Proactiveinvestors UK. Retrieved 2017-03-14. 
  2. ^ PureCircle plans flotation to fund Reb-A sweetener supply. Foodnavigator, Nov. 13, 2007. Retrieved February 4, 2016.
  3. ^ a b Stevia potential bigger than we thought. Foodnavigator, Oct. 25, 2008. Retrieved February 4, 2016
  4. ^ Sweetener Stevia clears FSSAI hurdle. Business Standard, November 24, 2015. Retrieved February 4, 2016.
  5. ^ A New Presidential Decree in Brazil Opens Doors for More Reduced Sugar Beverages. Global Stevia Institute, January 25, 2016. Accessed February 5, 2016.
  6. ^ London Stock Exchange retrieved 07-03-2014.
  7. ^ "PureCircle reduces carbon footprint intensity 15%" 05-09-2014 retrieved 07-07-2014
  8. ^ PureCircle Celebrates Stevia’s Sustainability This Earth Day. Malaysian Tribune, April 22, 2015. Accessed August 25, 2016
  9. ^ "Stevia set to be a 'mass volume, mainstream ingredient', says PureCircle after striking deal with Coca-Cola" 09-28-2012 retrieved 07-01-2014
  10. ^ "PureCircle and Coke get OK from FDA for Reb M stevia" 01-03-2014 retrieved 07-06-2014
  11. ^ "Stevia-Sweetened Coca-Cola Life To Be Launched In The U.S." 06-18-2014 retrieved 07-08-2014
  12. ^ PureCircle: Reb M Approval Milestone Achieve in Europe, The Wall Street Journal, December 18, 2015. Retrieved February 3, 2016.
  13. ^ FT and Investors Chronicle AIM Awards Categories for best AIM companies
  14. ^ "PureCircle Wins Prestigious Sustainability Award During Global Dairy Congress". Purecircle. Retrieved 12 July 2015. 
  15. ^ "PureCircle wins World Dairy Innovation Award for Best Environmental Sustainability Initiative". nutraceuticalbusinessreview.com. Retrieved 12 July 2015. 
  16. ^ "Press release: The 5th Annual Responsible Business Awards 2014 Winners Announced - Ethical Corporation". ethicalcorp.com. Retrieved 12 July 2015. 
  17. ^ "PureCircle Wins Respected Sustainability Award". Yahoo Finance. 9 October 2014. Retrieved 12 July 2015. 
  18. ^ "PureCircle Honored As Finalist At The World Beverage Innovation Awards For Sustainability Efforts". Purecircle. Retrieved 12 July 2015. 

External links[edit]