Nov 02, Colombo: Iconic Sri Lankan multinational Hayleys PLC and Germany's botanicals giant Martin Bauer Group (MBG) announce a historic joint venture partnership in Hayleys Global Beverages (Pvt) Ltd (HGBL).
Established in 20I6, HGBL stands among Sri Lanka's most sophisticated manufacturers of authentic Pure Ceylon Tea extracts - primarily in the form of powders, concentrates aromas and flavors.
MBG is considered a worldwide leader in high-quality botanical products to supply the global tea, food and phytopharmaceutical industries with teas, extracts, powders and botanical ingredients
The demand for tea and herbal ingredients is forecasted to grow due to the rising consumer consciousness towards personal health. The partners specifically see tea extracts holding the potential to capture a significant proportion of market share in the production of functional foods.
"We are extremely proud to announce the historic partnership between the Hayleys Group and Germany's Martin Bauer Group; one of the world's most respected and successful players in the international botanicals market. Their investment serves as further validation of the immense potential that we see for Hayleys Global Beverages moving forward. More importantly, a joint venture with such a prestigious and respected global leader as the Martin Bauer Group also presents unprecedented business opportunity. As a Group, we are always careful to choose partners that will add value in terms of knowledge, expertise, while aligning with our values on social, environmental and ethical responsibility. That is why we are confident that this partnership will generate immense value for all stakeholders and we look forward to working in close collaboration with MBG to achieve our shared vision," Hayleys PLC Chairman and Chief Executive, Mohan Pandithage stated.
Rising demand for such products worldwide is expected to drive the growth. While tea powders largely utilized in the production of ready-to-drink beverages, the unique nutritional qualities of authentic black tea extracts make it an increasingly popular alternative in a range of ether drinks including sports drinks aiming for a lower concentration of sugar.
"We are very excited to announce our investment into Hayleys Global Beverages and our new role as joint venture partners together with the renowned Hayleys Group and KVPL. High quality tea ingredients are increasingly demanded for numerous applications. Given the superior reputation of Pure Ceylon Tea and the fact that our green leaf is directly, sustainably and responsibly sourced, with the majority from Hayleys' own estates, we are able to create a product of the highest quality. We therefore look forward to a fruitful and long-lasting partnership," Albert Ferstl. Managing Director of MBG said.