2 November 2018 10:36 am
Hayleys Global Beverages (Pvt) Ltd (HGBL), a unit of diversified conglomerate Hayleys PLC yesterday announced a joint venture partnership with Germany’s botanicals giant Martin Bauer Group (BMG).
Established in 2016, HGBL is a leading manufacturer of authentic pure Ceylon tea extracts, primarily in the form of powders, concentrates, aromas and flavours.
A joint statement by Hayleys and BMG said HGBL is considered a worldwide leader in supplying high-quality botanical products to global tea, food and phytopharmaceutical industries with teas, extracts, powdes and botanical ingredients.
“We are extremely proud to announce the historic partnership between Hayleys Group and Germany’s Martin Bauer Group.Their investment serves as further validation of the immense potential that we see for Hayleys Glboal Beverages moving forward,” Hayleys Group Chairman and Chief Executive Mohan Pandithage said.
Tea powder is largely utilized in the production of ready-to-drink beverages.
The demand for tea and herbal ingredients is forecasted to grow due to the rising consumer consciousness towards personal health.
“We are very excited to announce our investment into Hayleys Global Beverages and out new role as joint venture partners together with the renowned Hayleys Group and KVPL. High quality tea ingredients are increasingly in demand for numerous applications” MBG Managing Director Albert Forstl said.
The joint statement however did not disclose the size of the investment MBG had made in HGBL.