20 May 2008 - PureCircle announces the completion of the acquisition of remaining minority interest in Ganzhou Julong. PureCircle now holds 95% of the business.
Following the issuance of 2,437,330 new Pure Circle shares, pursuant to the acquisition, the total issued and paid-up capital of PureCircle now amounts to 132,723,044 shares.
The completion of this acquisition further confirms PureCircle as the largest integrated producer of high-purity Reb-A and its strong position to meet surging demand from the market. PureCircle’s long-term business model is to deal directly with end-customers and PureCircle notes with great encouragement the announcement in the United States confirming the suitability of high purity Reb-A for use as a sweetener in the food and beverage market.
This development is likely to lead to increased interest and demand for high purity Reb-A from a large number of food and beverage producers in both the US and Europe. Following sustained investment in its vertically integrated supply chain, PureCircle is well placed to exploit this interest in the market.
Commmenting on the recent developments, PureCircle Managing Director, Magomet Malsagov, said:
“Our full ownership of Ganzhou Julong, and its integration within our supply chain, reinforces our position in our market. PureCircle is uniquely placed to take advantage of recent major developments.”