UK-based ingredient supplier Cambridge Commodities Ltd has acquired the ingredient business of US wholesaler Earth Circle Organics LLC. Following the acquisition, Earth Circle Organics' raw and organic superfood ingredient business will merge with the US arm of Cambridge Commodities to create a new division, operating as Earth Circle Ingredients.
Cambridge Commodities aims to double the size of the business in the next four years through both organic growth and by acquisition. "We are aiming to have a US$50 million turnover business in the US in five years," the company said.
The founder and CEO of Earth Circle Organics, Eric Botner, will continue to operate its branded products as a separate company.
"The deal will provide Earth Circle Ingredients with access to Cambridge Commodities approved supplier base for over 2500 nutritional ingredients, its new product development expertise and its technical teams," Cambridge Commodities said in a press release.
"This will allow Earth Circle Ingredients to expand its stock holding from raw and organic superfoods to include vegan and dairy proteins, natural extracts, and fruit and vegetable powders."
Neil Hammill, commercial director of the Cambridge Commodities Group said: "We are delighted to welcome the talented team at Earth Circle into the Cambridge Commodities family. This venture brings a solid infrastructure to our business operations in the States.
"Under the Earth Circle Ingredients brand, we look forward to supplying customers with quality nutritional ingredients and healthier innovation to support well-being in the US and rest of the world."
Earth Circle Ingredients' head office will be in Northern California with warehousing facilities on the East and West coasts.
CEO at Earth Circle Ingredients Keith Bearden, who brings over 20 years' experience in food and beverage to the company, said: "Using Cambridge Commodities' approved supply chain, we are increasing our stock lines, which means that we can provide exciting ingredients, great quality and product innovation to our customers."
Cambridge Commodities has seen an increase of almost 300 percent in vegan-specific ingredient sales in the past three years and said that digestive health is becoming more important with rising consumer awareness of the microbiome and its impact on overall health.
The company is celebrating its 20th year of supplying quality nutritional ingredients to the sports nutrition, health and wellbeing, nutraceutical and animal nutrition industries in the US and Europe.
In recent years, Cambridge Commodities was recognized for its rapid European sales growth, ranking in the HSBC Sunday Times International Track 200 for the fourth consecutive year in 2018. Over this period, Cambridge Commodities has seen a 36.4 percent rise in annual turnover from US$35 million in 2014 to US$55m in 2018.