Martek and WhiteWave sign supply agreement
October 09, 2006
by FoodBusinessNews.net Staff
COLUMBIA, MD. — Martek Biosciences Corp., a producer of DHA omega-3 fatty acid, has signed a long-term license and supply agreement with WhiteWave Foods Co. Under the terms of the 15-year agreement, WhiteWave will develop soy beverages containing Martek’s flagship product, life’sDHA, a sustainable vegetarian source of DHA omega-3.
The initial launch of these beverages is expected to occur in 2007, and all such products containing life’sDHA will display life’sDHA’s logo on the product packaging and in related marketing, advertising and promotional materials. The agreement calls for no minimum purchase requirements or other financial commitments to Martek.
"Martek finds it rewarding to partner with a leading consumer packaged goods company such as WhiteWave that recognizes the value and benefits of Martek’s life’sDHA," said Steve Dubin, chief executive officer of Martek Biosciences. "I believe that Martek’s agreement with WhiteWave is another step forward toward the widespread use of Martek’s life’sDHA in a variety of food and beverage products."