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Whole Earth Brands (Nasdaq: FREE) will present at two upcoming virtual investor conferences in September 2020. CEO Albert Manzone and CFO Andy Rusie will participate in the Barclays Global Consumer Staples Conference on September 8 at 3:20 PM ET, with a live audio webcast available on their Investor Relations website. The Wells Fargo Virtual Consumer Conference is scheduled for September 16, focusing on meetings only, and investors are encouraged to contact Wells Fargo for details. Whole Earth Brands specializes in low and zero-sugar products and aims to expand its global portfolio.
Whole Earth Brands reported a 4.3% increase in Branded CPG product revenues to $43.1 million for Q2 2020. The company completed a significant business combination on June 25, 2020, enhancing their portfolio with Merisant and MAFCO subsidiaries. However, overall revenues decreased 3.1% to $66.8 million, primarily due to a 14.2% drop in the Flavors & Ingredients segment, adversely affected by international tobacco market challenges. The net loss stood at $6.0 million, driven by transaction bonuses. The cash balance is $61.6 million.
Whole Earth Brands (Nasdaq: FREE) announced the launch of the Canderel Chocolate line in France and the U.K., expanding its sweetener brand portfolio. This new line features chocolate bars and chocolate-coated snacks with reduced sugar, expected to be available in major retailers like Carrefour and Casino. The company has seen strong market growth, with Pure Via achieving approximately 70% market share in natural sweeteners. The changing consumer habits post-COVID have boosted demand for sweeteners, leading to increased sales and market share across Europe.