“Major packaged goods companies put their focus on agile innovation to help fuel growth around their core brands. Agile venturing and creative innovation sprints will replace the traditional and often time-consuming ‘stage gate’ innovation funnel and are changing innovation sustainably,” Paul Graham, president, Symrise Flavor North America, said.
The partnership will provide end-to-end beverage solutions for the North American market including the ability to quickly develop shelf-ready, scalable products, according to Symrise. Customers will have access to the expertise located at three locations: the newly formed Califormulations location in Columbus, Georgia, with 100,000 sq ft for beverage development; Symrise’s regional headquarters in Teterboro, New Jersey, providing global expertise in flavor solutions, including taste for sugar reduced products; and the Symrise Beverage Center in Laguna Beach, California.
CBD focus
The Green Organic Dutchman Holdings Ltd. (TGOD), a publicly traded, global organic cannabis and CBD company, has also made a strategic investment into Califormulations to launch TGOD-branded organic hemp-based CBD beverages in the US, as local laws and regulations permit, the company stated.
"With the US market for functional beverages, including wellness, energy and sport recovery, currently worth over USD$20bn, we want to remain on the cutting edge of innovation and establish the foundation for future proprietary and novel TGOD-branded products. TGOD strives to partner with established industry leaders, and we believe that this forward-looking strategic partnership positions TGOD to capitalize on the future cannabinoid beverage market," Brian Athaide, CEO of TGOD, said.
"Collectively, the complementary capabilities of this ecosystem give Califormulations a unique position in the beverage/consumer packaged goods market that will foster innovation and scale new, successful brands quickly," added Graham.