Merisant seeks bankruptcy protection
This article was originally published in The Tan Sheet
The maker of stevia-based sweetener PureVia reports Jan. 12 that the "recent turmoil in the financial and credit markets has made it impossible" to refinance its debt, thus necessitating its filing for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. Chicago-based Merisant, which also markets sugar substitute Equal, adds it has secured $20 million in debtor-in-possession financing and will continue normal operations, including advancing "plans to introduce natural sweeteners in other markets," according to CEO Paul Block. Merisant subsidiary Whole Earth Sweetener launched PureVia in December with PepsiCo, which is formulating beverages with the sweetener (1"The Tan Sheet" Dec. 22, 2008, p. 8)
You may also be interested in...
Stevia-based sweeteners are enjoying a coming out party with FDA giving the go-ahead to Cargill's Truvia and Merisant's PureVia
Business development leaders and venture capital investors spoke at Biocom’s annual partnering conference about what they are seeking in relationships with entrepreneurs and start-ups.
Mylan’s full year 2019 earnings report was its last as an independent company, so the focus was on the coming merger with Pfizer’s Upjohn and growth prospects for the new company, Viatris.