New Universal business includes sweetener for tobacco growers

Universal Corp. said yesterday that it had entered the fruit and vegetable food ingredients market through its new subsidiary, Carolina Innovative Food Ingredients (CIFI).

“The new business will utilize advanced technology to produce high-quality, food-grade dehydrated and juiced fruit and vegetable products,” Universal said in a note posted on its website. “Initially the business will focus upon value-added ingredients derived from sweet potatoes.”

CIFI expects to invest about $20 million over two years in a new juice and dehydration facility that will be located in Nash County, North Carolina, USA, and managed by the company’s North American regional management team.

The business is expected to begin production during the first quarter of 2015 and to employ about 64 people.

“Universal continues to seek out growth opportunities that enhance our company’s value and help to sustain tobacco growers,” said George C. Freeman III, chairman, president and CEO.

“With this new business, we will be able to offer high-quality food ingredients to the food and pet food manufacturing industries while providing tobacco growers with a new market for sweet potatoes. Nearly half of U.S. sweet potato production comes from North Carolina, and they are often grown in rotation with tobacco.”