JAPAN/MALAYSIA: Asahi to buy Etika dairy assets
Asahi has been looking to expand in south-east Asia
Japanese food and beverage giant Asahi has struck a deal to buy a range of dairy assets in south-east Asia from Singapore-listed Etika International Holdings.
Etika said today (10 April) Asahi would pay US$328.8m for businesses in Malaysia, Singapore, Vietnam and Indonesia.
Asahi is known for its namesake beer but also operates in spirit-based beverages, soft drinks and food. Its food assets include infant nutrition unit Wakodo.
The Japanese group had been looking to expand its business in south-east Asia and gain a foothold in Malaysia's beverage market.
Asahi said condensed milk was "deeply rooted" in Malaysia's "food culture". Etika sells condensed milk under the Dairy Champ and Goodday brands.
Etika claims to be "one of the world's largest manufacturers and distributors of sweetened condensed milk" and "a leading player in the regional food and beverage market".
As well as dairy, Etika is involved in the wholesale and distribution of frozen and chilled foods. It manufactures "value-added" frozen food, bakery and confectionery products and is a marketer of sports nutrition and weight management food supplements, manufacturing of tin cans and quick-service restaurants. It has facilities in Malaysia, New Zealand, Indonesia and Vietnam.
- What US companies might Nomad Foods buy?
- Competition intensifies among UK burger chains
- Challenges for General Mills with The Good Table
- Why investors are concerned about water risk
- Greek crisis: The impact on shopper behaviour
- Mondelez CEO Rosenfeld defends moves on costs
- Just Mayo under fire from US FDA after complaint
- B&G Foods "front-runner for Green Giant"
- FrieslandCampina H1 earnings up despite flat sales
- Hearthside to buy nutrition bar maker VSI
- Management briefing: just-food’s industry outlook for 2015
- Food Flavourings & Colourings (UK) - Industry Report
- Nestle USA, Inc.: Consumer Packaged Goods - Company Profile & SWOT Analysis
- Bakery Market in Japan: Forecast, and Market Analysis 2015-2019
- Probiotic Ingredients Market by Function, Application, End Use, Ingredient, and by Region - Global Trends & Forecast to 2020