Australia’s Beston Global Food Co (BFC) has received a “proposal” from Taekyung Food & Processing (‘TFP’), a wholly-owned subsidiary of South Korean company Nongshim Group.
BFC said it has been approached by Taekyung in relation to “forming a strategic alliance” to supply the Australian company’s products into the South Korean market. “The proposal is general in nature and does not set out any specific arrangements at this point,” BFC said.
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“BFC will consider the proposal and have further discussions with TFP as part of BFC’s strategy to broaden its distribution networks in global food markets.”
BFC has been expanding in Asian markets through tie-ups with local firms. In June, the group entered into a strategic partnership with JM WOWO, a Chinese catering and foodservice e-commerce platform. In April BFC said it would team up with Chinese meat processor business Hondo Agricultural Co. to market allergen-free, ready-to-eat meals in the country.
