Australian food group Beston Global Food Company (BFC) has entered into a 50-50 joint venture agreement with Singapore-based MindChamps Holdings to supply “fresh and nutritious food” to children at early childcare centres in Singapore and the Philippines.
The venture, Beston MindChamps Kids Nutrition, will supply MindChamps 35 childcare centres. MindChamps currently provides 6,000 meals a day to children in its childcare centres.
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Dr Roger Sexton, the chairman of BFC, said the Kids Nutrition venture is consistent with the company’s long-term focus on building “strategic value” by taking a “whole-of-life perspective” in relation to the healthy eating needs of populations.
“The programme, along with a number of the foods for MindChamps, have been designed by our in-house dietician and the food technicians in our various BFC operating businesses,” he said. “The foods are produced from carefully selected and evaluated ingredients after taking into account a range of nutritional and other factors such as artificial food preservatives, sustainability of seafood, animal welfare, antibiotics in meat and pesticides in vegetables.”
MindChamps was founded as a learning centre in Australia in 1998 and established its Pre-Schools in Singapore in 2002.
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MindChamps founder, chairman and CEO David Chiem said: “I have also always believed that a healthy mind means a healthy body; good health is such an important aspect of learning, which is why I am very excited that MindChamps is partnering with Dr Sexton and the team at Beston Global Food Company. We will be distributing many of their existing food and beverage products and jointly creating new healthy nutrition products to bring to the world. Food for children that is not only nutritious but the fact that we educate children on healthy eating really highlights the synergy between us.”
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By GlobalDataWhile the initial focus Kids Nutrition will be on the MindChamps Centres in Singapore and Manila, the capital of the Philippines, the intention is to roll out the initiative to other countries as MindChamps continues to expand across Asia and into the Middle East.
Sales achieved through the Kids Nutrition joint venture are expected to flow through to BFC in the second half of its 2016-17 financial year, the company said in a regulatory filing. BFC did not provide further guidance on the expected financial impact of the deal.
