Singapore-based Fraser and Neave has secured a licensing deal with Nestle to manufacture and distribute the Carnation, Bear Brand, Bear Brand Gold, Ideal Milk and Milkmaid products in ASEAN countries.
The licences are for a period of 11 years and seven months, with a right to extend for a term of ten years until the end of January 2037. The agreement extends the terms of the licensing deal struck in 2007 when F&N acquired Nestle’s canned, UHT and fresh dairy business in Thailand.
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F&N CEO of non-alcoholic beverages, Dato Ng Jui Sia, said: “Nestle’s Carnation and Bear brands already enjoy a strong consumer following in ASEAN. Coupled with our unrivalled on- and off-trade distribution network, we are able to realise their massive potential in this region.”
During 2015, F&N plans to invest THB300m (US$9.2m) in a new filling and packaging line at its manufacturing plant in Rojana, Thailand, to produce Carnation evaporated milk.
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