The Philippines-based company recently formed an Australian operating unit, Monde Nissin Australia, for the purpose of expanding in the country. Menora is its third acquisition in the market to date, having previously snapped up the Black Swan and Nudie brands.
“Monde Nissin aspires to be a significant foods and beverages player in the Asia Pacific region, we see Australia as a very important market that we should have a strong presence in, and Menora Foods with its marketing and distribution capability provides us with a very good strategic fit in achieving our vision,” Monde Nissin EVP Henry Soesanto explained.
“The combination of Menora’s own brands, Wattle Valley and Peckish as well as its leading agency brands, combined with Monde Nissin’s category leading Black Swan and Nudie brands, provides a solid platform within the Australian and export markets to support growth and new opportunities.”
Commenting on the sale, Sam Schachana, Menora MD, said the group expects to “build on the existing business” and “continue its current growth trajectory”. In particular, he flagged the opportunity presented by Monde Nissin’s distribution capabilities in South East Asia.
“Monde Nissin Corporation is a leading international food company with exceptional distribution reach in South East Asia. It has the resources and experience to build Menora in Australia and take its brands into new markets… Menora is experiencing strong growth and we believe that Monde Nissin is well placed to take the company through its next phase of development,” Schachana said.
The deal, which was announced yesterday (12 March), is expected to close by the end of the month. The price Monde Nissin paid for family-owned Menora was not disclosed.