Food company Royal Numico has announced that a general meeting of shareholders today (Friday) approved the acquisition of EAC Nutrition, an Asian baby food company.
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The acquisition was approved by 99.99% of the votes and is expected to be completed in December 2005.
The acquisition of EAC Nutrition is an important step for Numico to become market leader in Asia, the company said. The Asian infant nutrition market forms a significant and sustainable growth opportunity characterised by a very low per capita consumption, a high number of births and increasing GDP per capita, offering ample growth opportunities.
Numico’s leading position in Indonesia combined with EAC’s strong positions in China, Thailand and Malaysia provides Numico with a unique and strong platform to benefit from the long-term growth potential of the Asia Pacific market. EAC Nutrition is an excellent strategic and geographical fit with Numico’s existing business in Indonesia, Australia and New Zealand.
EAC Nutrition is a leading baby food company primarily focused on the development, manufacturing and marketing of infant nutrition products under the Dumex family of brands, which include Mamex, Mamil, Dupro and Dugro in Asia. Next to its leading market positions in China, Thailand and Malaysia, EAC Nutrition has additional presences in the Philippines and India, as well as a growing export business to other markets in Asia and – to a lesser extent – the Middle East. EAC Nutrition currently employs approx. 2,250 people including more than 475 nutrition advisors working with local health care professionals to provide education and information on baby nutrition.
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