Hain Celestial plans to launch more Asian cuisine products in markets around the world this year, the US-based group has told just-food.
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The company said today (1 June) that it has finalised plans to invest in Singapore-based natural food and beverage firm Yeo Hiap Seng (YHS).
The companies have bought US$6m worth of shares in each other, which marks a further step in their deepening relationship.
A spokesperson for Hain Celestial said both groups plan to launch a range of “co-branded products” to go on sale not just in Asia but also in markets including the US.
“The products will be in categories that either us or YHS are in now,” she told just-food. “It could be non-dairy beverages, it could be sauces but we expect the products to be out sometime this year. They will be products with an Asian accent.”
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By GlobalDataThe spokesperson refused to be drawn on whether Hain Celestial would look to further increase its stake in YHS above an agreed 5% threshold.
She said: “We’re taking it step-by-step. If things go well, we might do more but it’s premature to say.”
Hain Celestial is looking to use its relationship with YHS to expand its presence in Asia. YHS has two manufacturing sites in Malaysia and China, two markets that would be “a nice starting point”, the Hain Celestial spokesperson said.
The two companies may also explore the possibility of jointly investing in other natural and organic food companies in Asia, although the spokesperson refused to be drawn further.
