CEO Morning Brief

F&N Seals Exclusive Rights for Nestlé's Bear Brand Sterilised Milk in Cambodia

Publish date: Wed, 15 Mar 2023, 08:46 AM
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TheEdge CEO Morning Brief
F&N seals exclusive rights for Nestlé's Bear Brand sterilised milk in Cambodia

KUALA LUMPUR (March 14): Fraser & Neave Holdings Bhd (F&N) has secured extended rights from Societe Des Produits Nestlé SA and Nestec SA (Nestlé) as the exclusive manufacturer and distributor of Nestlé’s Bear Brand sterilised milk in Cambodia.

In a statement on Tuesday (March 14), F&N said the group would now manufacture as well as distribute and market the milk products directly to end consumers in Cambodia, effective March 1, 2023 until 2037.

“This contract expansion is part of licence agreements originally granted by Nestlé in 2007 and subsequently renewed in 2015,” it said, adding that the deal further boosted its presence in the Indo-China market.

F&N said that it currently manufactures and distributes the Bear Brand sterilised milk and Bear Brand Gold milk for Thailand and Laos.

“In addition, the group manufactures, promotes, and distributes the Carnation brand in Thailand, Laos and Cambodia, as well as sells Carnation canned milk, ideal evaporated milk, and Milkmaid sweetened condensed milk and sweetened beverage creamer in Malaysia, Brunei and Singapore until 2037,” it said.

F&N chief executive officer Lim Yew Hoe said the expanded term indicated the confidence Nestlé has in F&N and a strategic partnership that would allow both companies to generate synergistic values by leveraging each other’s strengths in this region.

“Together with our newly completed milk and plant-based beverage factory in Wang Muang, Thailand, F&N intends to play a much bigger role in the liquid milk segment.

“We are confident that our expertise in the market and commitment to innovation would spur greater growth in this segment,” he said.

Source: TheEdge - 15 Mar 2023

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