SINGAPORE – Leading multinational F&B manufacturing and distribution company, Food Empire Holdings Limited (“Food Empire”, the “Company” or together with its subsidiaries, the “Group”) has successfully secured a US$10.0 million loan from the European Bank for Reconstruction and Development (“EBRD”), reflecting the EBRD’s confidence in the Group’s robust operations and growth potential. The loan will support the construction of Food Empire’s new coffee-mix manufacturing facility (the “new facility”) located within the Khorgos Special Economic Zone (“SEZ”) in Kazakhstan.
The EBRD has invested more than €11 billion in 335 projects in Kazakhstan, with most of the funds supporting private entrepreneurship. In providing the loan to Food Empire, the EBRD said it expected the new facility to create jobs and to set a new benchmark for the food-processing sector in Kazakhstan and Central Asia in terms of technology and hygiene standards.
This is Food Empire’s first manufacturing facility in Kazakhstan. It will produce the Group’s portfolio of instant beverage products including its flagship MacCoffee brand of instant coffee-mix. Food Empire expects to export up to 50% of the products manufactured at the new facility to Central Asia and the Caucasus.
Food Empire Execufive Chairman, Mr Tan Wang Cheow, said: “We are very pleased that the EBRD recognises the value that the new facility will bring to the region, and we are thankful for their support. Not only will the new facility enable us to create at least 300 jobs for the local community, it will also allow us to more effectively meet the growing demand for our instant beverages in the region.”
About Food Empire Holdings Limited (Bloomberg Code: FEH:SP)
SGX Mainboard-listed Food Empire Holdings (“Food Empire” or together with its subsidiaries, the “Group”) is a multinational food and beverage manufacturing and distribution group headquartered in Singapore. With a portfolio spanning instant beverages, snack foods, and a growing presence in food ingredients, Food Empire’s products are sold in over 60 countries across North Asia, Eastern Europe, South-East Asia, South Asia, Central Asia, Middle East, and North America.
Supported by 9 manufacturing facilities in 6 countries and 23 offices worldwide, Food Empire offers an enticing range of branded beverages and snacks, including classic and flavoured coffee mixes and cappuccinos, chocolate drinks, flavoured fruity teas, bubble tea, instant cereal blends, and potato chips. Its food ingredients business features the finest freeze-dried and spray-dried instant coffee, as well as non- dairy creamer.
Food Empire owns a family of proprietary brands – including MacCoffee, CaféPHỐ, Petrovskaya Sloboda, Klassno, Hillway, and Kracks. MacCoffee – the Group’s flagship brand – has been consistently ranked as the leading 3-in-1 instant coffee brand in the Group’s core markets. The Group employs innovative brand-building activities, localised to match the flavour of the local markets in which its products are sold.
Since its public listing in 2000, Food Empire has won numerous accolades and awards including being recognised as one of the “Most Valuable Singapore Brands” by IE Singapore (now known as Enterprise Singapore), while MacCoffee has been ranked as one of “The Strongest Singapore Brands” and CaféPHỐ received “Top Brand” Award by Influential Brands.
Forbes Magazine has thrice named Food Empire as one of the “Best Under A Billion” companies in Asia and the company has also been awarded as one of Asia’s “Top Brands” by Influential Brands.
In recognition of its commitment to sustainability, Food Empire received the Sustainability Award at the 20th Securities Investors Association (Singapore) Investors’ Choice Awards 2019. For business excellence, the Group was named Winner of The Enterprise Award at the Singapore Business Awards 2020/2021.
For more information, please click here.
