From left: F&N Dairies (Thailand) Limited managing director Suchit Riewcharoon, Nestlé Indochina chairman & chief executive officer Victor Seah and Fraser & Neave Holdings Bhd CEO Lim Yew Hoe.
KUALA LUMPUR: Fraser & Neave Holdings Bhd
(F&N) has secured extended rights from Societe Des Produits Nestle S.A. and Nestec S.A. (Nestle) as the exclusive manufacturer and distributor for Nestle’s Bear Brand sterilised milk in Cambodia.
In a statement today, 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 Nestle in 2007 and subsequently renewed in 2015,” it said, adding that the deal further boosted its presence in the Indochina 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 Nestle 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 beverages factory at Wang Muang in 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. - Bernama
