Beston Global Food Company Ltd (BFC) has recently signed a Memorandum of Understanding (MoU) with KCG Corporation (KCG) in Thailand in which KCG will become a strategic investor in BFC and enter into a long term agreement for the supply of BFC’s dairy, meat and alternative meat products into Thailand.
KCG is the leading importer of dairy products like cheese, butter and whey into Thailand and one of the largest suppliers of premium quality food products to the Thai market. It owns the ‘Allowrie’ and ‘Imperial’ brands in Thailand and supplies products to many major supermarket chains in Thailand like Big C, 7-Eleven, Tesco, Makro and Foodland.
KCG has expanded its operations over the last 30 years with the establishment of distribution outlets across most of Asia and has also expanded its product range to include meat, seafood, artisan fine foods and canned goods. BFC and KCG have a well established trading relationship and a strong history of working together.
Following the work done to establish the Beston brands in Thailand by BFC in its early years, KCG and BFC reached agreement for KCG to assume responsibility for the importation and distribution of Beston products in Thailand. BFC and KCG have also collaborated on the development of a mozzarella product specifically for the market in Thailand and several other ASEAN countries.
Under the MoU agreement, KCG will become the exclusive distributor of Beston products in Thailand and enable BFC to increase its penetration into ASEAN markets with its products. Thailand imports more than 10,000 metric tonnes of processed dairy products each year from all over the world and has also been increasing its imports of dairy nutraceuticals in recent years (including Lactoferrin).
KCG has also identified the opportunity to take the meat and plant protein products produced by the Provincial Food Group (PFG), a wholly owned subsidiary of BFC, and distribute these products into Thailand and other ASEAN countries.
KCG will also untap the potential of other BFC retail brands, in particular, Eigh+ alkaline water and Immune+Lactoferrin drinks, as well as exploring the opportunities for co-packing partnerships in Australia using BFC produced ingredients.
The agreement will also help to provide supply security for KCG for quality Australian dairy products. BFC recently received the award of ‘Best Mozzarella in Australia’ for its mozzarella cheese at the 2022 Dairy Industry Association of Australia (DIAA) Awards in Melbourne.
