Malaysia’s Fraser & Neave Holdings Bhd (F&N) is set to establish Halal food as its new pillar of growth following the acquisition of 3 food and beverage companies in 2020.
In December, F&N announced the acquisition of Sri Nona Food Industries Sdn Bhd, Sri Nona Industries Sdn Bhd and Lee Shun Hing Sauce Industries Sdn Bhd for around RM60 million (US$14.85 million).
F&N CEO Lim Yew Hoe said the group is constantly exploring new ways to expand its business through organic growth and business synergies to ensure a more sustainable future. He said, “Our latest investment will serve as a platform to expand into more Halal food segments and to meet the rising demand for convenience and RTE food products.
Lim added that with F&N’s robust R&D capabilities, it is confident the new acquisitions will help it to grow its Halal categories and introduce more innovative products, and boost its profit margin in the long run.
Lim concluded that for 2021, the group had identified opportunities to fuel growth and cost efficiency, driven by F&N’s 3 strategic priorities of Innovation, Cost Competitiveness and Excellence in Execution.