NR Instant Produce (NRF), a manufacturer and exporter of food and condiments, is getting ready for IPO as it seeks to build a strong footing in the plant-based food business as well as strengthening its existing businesses in ethnic foods, condiments and instant drinks.
NRF also plans to expand production capacity and its V-shaped (single-portion) packaging market for food products and non-food products (like sanitisation products) for domestic consumption and export.
NRF is also looking at increasing production capacity for konjac noodles to satisfy the growing health food market.
NRF recently invested in Phuture Food, a startup focusing on developing minced pork alternative using soybean protein. NRF plans to build a plant-based food manufacturing facility in Thailand with an ambitious target of deriving up to 40% of its future revenue from plant-based products by 2024. NRF targets revenue of Bt 3 billion (US$95.2 million) by 2025.
NRF seeks IPO to boost existing capacity and new investments in Plant-based food
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