F&N announced the deal yesterday

F&N announced the deal yesterday

Fraser and Neave (F&N) has bought a 70% stake in Malaysian canned beverage maker Yoke Food Industries for SGD21m (US$16.7m).

The deal, announced yesterday (28 April), will give F&N access to Yoke Food's production capacity in South-East Asia's fast-growing non-carbonated beverage category, F&N said in a statement. Johor Baru-based Yoke Foods exports to Singapore, Indonesia and Indochina with brands including Day Day, SoSoy and Juice Secret.

Dato’ Ng Jui Sia, F&N's non-alcoholic beveragers CEO, said: “Both companies will benefit through greater scale, reach and the broader portfolio of brands.”

In 2012, F&N, a Singaporean conglomerate with interests in both food and beverage, sold its stake in Asia Pacific Breweries to allow its JV partner Heineken to take full control of the Tiger brewer.