SINGAPORE: Fraser and Neave pays US$16.7m for Yoke Foods stake
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.
- Diageo's Q4/FY 2016 results - Preview
- Diageo's FY performance by region - Focus
- Wine consumption and its health effects
- Can craft breweries compete in lager arena?
- Time to take stock of Constellation's Corona
- Diageo sets sights on alcohol-alternative trends
- SABMiller puts brakes on A-B InBev integration
- Diageo names new TR head as Doug Bagley exits
- Brexit "not a big deal" for Scotch - Diageo CEO
- AB InBev seeks single buyer for European beers
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends