Food conglomerate Monde Nissin Corp. is keen on new acquisitions that would add value to its growth strategy after it invested in businessman Jerry Liu’s Figaro Coffee Group and US-based food startup Terramino Inc. this year.
“Everything, whether in greenfield [startup projects] or acquisitions, there will be risk, so we weigh our risk appetite on how much risk we can take,” he explained.
Soesanto hinted at a much larger partnership between the two groups that could involve making Figaro products more widely available.He said this would be of a strategic nature similar to the tie-up between US-based Starbucks Corp. and Nestlé, one of the world’s largest fast-moving consumer good companies, for ready-to-drink caffeinated beverages found in supermarkets.
“Figaro is not an FMCG company, Monde is an FMCG company. I’m not promising anything [but this is] an example [of synergy],” he added. Monde’s underlying business remained strong as Asia Pacific Branded Food & Beverage revenues jumped 8.4 percent to P58.55 billion in 2022. Total revenues in 2022 were up 6.7 percent to nearly P74 billion.
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