Menora Foods to join Monde Nissin Group
Australian food marketing and distribution business Menora Foods has confirmed the sale of its business to the Australian arm of Filipino food conglomerate Monde Nissin.
The transaction remains subject to conditions and is expected to be completed by the end of March 2015.
Joining Monde Nissin will ‘build on existing business’
Australian Food News reported in August 2014 that Menora Foods had received unsolicited approaches from several third parties seeking to purchase the business, which had prompted the Company to undertake a strategic review.
“After a thorough strategic review, we are pleased to announce that Monde Nissin Australia will acquire Menora Foods with the intention to build on the existing business and to continue its current growth trajectory,” said Sam Schachna, Managing Director Menora Foods.
“Monde Nissin Corporation is a leading international food company with exceptional distribution reach in South East Asia,” Mr Schachna said. “It has the resources and experience to build Menora in Australia and take its brands into new markets,” he said.
“As a private, family owned business, Monde Nissin shares the values and approach to doing business that Menora has been known for since it was established in 1967,” Mr Schachna said. “Menora is experiencing strong growth and we believe that Monde Nissin is well placed to take the company through its next phase of development,” he said.
Established in 1967, Menora Foods is a family owned business which has grown to become a national leader in fast moving consumer goods in Australia and has expanded in export markets. Menora owns leading brands Wattle Valley and Peckish and also markets and distributes some of Australia’s most trusted brands for third parties including Bonne Maman, Maille, Chobani Greek Yogurt, Huon Salmon, and Cobram Estate olive oil.
Menora to expand Monde Nissin presence in “very important” Australian market
Henry Soesanto, Executive Vice President of Monde Nissin Corporation said he was “very pleased to welcome the Menora Foods team and its partners into the Monde Nissin family”.
“Monde Nissin aspires to be a significant foods and beverages player in the Asia Pacific region, we see Australia as a very important market that we should have a strong presence in, and Menora Foods with its marketing and distribution capability provides us with a very good strategic fit in achieving our vision,” Mr Soesanta said.
“The combination of Menora’s own brands, Wattle Valley and Peckish as well as its leading agency brands, combined with Monde Nissin’s category leading Black Swan and Nudie brands, provides a solid platform within the Australian and export markets to support growth and new opportunities,” he said.
Chris O’Sullivan, Managing Director Monde Nissin Australia said the Australian arm of the Monde Nissin business was recently formed to “pursue the growth strategy of Monde Nissin Corporation in Australia”.
“Its extensive distribution network in South East Asia, and a willingness to invest in the development of brands for the export markets, gives Menora Foods a very exciting future,” Mr O’Sullivan said.