Singapore-listed Fraser and Neave (F&N), part of the Thai Beverage ecosystem controlled by billionaire Charoen Sirivadhanabhakdi, has offered VND98 billion ($3.76 million) in a bid to acquire a soft drink plant of Chuong Duong Beverage JSC, a subsidiary of Vietnam’s largest brewer Sabeco and known for its “Saxi” soda. Chuong Duong disclosed the proposal in…
TheVentures, a South Korean venture capital (VC) firm, has completed a buyout of Chicken Plus Vietnam, securing majority control through a dedicated overseas project fund. As reported by newswire VentureSquare on February 12, the VC firm has established a project fund for overseas investment and acquired majority shareholder status in Chicken Plus Vietnam. The structure…
The Philippines’ Jollibee Foods Corporation (JFC) earned an EBITDA (earnings before interest, taxes, depreciation, and amortization) of nearly PHP2.53 billion ($44 million) from its fried chicken chain Jollibee and Highlands Coffee chain in Vietnam in the first half of this year. Specifically, JFC earned nearly PHP1.36 billion ($23.6 million) from Jollibee Vietnam in the period,…
Over 30,000 Vietnam food and beverage stores shut down in the first half of 2024 as consumers cut down on visits to cafes, a company that consults the industry said. There were 304,700 food and beverage outlets as of June-end, down 3.9% from the end of last year, iPOS said in a report. There was…
ROME, June 8 (Xinhua) — Global fisheries and aquaculture production has reached a new peak, with aquaculture production of aquatic animals surpassing capture fisheries for the first time, according to a report from the Food and Agriculture Organization of the United Nations (FAO) released on Friday. The report, titled “The 2024 edition of The State…
By Anay Mridul Israeli food tech startup Forsea Foods has unveiled the first prototype of its cultivated eel, linking up with Tokyo vegan restaurant SAIDO to create dishes with the cell-cultured fish. It aims to launch the seafood product by 2025. Forsea Foods, the only known company working on cell-based eel, has created the first…
August 1, 2023 A Phuc Long kiosk in Ho Chi Minh City. Photo by VnExpress/Tat Dat Beverage chain Phuc Long saw revenue in the second quarter falling 14% year-on-year to VND370 billion ($15.63 million), the first decline since it was acquired by retailer Masan Group. Phuc Long’s pre-tax profit declined by a third to VND63…
Yum Brands-owned KFC Thailand announces it is working with Meat Zero to create new plant-based fried chicken menus to be initially served at two KFC Green Stores in Thailand. Thai pork and poultry giant Charoen Pokphand Foods PLC (CPF), Thailand’s largest agro-industrial food business, unveiled MEAT ZERO this May with goals of becoming the top…
TOKYO — Japanese trading house Itochu has begun full-scale sales in Japan of plant-based frozen precooked “chicken” products from Thailand’s biggest conglomerate, Charoen Pokphand Group. In cooperation with Itochu group company Prima Meat Packers and other partners, Itochu is selling the plant-based chicken, including nuggets and Japanese-style cutlets, at supermarkets and online shopping sites, through which…
Poised to reinvent the Vietnam culinary and beverage sector with its trailblazing, cost-effective approach to product development, Bloom. represents a dynamic leap forward for the industry. The event was attended by high-profile representatives, including Sweden’s Ambassador to Vietnam Ann Måwe, Pham Hong Quat, director-general of the National Agency for Technology Entrepreneurship and Commercialisation, along with…
Jollibee Foods Corporation’s subsidiary SuperFoods, which owns Highlands Coffee, has transferred all of its assets of Vietnamese noodles chain Pho24, in an exit to East-West Restaurant Concepts. The franchise agreement for the operation of Pho24 stores in the Philippines was also terminated. The value of the deal has not been disclosed. (Source: Pho24) Founded in…
The average rent in Saigon retail shopping malls last quarter was around US$50 per square meter per month, a year-on-year rise of 9.1%, according to Cushman & Wakefield. Last year dozens of local and foreign brands in fashion, gastronomy, cosmetics, sports, and others came to the city and rented space in malls, the property consultancy…
NEW YORK, N.Y.— Nguyen Coffee Supply has launched two additional Ready-To-Drink (RTD) cold brew products to their Vietnamese Coffee Line. Joining their Classic Black Cold Brew, the two new cold brew cans include Condensed Milk and Coconut and will be available on the Nguyen Coffee Supply website and at Whole Foods Markets in New York…
Starbucks continues to respond to increased consumer demand for convenience, partnering with local franchisee Coffee Concepts Limited to bring its drive-thru offering to Cambodia. The Seattle based coffee chain has opened its first drive-thru store in Cambodia in partnership with its local franchise partner Coffee Concepts Limited. The US coffee chain, which operates 30 outlets…
Highlands Coffee, one of the largest coffee chains in Vietnam, earlier this month hiked its prices by 10-15 percent. It said that the increase served to maintain product quality amid market fluctuations. Hoang Viet, CEO of Laha Cafe, said that coffee chains are seeing costs of coffee surging by 25 percent and rents by 10-20…
Starbucks Vietnam will close its Hanoi outlet after eight years, following the closures of two locations in Vietnam last year. The Starbucks Lan Vien outlet in Hoan Kiem District will operate until June 30, the company said in a Facebook post. Last year, Starbucks Vietnam had closures of another outlet in Hoan Kiem District and…
New York, N.Y. — Nguyen Coffee Supply announced the closure of a $2.6 million seed round of funding. The funding will advance Nguyen Coffee Supply’s mission to bring Vietnamese coffee–and the resilient robusta bean–to the masses and support the company’s expanding distribution and product innovation. The seed round will help transform the coffee industry through…
Leading Vietnam’s coffee renaissance has been Future Coffee Farm founder Toi Nguyen, whose plantation around 180 kilometers from Ho Chi Minh City has become an inspiration to new coffee farmers with grand ambitions of affecting coffee perceptions around the world. (Photo by Mervin Lee) PAVAN SHAMDASANI, Contributing writerFebruary 19, 2022 12:00 JST HO CHI MINH CITY…
IRVING, Texas, Aug. 30, 2021 The first 7-Eleven store in Cambodia is set to open Monday, Aug. 30, in Phnom Penh, the bustling capital city of the Southeast Asian country. Residents and tourists alike now can enjoy the world’s largest retailer’s unique style of convenience, signature food and drinks, as well as products and…
The arrival of yet another international pizza brand in Phnom Penh suggests a looming war for market share is cooking. Pizza, whether corporate, Khmer-influenced or classically Italian, is a favourite food among both Cambodia’s young and the expat community and there is increasingly no shortage of businesses after their tastebuds. Anthony Galliano, American Chamber of…
The prolonged spread of Covid-19 continues to dismantle the Cambodian restaurant industry. New research from the Cambodia Restaurant Association (CRA) shows that sales have been decimated by the pandemic, dropping 50 per cent last year over 2019 and now 60 per cent lower than 2020 levels. This represents a cumulative 80 per cent drop of…
Local food chain corporation United Food Group Co Ltd (UFG) has brought the US-based fast-food chain Pizza Hut to Cambodia and is set to open its first shop this month, reflecting the ongoing expansion of US businesses into the Kingdom. A subsidiary of New York-listed Yum! Brands Inc, Pizza Hut has the advantage of best-practice…
HCM CITY – The Vietnam online food delivery trend has seen robust growth since the COVID-19 outbreak began, and this is likely to continue through this year given Vietnamese consumers’ cautiousness, Peter Christou, commercial director of Kantar Worldpanel Vietnam, has said. There was rapid adoption of online food delivery by Vietnam consumers, food and beverage businesses…
SPC Group is launching the Paris Baguette bakery franchise in Cambodia, opening the first branch in the country‘s capital city, the company said Wednesday. According to SPC Group, the Korean firm behind bakery brand Paris Baguette, it forged ties with Cambodia’s HSC Group to open the first Paris Baguette store in Phnom Penh. Cambodia is…
Tyson yesterday (1 June) unveiled a range of three plant-based meat products featuring bamboo fibre, soy protein and wheat protein. The company is selling the products under a new brand, First Pride. Tyson said it will initially sell the nuggets, bites and strips in Malaysia. It plans to “roll them out to other markets in…
With a population of one hundred million people, of which 60% are youth who are willing to try out new products, the Vietnamese market looks highly attractive to foreign retailers. There are currently about 44 million Vietnamese in the middle class, and according to some forecasts this number will increase to 95 million by 2030….
Despite the current COVID-induced economic slump, Cambodia still represents an attractive market for several sectors, among them, United States franchises, which could start popping up in the Kingdom as early as 2022. Robert Jones, a consultant for Edwards Global Services, who represented three US brands poised to bring their products to the Kingdom at a…
LOUISVILLE, Ky.–(BUSINESS WIRE)–Papa John’s International, Inc. (NASDAQ: PZZA) continues to expand its global presence with 15 new restaurants set to open in Cambodia over the next three years. The flagship store in Phnom Penh opened in late March. “We are very excited to bring Papa John’s global brand to Cambodia. Papa John’s Cambodia’s team is…
Boncafé (Cambodia) Ltd and Tianle Food Global Co Ltd on Thursday signed a memorandum of understanding (MoU) to offer high quality beverages such as coffee and Italian Sodas at Papa John’s first outlet in Sangkat Chroy Chongva. Under the MoU, Boncafé Cambodia, the supplier of coffee equipment and beverage ingredients, will support Papa John’s expansion…
TEALIVE, the lifestyle tea brand in South-East Asia, is set to venture into Cambodia as brand owner Loob Holding Sdn Bhd has inked a master franchise agreement with a unit of HSC Group of Cambodia to set up 25 Tealive outlets in five years. Cambodia will be the eighth market for the Tealive franchise after…
Bangchak Corporation (BCP), a mostly state-owned energy firm, is planning to increase its Inthanin coffee houses overseas to grow its non-oil business after the pandemic calms down. BCP chief marketing officer and senior executive vice-president Somchai Tejavanija said the company will start with 3-5 new cafes in Laos. Inthanin Coffee claims to be environmentally friendly,…
The Council for the Development of Cambodia (CDC) on December 4 announced that it had issued a final registration certificate for Inter-Mattrid Beverage (Cambodia) Co Ltd’s $78 million brewery/beverage plant. The CDC noted that the facility is located in Dei Ith commune’s Sdao Kanleng II village in Kandal province’s eastern Kien Svay district and is…
Vietnamese ecommerce startup Lozi, operator of the Loship app, announced it has raised a bridge round of financing led by Singapore-based Vulpes Investment Management. The round was joined by Saudi Arabia-based Daal Ventures, Wealth Well, Nigerian VC firm Eucagi Ventures, KI Group, and Moje Akhbari, former managing director for Starbucks Greece and Cyprus. Founded in…
The Habit Burger Grill will open its newest international location in Cambodia on Wednesday, October 21. The California-based restaurant company renowned for its award-winning Charburgers grilled over an open flame, signature sandwiches, fresh-cut salads and more, announced the highly anticipated opening in the center of Phnom Penh, at the Tela Toul Kork Station. This marks…
