Food Empire - KGI Securities 2023-09-13: Caffeine Like No Other

• Food Empire (SGX:F03), a publicly traded company listed on SGX Mainboard, is a global leader in branding and manufacturing in the food and beverage industry.
• With a portfolio spanning instant beverages, snack foods, and a growing presence in food ingredients, Food Empire’s products are sold in over 60 countries across the globe, with its core markets mainly being in Russia, Eastern Europe, and South-East Asia. The company’s business is supported by 8 manufacturing facilities in 5 countries and 23 offices worldwide.
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Investment Thesis

Strong Brand Portfolio

• Food Empire has a strong portfolio of brands that are well-known and trusted by consumers in many countries. The brand portfolio consists of 15 different brands spread across different regions and countries. Its brand portfolio also spans across 3 different kinds of products, instant beverages, snacks, and coffee capsules.
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• In its Southeast Asia market, the Vietnamese market in particular, Food Empire also currently holds an impressive market share of over 90% in the iced instant coffee segment, successfully establishing its brand names, MacCoffee and Café Pho. In addition to its iced instant coffee offerings, Food Empire also presents a diverse range of other instant beverages to cater to the Vietnamese market.
• Food Empire is also constantly on the lookout for acquisition opportunities to drive its growth in its current market or penetrate into another key market. The company has made several efforts to acquire 3rd party companies, with a key focus in Southeast Asia, where there are more emerging markets that could possibly be Food Empire’s catalysts for growth. This is also part of the company’s attempt to determine if the market is in line with Food Empire objective and would also be able to drive growth for the company.

Diversified supply chain

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Tang Kai Jie KGI Securities Research | https://www.kgieworld.sg/ 2023-09-13 SGinvestors.io

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