Fraser & Neave announced plans today (20 October) to buy King’s Creameries to expand its ice-cream business in Malaysia, Singapore and Thailand.
King’s Creameries is an ice-cream manufacturer based in Malaysia, owned by Australia-based food and drinks group Lion Nathan National Foods.
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The manufacturer, which sells products under its King’s flagship brand, has two facilities in Malaysia that produce ice cream sold through supermarkets, convenience stores, and foodservice operations.
Koh Poh Tiong, the CEO of Fraser & Neave’s food and beverage business, said: “The acquisition of King’s Creameries is in line with our strategy to scale up our existing ice cream business in Singapore, Malaysia and Thailand, thereby strengthening its overall market presence and position. It paves the way for us to review our combined operations to extract synergies as well as consolidate and offer a complementary portfolio of brands and products to satisfy a diversity of consumer segments.”
The deal is still awaiting final regulatory approval.
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