Proposal of Food Distribution
Taekyung Food & Processing (TFP) Co., a wholly owned subsidiary of South Korea’s Nongshim Group, offered Australia-based Beston Global Food Co (BFC) a proposal to introduce the latter’s premium food products in the Korean market through establishing local distribution networks.
According to an Australian news outlet, BFC chairman Roger Sexton hosted four representatives from the Korean company, including chief executive officer Bae Hyuk-jin, in McLaren Vale, Australia on July 19.
Head of BFC’s global business division, Dr Sexton said, “They approached us with the view of inspecting our local networks and they particularly loved the nutritious nature of our products — no sugar, no salt. no allergenics, that sort of thing. They’ve submitted a written proposal but I haven’t had time to consider it. There’ll be follow up discussions in the near future and it’s potentially very exciting, but it’s very early days.”
BFC has been expanding in Asian markets through tie-ups with local firms in the region. In June, the company entered into a strategic partnership with JM WOWO, a Chinese catering and foodservice e-commerce platform. Earlier in April, BFC unveiled it will team up with Chinese meat processor business Hondo Agricultural Co. to sell allergen-free, ready-to-eat meals in the country.
Dr Sexton said Beston could soon conduct a product demonstration in Seoul at the request of Taekyung.