Food Empire Holdings, listed on the Singapore Exchange (SGX), has announced a significant investment of $80 million to establish a new freeze-dried coffee manufacturing plant in Binh Dinh province, Vietnam. This investment marks the company’s second facility dedicated to freeze-dried coffee, reflecting its ongoing strategy to expand its ingredients division.
Construction of the new plant is scheduled to commence in the first quarter of 2025, with completion anticipated by early 2028. The facility will surpass the capacity of the company’s existing plant in India and will be situated in a region renowned for Robusta coffee bean production. Funding for the project will be sourced from internal resources and bank loans.
In addition to this development, Food Empire has forged a strategic partnership with Ikhlas Capital, announced in August 2024, aimed at enhancing the company’s footprint in Southeast and South Asia.
Sudeep Nair, CEO of Food Empire, emphasized the strategic importance of the Southeast Asian market, stating, “Our growth in Southeast Asia, particularly Vietnam, has been the most robust in recent years. We see substantial potential for further expansion, which is why we are concentrating our efforts in this region.”
Food Empire’s branded products are distributed across over 60 countries. The company operates facilities in Malaysia, Vietnam, Ukraine, and Russia, where it produces coffee mixes, instant beverages, and snacks.
The company’s recent ventures highlight a growing emphasis on the Asian market. In May 2024, Food Empire announced plans to launch its first coffee-mix production facility in Kazakhstan, expected to begin operations by late 2025.