MILAN – In a bid to win a larger share of the instant coffee markets of China and Southeast Asia, Singapore’s leading instant-coffee maker, Super Group Ltd., said that they are seeking to make their first acquisition in a decade.
It’s last acquisition was Owl international in 2003, but the group is planning a fresh wave – by acquiring other fast expanding coffee makers, and other growing beverage companies the group hopes to directly compete with Nestle in Southeast Asia and China.
“We are building our war chest for acquisitions,” Super Group’s head of corporate strategy and business development, Darren Teo, said. “Organically, the company is doing well, but we are looking at ways we can expand faster. We are at the right time of the growth story.”
Coffee consumption in the Philippines and Vietnam surged by 55% in the last four year, ten times faster than the usual average. In 2008 to 2011, food and beverage purchase in Southeast Asia racked in an estimated US$4.2 billion.
