By The Nation
Under this agreement, DKSH will provide capillary distribution and deep local knowledge to Hormel Foods across Thailand, Taiwan, Malaysia, Brunei, Cambodia and Myanmar.
James P Snee, group vice president at Hormel Foods Corp and president of Hormel Foods International Corp, said: "Introducing more consumers worldwide to the Hormel Foods family of brands is a major strategic priority for our company. We are confident that by partnering with DKSH, one of the region’s leading market expansion services company, we will be able to rapidly increase our footprint in Asia."
Joerg Wolle, president and CEO, DKSH Group, said: "While mature markets like the US or Europe are still facing challenges, companies continue to turn to Asia for growth opportunities. Due to the rising Asian middle class, end-consumers are becoming wealthier, have more disposable income and are getting more discerning in their choice of food. Today, they are more willing to pay for higher quality and a wider variety. DKSH is pleased to bring the premium food products of Hormel Foods to consumers in Asia."
Somboon Prasitjutrakul, head of consumer goods at DKSH, added that DKSH Consumer Goods is delighted to be the pan-Asian market expansion services partner for Hormel Foods, to help their brands, market presence and market share to grow in Thailand, Taiwan, Malaysia, Brunei, Cambodia and Myanmar. Some well-known Hormel Foods brands are Chi-Chi’s, Dinty Moore, Farmer John, Herdez, Jennie-O Turkey Store, Lloyd’s Barbeque, the SPAM, family of products and Stagg Chili, as well as the world-famous Skippy peanut butter.
This new partnership will further strengthen DKSH’s market position in the region while contributing incrementally to the group’s overall earnings and profitability over time, Somboon said.