Farm Fresh has bought a 70% stake in Sin Wah Ice Cream Sdn Bhd, which is the owner of a brand of ice cream potong, for RM 28.4 million. The acquisition will faciliate the group’s planned launch of consumer packaged goods ice cream in early 2024.
As previously mentioned, Farm Fresh had announced its intention to enter the local ice cream market, particularly the ice cream potong segment. The acquisition of Sin Wah presents a perfect synergy, as it grants Farm Fresh immediate access to a vast network of 6,000 distribution drop-points and established logistics capabilities. Notably, Sin Wah’s ice cream potong enjoys strong popularity within the mass market, readily available in the nation’s leading minimarket chain 99 Speedmart.
With both Inside Scoop and Sin Wah now under its umbrella, Farm Fresh gains the expertise and resources to cater to diverse consumer segments with a wider range of ice cream products at various price points.
In another significant development, Farm Fresh has secured a strategic site within an hour of Manila for its new processing plant, slated to be operational in early 2024. This new facility will further strengthen the company’s regional expansion plans.