This is the first of a number of new distribution agreements between HBG and leading regional food manufacturers.
Young's Food Products will now be marketed and distributed by HBG, adding a new dimension to HBG's extensive portfolio of some of the best name brands in the world including Kraft Foods; Unilever; Kellogg's; Wrigley; Heinz; Chupa Chups; Hero; California Gardens; Diamond; Sanita, Najjar Coffee.
"Young's Food Products is one of Pakistan's biggest food manufacturing and processing companies, and has been exporting its line up of products across the world to Bangladesh, Oceania, The GCC Region, Africa, Europe and North America.. Under the terms of this agreement, HBG will exclusively market and distribute the company's "French" brand of mayonnaise, chicken and sandwich spreads and honey along with its "Shangrila" brand of exquisite Oriental sauces from the South East and a wide variety of exotic pickles, across the UAE, Oman, Jordan and Qatar " says Khalid Salamat, HBG's Director Marketing
"This move is in line with our plan to make strategic investments in exciting FMCG companies and/or brands and play an active role in building operations or products into market leaders across the region," he adds.
HBG's core competency is in the area of FMCG distribution, which it will use as the foundation for growth and diversification. Their success in this arena is aptly demonstrated in the turnaround of Spinney's Jordan following its acquisition in 2004. A net loss on sales of US$23 million at the end of 2003 was turned into projected sales of US$40-50 million in 2005 and a healthy profit.
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HBG Holdings signs distribution agreement with Young's Food
- United Arab Emirates: Tuesday, August 16 - 2005 at 10:21
- PRESS RELEASE
In line with its expansion strategy, HBG Holdings, the Dubai-headquartered, consumer products group, announced that it has signed an exclusive distribution deal with Young's Food Products, a leading food manufacturing and processing company in Pakistan.
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Notes and media contacts
About HBGFounded in 2004, HBG Holdings Limited is a privately-owned, Dubai-headquartered, consumer products group. Its shareholders comprise a number of leading expatriate and UAE businessmen, all of whom have extensive Middle East experience.
The company, which specializes in the fields of distribution, manufacturing and retailing across the Middle East and South Asia region (MESA), has an equity value of over US$45 million ( as of March 2005 ). Further equity commitments will be sought over the next 24 months through current and new shareholders, in order to fund a dynamic regional expansion programme.
Headed by Imtiaz H. Hydari (Group CEO), a renowned businessman with a successful regional track record of managing conglomerates, HBG employs more than 350 people in offices in Amman, Muscat, Aqaba, Lahore, Dubai, Doha and Karachi. A large proportion of these are nationals of the countries in which the company is operating. This workforce is expected to grow rapidly in line with HBG's expansive growth policy.
The company's overriding plan is to make strategic investments in exciting FMCG companies and/or brands and play an active role in building operations or products into market leaders across the region.
Contact Details
HBG Holdings
Sheikh Zayed Road, Al Moosa Tower II,
25th Floor, Suite 2502,
P O Box 113341, Dubai, United Arab Emirates
Tel: + 971 4 3314133
Fax + 971 4 3314134
For media enquiries contact:
Lovetto Nazareth
Four Middle East
Office 57, Building 8, Dubai Media City
P O Box 502068, Dubai, United Arab Emirates
Tel: +971 4 362 5130 (office)
Tel: +971 50 5087035 (mobile)
Posted by Lara Lynn Golden, News EditorTuesday, August 16 - 2005 at 10:21 UAE local time (GMT+4)
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