Sri Lankan company partners with Germany’s Müggenburg Group
The Morning: HVA Foods PLC, a member of the George Steuart Group, announces its exclusive distributor partnership with Müggenburg Group, Germany, a family-owned company with over eight decades of expertise in high-quality herbs and botanicals.
This partnership enables HVA Foods PLC to introduce Müggenburg’s extensive range of raw and processed natural ingredients to Sri Lanka, for its value addition in the tea industry and other emerging industries in the nutraceuticals and natural supplements.
Müggenburg Group boasts a diverse portfolio of over 1,000 herbs and botanicals sourced from more than 60 countries. Their offerings include medicinal plants, spices and herbs, dried fruits, resins and balsams, bee products, active ingredients, and nuts, tailored for various markets, including tea, food supplements, spirits, pet food, and pharmaceuticals.
This partnership enables HVA Foods PLC to introduce a unique spectrum of high-quality natural raw materials to Sri Lanka’s tea industry, nurturing opportunities for value-added tea production while expanding into new markets such as nutraceuticals, superfoods, specialty foods and supplements.
HVA Foods PLC Director and Chief Executive Officer Graham Stork said: “This partnership with Müggenburg Group is a significant step towards driving value addition within the Sri Lankan tea industry. By introducing a diverse range of premium herbs and botanicals, we aim to enhance our product offerings and support the industry in exploring new avenues for growth.”
“This collaboration also enables us to expand into markets beyond tea, such as the supply into the nutraceuticals and supplements industry, which our very own group company, George Steuart Health, is also venturing into. We also look forward to exploring the possibility of introducing authentic Sri Lankan herbs into the Müggenburg range of products,” Stork added.
Müggenburg Group brings its wealth of expertise in processing, pasteurisation, and insect control, ensuring that the raw materials meet the highest global quality standards. Their ability to customise products based on market needs, combined with HVA Foods PLC local market knowledge, provides Sri Lankan manufacturers with an unparalleled advantage in sourcing top-tier herbs and botanicals.
Müggenburg Group Chief Executive Officer Jan Müggenburg said: “Partnering with HVA Foods PLC and the George Steuart Group, a company with a rich legacy in Sri Lanka’s tea industry, is a remarkable opportunity. Together, we combine nearly 300 years of expertise- bringing George Steuart’s longstanding influence in Sri Lankan tea together with Müggenburg’s role in the global botanical market. This collaboration allows us to bring exceptional natural ingredients to Sri Lanka, supporting high-quality production in the tea and nutraceutical sectors and honouring the traditions of both companies.”
OSL take:
The ongoing economic activities in Sri Lanka and local private sector businesses are engaged in expansion programmes that indicate the overall strength and growth of the country’s private sector despite facing challenging economic conditions. It also indicates the strength and resilience of Sri Lanka’s overall economy as well. The increasing economic activities in Sri Lanka have opened up many business/investment opportunities in the country as well as present opportunities for foreign businesses/investors to explore the possibilities of forming partnerships or joint ventures with local businesses with the aim of expanding operations locally and internationally. The partnership formed between a Sri Lankan business with a German business indicates the growing business potential in Sri Lanka’s private sector as well as the opportunities opening up in key economic sectors like the commodity exports sector. Foreign businesses/investors could explore the expanding opportunities directly or even through collaborations with local businesses. The steady growth recorded by Sri Lanka’s economy and the increasing business potential in Sri Lanka presents many lucrative business/investment opportunities as well as opening for local collaborations for foreign businesses/investors.
| Article Code : | VBS/AT/20241021/Z_2 |