Sri Lanka’s Norfolk Foods strengthens global footprint with Indian and Thai joint ventures
Ada Derana: Norfolk Foods (Pvt) Ltd, a pioneer in the manufacture of specialised frozen foods in Sri Lanka has taken a bold stride in strengthening its global presence. Establishing CPNI (CP Norfolk India) as a joint venture with Charoen Pokphand Foods (CPF) Thailand, the globally renowned agro-industrial and food conglomerate, the two entities cemented their commitment to work together, capitalize on shared opportunities and maximise potential. With Norfolk Foods’ majority stake in CP Norfolk India (CPNI), this partnership demonstrates their robust presence in the Indian market.
The strategic agreement will empower Norfolk Foods to leverage, reach and cater to discerning Asian consumers. The company aims to gain insight into regional markets and expand product offerings to other parts of the world. The joint venture will also help Norfolk to enhance competitiveness both locally and in the global arena.
In 2016, Norfolk Food and CPF Thailand recognized the potential for collaboration and formed an initial partnership. Today, as a testament to its success and growth, Norfolk Food and CPF Thailand have strengthened their alliance.
Charoen Pokphand Foods Public Company Limited (CPF Thailand) is the world’s largest producer of feed and shrimp. It is also among the world’s top three producers of poultry. The Company operates in both livestock (broilers, layers, and ducks) and aquaculture (shrimp and fish) businesses. The company covers the entire production cycle including animal feed manufacturing, animal breeding, animal farming, meat processing, and food processing. This is done through an impressive level of vertical integration. The comprehensive approach ensures the highest standards of quality and efficiency throughout their diverse range of businesses.
M. Ziauddin, Managing Director CPNI/Norfolk Foods, stated, “We are honoured to have been invited by CPF to set up a joint venture in India. CPNI is fully committed to providing the Indian market with premium ready-to-eat products of the highest quality.”
Ameena Ziauddin, Deputy Managing Director Norfolk Foods Sri Lanka, Director CPNI added, “We are very excited to expand our footprint globally. We have been keen to expand into the Indian Market and CPF’s collaboration provided the perfect opportunity to embark on this new chapter.”
Norfolk Foods was established in 1994 under a strategic partnership between British and Sri Lankan entities as a brainchild of Mohamed Ziauddin, and accomplished food specialist with a visionary mindset, trained in the United Kingdom was the brain behind it. Harnessing his extensive expertise and knowledge gained abroad, Ziauddin embarked on the journey of introducing the Norfolk Foods brand to Sri Lanka.
Today, he leads a team of esteemed chefs and food technologists and spearheads a culture of constant innovation. Norfolk caters to the refined tastes of a discerning clientele and drives the development of specialty foods.
Norfolk Foods produces an extensive range of meat, poultry, fish and vegetable-based products. The company supplies the retail market, star class hotel chains, and international franchises, both in Sri Lanka and in the South Asia region.
The company’s Norfolk and Crescent products have gained a steadfast following of loyal customers. The brand is also upheld by unwavering dedication to superior quality, and exceptional standards. Norfolk Foods will continue to exceed expectations, setting new benchmarks in the industry.
OSL take:
The growth in Sri Lanka’s manufacturing and exports sectors is indicative with the joint ventures with foreign partners being made public like the ones recently reached by Norfolk Foods in Sri Lanka. It is also indicative of the overall expansion in Sri Lanka’s economy despite challenging economic conditions. The many trade agreements as well as trade concessions enjoyed by the country have also helped boost the expansion of Sri Lanka’s manufacturing and exports sectors. The joint ventures formed between local businesses and foreign ventures are also indicative of the growing business confidence in Sri Lanka’s businesses and the country’s growth potential. Given the country’s target of becoming an emerging business destination in the South Asian region and the increasing business potential, foreign businesses/investors could confidently explore the growing opportunities in Sri Lanka.
| Article Code : | VBS/AT/20230624/Z_4 |