Premium proposition for Beston comes as Korean company tours its operations
Luke Griffiths, The Advertiser
July 21, 2016 12:30am
A LOCAL premium food company has received a proposal from the world’s largest noodle manufacturer following a fleeting tour of its national operations.
Culminating in a visit to McLaren Vale yesterday, Beston Global Food chair Roger Sexton hosted four representatives from Korea’s Nongshim Group, including its chief executive Bae Hyuk-jin and brand ambassador Kwon Jung-joo — a former Miss Korea.
The group’s visit also took in Sydney, Melbourne, Mt Gambier and Adelaide.
“They’re looking to introduce premium food products into Korea through their established distribution networks,” Dr Sexton said.
“They approached us with the view of inspecting our local networks and they particularly loved the nutritious nature of our products — no sugar, no salt. no allergenics, that sort of thing.
“They’ve submitted a written proposal but I haven’t had time to consider it.
“There’ll be follow up discussions in the near future and it’s potentially very exciting, but it’s very early days.”
Nongshim’s turnover almost topped $2 billion last financial year.
Dr Sexton said Beston could soon conduct a product demonstration in Seoul, at the request of Mr Hyuk-jin.
After floating at 35 cents in August 2015, Beston’s share price has traded as high as 62.5 cents. It closed yesterday marginally higher at 44 cents.
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