Food Empire's stock is soaring 3.30% in early trading on Friday, following the announcement of a strategic partnership with Santan Food Services, a brand under AirAsia's non-airline subsidiary RedBeat Ventures. This collaboration aims to co-develop and launch a new range of ready-to-drink beverages, marking a significant expansion for Food Empire in the travel retail and regional consumer markets.
The partnership will kick off with the introduction of a Vietnamese iced coffee product, set to be sold on AirAsia flights and through various retail channels across the region. This move not only provides Food Empire with direct access to the vast network of AirAsia's customer base but also opens up new revenue streams in the competitive beverage market.
Investors are responding positively to the news, as the partnership paves the way for Food Empire and Santan to explore further co-branded and private label initiatives across a wider range of beverages and snack products. This strategic alliance could potentially lead to significant growth opportunities for Food Empire, expanding its product portfolio and market reach in the Southeast Asian region.
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