| FOR IMMEDIATE RELEASE | 22 December 2013 |
Hong Kong/Baar - Swire Foods Holdings Limited (a subsidiary of Swire Pacific Limited - Trading & Industrial Division) and Mövenpick Foods Licensing Ltd (a subsidiary of Mövenpick Holding AG) have announced that they have formed a 60/40 joint venture, Swire MP Foods Limited in Hong Kong. The new company will build on the strengths of the two owners: Mövenpick will contribute its premium brand and its long term coffee expertise, while Swire will provide an area-wide distribution network and profound knowledge of the Mainland Chinese market.
The demand for high-quality premium coffee is growing, particularly in Mainland China. The coffee produced under the long-established Swiss brand Mövenpick has delighted coffee enthusiasts for over 50 years. Mövenpick, which already enjoys an excellent reputation in Asia, is looking to strengthen its presence in Hong Kong and the Mainland with its premium-quality coffee.
J B Rae-Smith, Executive Director of Swire Pacific's Trading & Industrial Division, comments: "Swire has a long history in Mainland China with business interests in various industries and a trusted and respected reputation. We are excited to be partnering with Mövenpick and this will be an excellent opportunity for us to leverage our distribution network and expertise in this vast market."
Guido Egli, CEO of Mövenpick Holding AG, says: "Mainland China and Hong Kong play an important role in the Mövenpick group's growth strategy. We aim to use our strong premium brand to exploit the enormous potential of these markets. Swire is our ideal partner. Our newly-founded joint venture has set ambitious growth targets for the Chinese coffee market. I am convinced that we can reach these objectives together."
Max Lau, Managing Director of Swire Foods, will be Chairman of Swire MP Foods Limited. The new company plans to market Mövenpick coffee in its original Swiss recipe to retail and food service channels in Hong Kong and Mainland China in 2014. It will initially focus on roast & ground coffee, coffee beans, freeze instant dry coffee and 3-in-1 coffee.
About Mövenpick Group
Mövenpick is a Swiss group of companies with global presence. Its core competency lies in the hospitality business with a focus on gastronomy, hotels, wine and premium branded products. Mövenpick is structured as a holding company with four independently operating business units: Mövenpick Hotels & Resorts, Marché International and Mövenpick Restaurants, Mövenpick Wein and Mövenpick Fine Foods. Mövenpick is present in Europe, the Middle East, Africa, Asia and North America. 2012 the group employed more than 19,500 people worldwide.
About Swire Pacific Group
Swire Pacific Limited (HKEX: 00019/00087) is one of Hong Kong's leading listed companies, with diversified interests in five operating divisions: Property, Aviation, Beverages, Marine; Services and Trading & Industrial. The company's operations are predominantly based in the Greater China region, where Swire has been established for over 140 years. As of December 2012, the Swire Pacific group employed more than 74,000 people globally. Swire Foods Holdings Limited is part of Swire Pacific's Trading & Industrial Division which encompasses a wide spectrum of businesses, ranging from managing iconic and popular consumer brands to manufacturing and cold chain logistics.
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