LISTED food raw materials producer D&L Industries Inc. has partnered with a global agribusiness and food group based in the United States to capitalize on each other’s strong distribution networks.
In a disclosure to the Philippine Stock Exchange late Friday, D&L said its unit Oleo-Fats Inc. (OFI) has entered into distribution agreements with Bunge Agribusiness Singapore Pte Ltd, a wholly owned subsidiary of Bunge Limited.
Bunge is a global agribusiness and food company based in White Plains, New York and is listed on the New York Stock Exchange.
Under the deal, OFI will become Bunge’s exclusive commercial partner to import, market, sell and distribute packaged softseed oils into Philippines.
Bunge, in turn, will become OFI’s exclusive commercial partner to export, market, sell and distribute coconut oils under its Farm Origin brand into countries in the Asia-Pacific region.
This arrangement is seen to boost and strengthen the companies’ food service, retail and food processor industries in the Philippines and Asia Pacific.
“We’re delighted to have OFI as our distribution partner,” Aaron Buettner, global head of Bunge’s oil division, said.
“By leveraging OFI’s capabilities in the Philippines and their relationships with customers including quick service restaurant chains, snack food manufacturers, biscuit and confectionery manufacturers, industrial bakeries, and hotels, restaurants and caterers, Bunge will be able to fully participate in an important and growing destination market,” Buettner said.
“We also look forward to being able to provide coconut oil supplied by OFI as part of our Farm Origin portfolio. This is a premium oil that fits well with our other offerings for retail and foodservice in the Asia-Pacific region,” he added.
For his part, Vincent Lao, managing director of OFI, said: “Partnering with Bunge, the world’s largest oilseed processor, gives us an even broader range of products to serve customers in the Philippines and strengthens our position as a supplier of choice to our country’s fast-growing foodservice industry.”
“We’re also seeking to grow by adding coconut oil to Bunge’s Farm Origin brand. By leveraging Bunge’s logistics and capable commercial and marketing teams, we’ll be able to participate in broader regional growth as well,” Lao said.
Established in 1963 and listed in December 2012, D&L is a homegrown company that is engaged in four main businesses: food raw materials, plastics, aerosols, and oleochemicals and other specialty chemicals.