Foods has partnered with Mövenpick Foods Licensing, a subsidiary of Mövenpick Holding, to form a new coffee joint venture (JV) Swire MP Foods in Hong Kong.Swire Foods will own 60% stake in the joint venture, while the remainder 40% will be owned by Mövenpick Foods.
The new company plans to market Mövenpick coffee including roast & ground coffee, coffee beans, freeze instant dry coffee and 3-in-1 coffee in its original Swiss recipe to retail and food service channels in Hong Kong and Mainland China in 2014.
Mövenpick Holding CEO Guido Egli said that Mainland China and Hong Kong play an important role in the Mövenpick group's growth strategy.
"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," added Egli.
Mövenpick is planning to bolster its presence in Hong Kong and the Mainland with its premium-quality coffee.
