Food Empire Holdings eyes central Asia with Kazakhstan coffee factory
The company has secured financial backing from the European Bank for Reconstruction and Development for the site, which is being built in Khorgos, close to the border with China. The facility will make coffee for retail and foodservice customers, including products sold under the MacCoffee brand.
The site will be Food Empire Holdings' first for coffee products in Kazakhstan, where it also has a tea factory after acquiring local business Tea House last year.
Sudeep Nair, Food Empire Holdings' CEO, told Investment Monitor there is 'strong market potential' for coffee in Kazakhstan and said the site would supply neighbouring markets.
'Kazakhstan has a high proportion of middle-income earners and is one of the fastest-growing economies in Central Asia, offering strong market potential. The region's coffee culture is rising as more consumers adopt instant coffee and premium instant beverage options for convenience amidst increasingly busy lifestyles,' Nair said.
'Ultimately, the new facility will enable us to serve the region including market such as Uzbekistan, Azerbaijan, Turkmenistan, Tajikistan, and Georgia, more efficiently.'
Food Empire Holdings is spending $30m on the factory, which is expected to be operational next year. The EBRD has put up a $10m loan.
Nair said the company also wanted to 'address the logistical challenges of central Asia', a region he described as having 'inconsistent cross-border cooperation'.
He added: 'Over the years, we have built strong partnerships with reliable logistics providers and harnessed digital tools to optimise our supply chain. Additionally, the new facility's strategic location near China allows us to efficiently source and import raw materials.'
Food Empire Holdings has four other coffee-mix production facilities, which are located in Malaysia, Ukraine, Vietnam and Russia. The company is lining up another coffee factory in Vietnam, which it hopes to be up and running in 2028.
The company, which also manufactures snacks, generated revenue of $476.3m in 2024, up 11.9% on a year earlier. Food Empire Holdings' revenue across its Ukraine, Kazakhstan and CIS business unit grew 12.6% to $124.7m.
Russia remains the group's largest geographic unit. In 2024, Food Empire Holdings took in sales of $141.7m in Russia, down 1.1% year on year.
The company's net profit after tax fell 6.4% to $52.9m amid pressure from the high coffee prices seen last year.
"Food Empire Holdings eyes central Asia with Kazakhstan coffee factory" was originally created and published by Investment Monitor, a GlobalData owned brand.
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