Barentz Pakistan enters into a Joint Venture with Matco Foods in Pakistan
Barentz international B.V. and Matco Foods Limited officially announce the start of a new Joint Venture in Pakistan, following agreement between both parties.
The aim of the new activity is to better serve the rapidly growing Pakistani food processing market with a target group of 200 million citizens.
• Matco Foods has built up an extended network within the Pakistan local food industry
• Barentz International offers the broadest high-quality ingredients portfolio within the global life science markets
• Barentz Pakistan will primarily focus on the markets for Human Nutrition and Pharmaceutical products
Hidde van der Wal, CEO of Barentz, says: ‘We already had a good partnership with Matco Foods and we both see complementary business opportunities in the local Pakistan market. Pakistan has a fast-growing economy with a good variety of multinational and local food manufacturers. Our broad ingredients portfolio in combination with Matco Foods’ strong local network will certainly add value to the local life science markets, starting with Human Nutrition and Pharmaceuticals.’
Khalid Ghori, CEO of Matco Foods, adds: ‘In our relationship with Barentz we share the same family-business background; our knowledge-rooted sense for business and entrepreneurship. We have invested in processing facilities to produce ingredients such as rice glucose syrup, rice proteins and maltodextrin. Through these activities, we have an excellent insight into and an extended network with the local food industry. We are proud to have set up this joint venture with Barentz and to further explore their strong global ingredient portfolio.’
Barentz Pakistan, with Barentz as majority stakeholder, operates from Karachi.
About Matco Foods
Matco Foods is a leading agribusiness in South Asia, with over 50 years’ experience in the rice industry and a global portfolio of more than 150 corporate customers. It is the only agro processing company in Pakistan in which the International Finance Corporation (IFC) (World Bank Group) has invested equity. Matco exports to over 60 countries around the globe from its 4 rice processing plants and one rice glucose plant situated in Sindh and Punjab, Pakistan.
For more information, please visit: www.matcofoods.com
Barentz is a global specialty ingredients distributor for the human nutrition, pharmaceutical, personal care and animal nutrition markets. Headquartered in the Netherlands, Barentz distributes ingredients and additives for products to small and medium-sized enterprises (‘SMEs’) and large customers globally. The Group sources branded specialty ingredients from leading manufacturers worldwide and its ingredients experts provide value-added technical support (including pre-mixing, blending, ingredient formulation and ingredient testing) from its state-of-the-art production facilities in Europe, North America and Asia.
Established in 1953, Barentz has operations in more than 60 countries with a strong presence in Europe and Asia, and a growing presence in North America and Latin America. Today, the Group employs circa 1,100 people worldwide, sources ingredients from more than 1,000 suppliers and serves more than 15,000 customers.
For more information, please visit: www.barentz.com.