Local "Kiss Me" candy maker to start selling in Thailand

NST Wed, Aug 23, 2023 03:49pm - 9 months View Original

KUALA LUMPUR: Kiss Me brand candymaker Khee San Food Industries Sdn Bhd has signed a strategic cooperation agreement with Wellspire Global Trading, a distributor of consumer packaged foods company, to distribute and sell its Fruit Plus and Kiss Me candies in Thailand.

Khee San Food Industries is a unit of Main market-listed Khee San Bhd, while Wellspire Global is a unit of ACE market-listed Wellspire Holdings Bhd. 

The agreement is valid from August 23, 2023 to August 22, 2026 for a period of three years.

According to Statista, the revenue value of Thailand's snack food market has exceeded US$1 billion in 2023, and is projected to witness a CAGR of 7.16 per centduring the period of 2023-2028, growing from US$1.07 billion in 2023, to over US$1.54 billion by 2028.

Khee San currently exports to over 20 countries, with major destinations: Hong Kong, Vietnam, Japan, South Africa and other Asia Pacific countries.

Wellspire in a separate announcement said the agreement is part of itis strategy to draw on Wellspire's group's strength in distributing consumer packaged foods and its objectives to diversify its portfolio as well as broaden Wellspire group's revenue stream.

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