Japan’s Nissin Foods Holdings is enhancing its presence in the food and beverage industry by gaining control of its instant-noodle joint venture in the Philippines. The Tokyo-based creator of Cup Noodles has reached an agreement to purchase an additional 21% stake from its local partner, Universal Robina Corp. (URC).
Once this acquisition is finalized, Nissin’s ownership will increase to 70%, while URC’s share will decrease to 30%. This strategic move reflects Nissin’s commitment to expanding in Southeast Asia, a region identified as a “promising” market for growth.
Nissin stated, “As part of our ‘mid- to long-term growth strategy 2030’ announced in May 2021, we set a target to achieve circa 45% of our core operating profit from overseas businesses.” Such objectives highlight the company’s dedication to navigating food and drink consumer trends on an international scale.
In a related statement to the Philippine Stock Exchange, URC mentioned that it is “refining” the partnership with Nissin to “further accelerate NURC’s development.” This deal is poised to empower Nissin to take on an “enhanced leadership role” in product innovation and brand building within the instant noodle sector.
URC will maintain its role as the local partner and will continue to manage daily operations. However, specific transaction details, including the acquisition price, were not disclosed.
Additionally, in October, Nissin announced initiatives to establish a subsidiary in Türkiye, expanding its footprint in the food and drink business. This plan involves acquiring a factory in Sakarya province from Oba Makarnacılık Sanayi ve Ticaret, along with relevant production equipment and assets. Nissin emphasized that this initiative marks the company’s “strategic re-entry” into Türkiye, where “growth opportunities are robust.”
This acquisition and expansion clearly align with the ongoing trends in the food and beverage industry, emphasizing Nissin’s proactive approach to capture market opportunities in diverse regions. By focusing on international growth, the company aims to solidify its position in the global food landscape.