January 26 2016, David R Brown
Barentz International establishes a joint venture in Iran to accelerate growth in the Middle East
Leading multinational ingredients distributor, Barentz International have established a joint venture with Future Way Holding in Iran. This new distribution company will focus on distributing ingredients in in the Food & Nutrition, Pharmaceuticals and Animal Nutrition industries in Iran and the Middle East region. A presence in the Middle East fills the geographical gap between Barentz' operations in Europe and in the Asia Pacific region.
This acquisition is a great first milestone in our continued expansion plan for 2016
Hidde van der Wal
CEO of Barentz International
Future Way Holding Co. PJS is a privately held company owned by the Sabetian family specializing in trading agricultural and food products, steel products and other raw materials on an international scale with 10 companies registered in North America, Europe as well as in the Middle East.
With 80 million consumers in the country and 400 million in the surrounding export area, Barentz believe Iran is an interesting market for industrial ingredients. The Middle East has a young demographic with an open attitude towards new food & personal care products which is expected to fuel considerable volume growth in these markets over the next years.
Mr. Hidde van der Wal, CEO of Barentz International explains: “This acquisition is a great first milestone in our continued expansion plan for 2016. We have a positive outlook on the development of the industrial ingredients market in Iran, and moving into that market with a well-established family company like Future Way Holding was part of our strategic plans. The synergy of our cooperation lies with Future Way’s traditional Persian way of doing business, combined with our knowledge of and access to high quality ingredients of our renowned suppliers.”
Mr. Ali Sabetian, CEO of Future Way Holding, explains: “Working together with a reputable company like Barentz, with their expertise of food and pharmaceutical applications and access to ingredients from reputable suppliers from around the world, is a real advantage for our customers. Although the consumption pattern of food products in Iran is still quite traditional, we observe a continuing trend of especially younger people wanting to buy established international brands. We expect these brands to move into our markets gradually, with a long-term aim.”
The newly established joint venture company will operate under the legal entity Barentz Middle East.
About Barentz International
The Barentz group is a leading provider of ingredients for the food & nutrition, pharmaceutical, personal care and animal nutrition industries. With a strong focus on the European market, Barentz is also growing fast in the Asia Pacific region and in North America. The privately owned, The Netherlands based, Barentz group generated a turnover of EUR 810 million in 2014, serving customers in 50 countries and employing around 700 people.
Source(s): Barentz Press Release
Further Information
Visit: http://www.barentz.com