Danish fruit drinks firm eyes slice of Bangladesh market
Danish fruit drinks firm CO-RO A/S is going to launch its new brand in Bangladesh to enhance their global footprint and grab a slice of the country's market.
Against this backdrop, ACI CO-RO Bangladesh Ltd -- a joint venture between Bangladeshi conglomerate ACI and the Danish fruit drink giant -- is set to officially begin operations at its factory in Bangladesh, preparing fruit drinks with at least 10 percent pulp and no preservatives.
The launch of Sunquick is set to revolutionise the fruit drink market in Bangladesh, said an official of ACI CO-RO Bangladesh Ltd.
ACI holds 49.9 percent shares of ACI CO-RO Bangladesh Ltd and has so far invested around Tk 50 crore.
The inauguration programme at their factory in Narayanganj will be held next month.
ACI CO-RO Bangladesh Ltd was founded as a greenfield investment in 2019 to bring refreshments to Bangladeshi consumers through an offering of fruit drinks under CO-RO's brand and quality umbrella, the official said.
CO-RO A/S has operations in 80 countries and is a market leader in several Asian countries.
Danish brothers Flemming and Jep Petersen founded CO-RO in 1942 in a small kitchen outside Copenhagen. All these years later, their head office and product development are still located in Denmark.
Their major brands include Sunquick, Suntop, Sun Lolly, and Suncola. Together with local partners, they provide more than 3.5 billion servings of high-quality fruit-based beverages and ice lollies every year, according to their website.
"We have been active in many parts of the world since the 1960s, when the company first ventured outside Europe. Since then, we have been a truly international company with strong market positions across the Middle East, Asia, Europe and Africa," according to the company's website.
"With CO-RO A/S as a leading international beverage company and ACI as a leading local player in the food industry, we are a perfect match. Through our newly formed joint venture company, ACI CO-RO, we will gain access to the fast-growing market in Bangladesh, whilst continuing to expand and balance CO-RO's growing international footprint," the official of ACI CO-RO said.
"Together we will launch the Sunquick brand in Bangladesh, to be locally produced at our brand-new greenfield factory in Bangladesh," they added.
Bangladesh, with a population of over 171 million, is among the world's five-fastest growing countries in the fruit drink segment, according to industry people.
Akij, Pran, Abul Khair Group, ACME, and Shezan are the top players in the market.
"Bangladesh is three times larger than Denmark in terms of landmass, but with an extremely high population density and easy access to market coverage," the official said.