Danish fruit drinks company CO-RO A/S is making its foray into the Bangladesh market through its joint venture ACI CO-RO Bangladesh Ltd. The joint venture, in which ACI holds a 49.9% stake, is set to officially commence operations at its Narayanganj factory next month. CO-RO A/S, renowned for brands like Sunquick, Suntop, Sun Lolly, and Suncola, has a global presence in 80 countries, particularly in Asia, and the collaboration aims to capitalize on Bangladesh's rapidly growing fruit drink segment.
ACI CO-RO Bangladesh Ltd is set to introduce the Sunquick brand in Bangladesh, producing fruit drinks with a minimum of 10% pulp and no preservatives. The joint venture positions CO-RO A/S alongside local player ACI, leveraging ACI's leading position in the food industry. Bangladesh, being one of the world's fastest-growing markets in the fruit drink segment, provides a strategic opportunity for the joint venture, with competitors in the market including Akij, Pran, Abul Khair Group, ACME, and Shezan. The move aligns with CO-RO A/S's international expansion strategy, bringing its renowned brands to a new market and catering to the preferences of Bangladesh's population exceeding 171 million.
(Image: acicoro.com)
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Bangladesh