Australian food giant SPC Global Holdings (ASX: SPG) has taken a significant step in expanding its footprint across Asia by signing a 10-year, $250 million exclusivity agreement with Mannings, the leading health and beauty retail chain in Hong Kong.
The agreement, brokered with Mannings’ parent company, DFI Retail Group, will bring Nature One Dairy products to over 320 Mannings outlets in Hong Kong and Macau, with additional access to 120 locations in mainland China.
“This is a milestone moment for our powdered milk division and for our broader international strategy,” said Nick Dimopoulos, CEO of Nature One Dairy. “We’re thrilled to partner with a trusted retailer like Mannings, and this agreement sets the stage for supplying more high-quality products across their expansive network.”
The deal underscores SPC Global’s ambition to strengthen its presence in the lucrative Asian market. DFI Retail Group operates nearly 11,000 outlets across Southeast Asia, employs approximately 200,000 people, and generates over $40 billion in annual revenue.
The partnership aligns with Nature One Dairy’s growth strategy, which has focused on high-demand products such as powdered milk. Dimopoulos emphasized the long-term potential of the collaboration, adding, “This partnership not only solidifies our market position but also paves the way for mutual growth and innovation in the years ahead.”
This landmark deal follows a year of significant transformation for SPC Global, driven by its merger with The Original Juice Company and Nature One Dairy. The merger has bolstered the company’s product portfolio and international capabilities, allowing it to pursue large-scale opportunities in high-growth markets.
The agreement with Mannings will enable SPC Global to leverage DFI Retail Group’s extensive retail network, positioning the company to tap into growing consumer demand for high-quality dairy products across Asia.
With a strong retail presence and a growing customer base, the partnership is expected to further enhance SPC Global’s brand recognition and drive revenue growth, cementing its status as a key player in the region’s dairy market.