ABP has secured an exclusive three-year agreement valued at €50 million, with Asian restaurant chain Wowprime Corporation, to supply beef to its restaurants across China. The announcement was made today at an event hosted by the company in Shanghai, attended by the Minister for Agriculture, Food and the Marine, Michael Creed TD; Mr Stanley Lin, General Manager of Wowprime China and Mark Goodman, Managing Director of ABP’s International Division.
Wowprime is a publically listed company and has 151 restaurants in China. It offers customers a mix of traditional Asian and Western cuisine across 18 restaurant brands. ABP beef will be available in two of Wowprime’s premium restaurant brands: Wang Steak and Tasty.
Michael Creed TD, the Minister for Agriculture, Food and the Marine said: “I am genuinely delighted to be present today to mark the announcement of this ground-breaking deal between ABP Food Group and Wowprime. I hope it will be the first of many such transactions for Irish companies. Partnering with large Chinese restaurant companies such as Wowprime is the ideal manner to bring quality Irish beef to Chinese consumers. I commend Wowprime and wish them and ABP every deserved success in this venture."
Mr Stanley Lin, Managing Director of Wowprime China said: “We have been delighted to partner with ABP who have made the strongest case for the merits of Irish beef, which is sustainable, fully traceable to the farm of origin and hormone free. Combined with its high quality and great taste, we have no doubt these qualities will be a winner with our customers throughout China. We look forward to building our relationship with ABP Food Group in the years ahead.”
A ‘tangible endorsement’
Mark Goodman, Managing Director of ABP’s International Division said: “ABP Food Group is delighted to sign this initial and exclusive agreement with Wowprime. It is a tangible endorsement of the quality beef that Ireland and ABP have to offer, and it is another significant step in developing new market opportunities for our products against the uncertain backdrop of Brexit. We look forward to working with Wowprime, who are crucial in helping us bring Irish beef to the plates of Chinese consumers.”
Earlier this year, ABP Food Group extended its range of premium “Irish Nature Organic” striploin, ribeye and T-bone steaks with YATA, a Hong Kong-based supermarket chain. The high-quality beef products are now available in all of the retailer’s 10 stores in the prefecture. The company also exports Irish beef to the Philippines and Japan.
Wowprime has also agreed to extend the arrangement to include ABP’s UK operations, in the event of the UK gaining market access to China.