ABP Food Group has secured a deal to the estimated value of €50million to supply Irish beef to Chinese restaurants.
The three-year agreement is with Wowprime Corporation, a company with over 400 restaurants in both China and Taiwan. The agreement is dependent on Irish beef gaining access to the Chinese market.
Speaking following the announcement, 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 ABP has to offer, and it is another significant step in developing new market opportunities for our products against the uncertain backdrop of Brexit.”
Over the past 7 years, ABP Food Group has been assessing the Asian markets. To highlight its commitment, the company appointed a Business Development Manager for the region in 2012, which has helped the company explore the potential of the market and to work closely with Bord Bia and other state agencies in assessing potential opportunities. Last month, ABP extended its range of premium “Irish Nature Organic” striploin, ribeye and T-bone steaks with YATA, the Hong Kong-based supermarket chain. The high-quality beef products are now available in all of the retailer’s 10 stores in the prefecture. In Asia, the company also exports Irish beef to the Philippines and Japan.