Ingredients distributor Barentz has formed a joint venture with agribusiness Matco Foods, as it targets growth in Pakistan.
Located in Pakistan, Matco Foods exports to over 60 countries around the globe from its four rice processing plants and one rice glucose plant.
According to Dutch-based Barentz, the new joint venture will better serve the rapidly growing Pakistani food processing market and will focus initially on human nutrition and pharmaceutical products.
The collaboration will utilise Matco Foods’ extended network within the local Pakistan food industry combined with Barentz’ broad ingredients portfolio.
Hidde van der Wal, CEO of Barentz, said: ‘We already had a good partnership with Matco Foods and we both see complementary business opportunities in the local Pakistan market.
“Pakistan has a fast-growing economy with a good variety of multinational and local food manufacturers. Our broad ingredients portfolio in combination with Matco Foods’ strong local network will certainly add value to the local life science markets, starting with human nutrition and pharmaceuticals.”
Khalid Ghori, CEO of Matco Foods, added: “We have invested in processing facilities to produce ingredients such as rice glucose syrup, rice proteins and maltodextrin. Through these activities, we have an excellent insight into and an extended network with the local food industry. We are proud to have set up this joint venture with Barentz and to further explore their strong global ingredient portfolio.”
Established in 1953, Barentz has operations in more than 60 countries with a strong presence in Europe and Asia.
Last year, the firm formed a joint venture with South Africa-headquartered raw materials supplier SK Chemtrade Services and Dutch ingredients company TasteStrik.
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