Monde Nissin Corporation
Monde Nissin
FormerlyMonde Denmark Nissin Biscuit Corporation (1979–1999)
Type
PSE: MONDE
IndustryFood processing
FoundedMay 23, 1979 (1979-05-23)
FounderHidayat Darmono
HeadquartersFelix Reyes St., Brgy. Balibago,
Santa Rosa, Laguna
,
Philippines[1]
Area served
Worldwide
Key people
  • Hartono Kweefanus (Chairman Emeritus)
  • Kataline Darmono (Chairperson of the Board)
  • Betty Ang (President)
  • Henry Soesanto (CEO, Executive Vice President and Director)
[2]
Products
RevenueIncrease ₱75.90 billion (2023)
Increase ₱152.91 billion (2023)
Decrease ₱−13.78 billion (2022)
Total assetsIncrease ₱82.46 billion (2023)
Total equityIncrease ₱8.51 billion (2023)
Number of employees
3,500 (2023)
DivisionsMonde Nissin International
Subsidiaries
  • Marlow Foods Limited
  • Menora Foods
  • Monde Nissin Australia Pty. Ltd.
  • Monde Nissin New Zealand Ltd.
  • Monde Nissin Singapore Pte. Ltd.
  • Monde Nissin Thailand Co., Ltd.
  • Monde M.Y. San Corporation
  • Monde Malee Beverages Corporation
  • Poseidon Tarama
  • Sarimonde Foods Corporation
Websitewww.mondenissin.com

Monde Nissin Corporation is a Philippine food and beverage company with a portfolio of brands across instant noodles, biscuits, baked goods, culinary aids and alternative meat products categories, including Lucky Me!, SkyFlakes, Fita, M.Y. San Grahams and Nissin. Monde Nissin also sells its alternative meat products globally under Quorn Foods and the Quorn brand.[3]

Since 2000, Monde Nissin has been consistently included in the top 50 corporations in the Philippines based on gross revenues.[4]

On March 4, 2021, Monde Nissin filed for registration application with the Philippine Securities and Exchange Commission for an initial public offering of its common shares.[5]

History

The company was founded by Hidayat Darmono, patriarch of the Kweefanus family, as Monde Denmark Nissin Biscuit Corporation and launched its first products Nissin Butter Coconut Biscuits and Nissin Wafers on May 23, 1979.[3][6] The company launched Lucky Me! in 1989. In 2015, Monde Nissin acquired Quorn for £550 million, in what was the third largest overseas purchase by a firm in the Southeast Asian nation at the time of the transaction. In 2019, Monde Nissin also invested in NAMZ Pte. Ltd., a food science company in Singapore that redesigns food, beverage, and personal care products.[7]

By 2020, according to Nielsen, Monde Nissin ranked first in retail sales value in the Philippines in instant noodles and biscuits, as well as oyster sauce and yogurt drinks.[8] In 2020, Monde Nissin's instant noodles, biscuits, yogurt drinks and oyster sauce constituted 68%, 30.5%, 73.2% and 56% of retail sales market share in the Philippines, respectively.[8]

Flagship brands contributing to this market leading position included Lucky Me! for instant noodles, SkyFlakes, Fita, Nissin and M.Y. San Grahams for biscuits, Mama Sita's for culinary aids and Dutch Mill for yogurt drinks.[8] By 2020, Quorn Foods also became the market leader in the meat alternatives market in the U.K. with Quorn being the number 1 brand with 28% grocery retail market share by value in 2020, as set out in the OC&C report.[9]

In 2021, the company went public and became listed on the Philippine Stock Exchange.[10]

Leadership in the instant noodles segment

In 1989, Monde Nissin ventured into the instant noodles segment with launch of Lucky Me!. It also launched Lucky Me! Instant Mami, noodles with soup in pouches, in Beef and Chicken variants.

The launch of Lucky Me! Pancit Canton, in 1991 the first dry stir-fry pouched noodles in the Philippine market also created a brand new category worth over ₽10 billion in 2020.[8] In 1995, Lucky Me! Supreme in La Paz Batchoy flavor was launched as the first Filipino dish-flavored no-cook cup noodles.

In 2009, Lucky Me! Special was introduced, which consists of noodles with local and international flavors such as Lomi (egg noodles in seafood flavor), Jjamppong (spicy Korean noodles), Curly Spaghetti, Baked Mac, and Mac & Cheez.

In 2014, Kantar Worldpanel, in its Brand Footprint Report, cited Lucky Me! as the most chosen and purchased consumer brand in the Philippines, reaching almost all Filipino households.[11]

Growth of the biscuit segment

In 2001, the company acquired M.Y. San Biscuit, Inc., manufacturer of SkyFlakes, Fita, and M.Y. San Grahams.[12] After the acquisition by Monde Nissin, M.Y. San Biscuit, Inc. changed its name to Monde M.Y. San Corporation.[12]

Several cookies and snack products were also launched, namely Eggnog Cookies, Bread Stix, and Bingo Cookie Sandwich.

In 2005, Voice Combo Sandwich was launched as the first cracker and wafer combo biscuit in the Philippines.

In 2014, Voice Pops was launched as the first cream sandwich with popping candies.

Expansion of product portfolio

In 2006, Monde Nissin entered into distribution agreements with Dutch Mill Co. Ltd. and Dairy Plus Thailand, respectively, under which Monde Nissin became the exclusive distributor of Dutch Mill cultured milk and yogurt products, respectively, in the Philippines. In 2010, Monde Nissin expanded its partnership with Dutch Mill Co. Ltd. to include marketing by Monde Nissin of Dutch Mill products. In 2016, Monde Nissin formed a partnership with Dutch Mill Co., Ltd. for the distribution of Dutch Mill cultured milk.[8][13]

Additionally in 2010, Monde Nissin entered the culinary solutions market with the introduction of Lucky Me! NamNam All-3-in-1 Seasoning. Its portfolio of culinary aids expanded further with the launch of Lucky Me! NamNam Tomato seasoning in 2013, the first seasoning in the local market with the taste of real tomatoes.

In August 2011, Monde was launched as the first premium-quality packaged baked products line. It initially offered Monde Special Mamon, the first premium-quality baked sponge cake in the Philippines. This was followed by the introduction of Monde Special Cream Puff, Belgian Waffle, and Crispy Waffle.

In 2014, Monde Nissin also became exclusive marketing and distribution arm of Sandpiper Spices and Condiments Corp. for Mama Sita's products, such as sauces, mixes, condiments, meal kits, and coolers.

Monde Nissin continued to expand by entering into a joint venture deal in 2016 with Nippon Indosari, Indonesia's largest bread products producer, to create Sarimonde Foods Corporation, which started its operations in the Philippines in 2017.[14]

Monde Nissin also formed a joint venture called Monde Malee Beverages Corporation in 2017 with Malee Beverage Public Co. Ltd., a leading juice and canned fruit manufacturer in Thailand, and became the exclusive distributor of Malee branded beverage products in the Philippines.[15]

Subsidiaries and partnerships

Apart from developing homegrown brands, Monde Nissin led acquisitions and forged business partnerships, leading to the diversification of its product lines and extended reach in the international market.

Philippines

In 2001, M.Y. San Biscuit, Inc. was acquired by Monde Nissin and renamed Monde M.Y. San Corporation.

In 2014, the company became the exclusive marketing and distribution arm of Marigold Manufacturing Corporation for Mama Sita's products.

In January 2023, the company acquired a 15% stake in The Figaro Coffee Group, parent company of Figaro Coffee, Angel's Pizza and Tien Ma Taiwanese restaurant. The investment marks the company's entry into the foodservice sector.[16]

Thailand

In 2004, Monde Nissin began its expansion in the international manufacturing market through the establishment of another subsidiary, Monde Nissin Thailand.

In 2006, Monde Nissin partnered with Dairy Plus Thailand to distribute Dutch Mill Yoghurt Drink to the Philippines. Four years later, the company took over the local marketing of the brand.

Australia

In 2015, Monde Nissin acquired Menora Foods, a family-owned Australian food company, its third acquisition in Australia, having previously acquired the Black Swan and Nudie Juice brands.[17][5]

United Kingdom

In 2015, it bought Quorn for £550m. Quorn Foods is the market leader in the meat alternatives market in the United Kingdom.[18]

Indonesia

Monde Nissin formed a joint venture with Nippon Indosari, Indonesia's largest bread products maker, in 2016 to form Sarimonde Foods Corporation. According to the company, Sarimonde recently acquired Walter Bread, a Filipino brand known for its nutritious and creative bread products, as its first big step in the packaged bread industry. Its portfolio includes Walter Sugar-Free Bread and Walter Double Fiber Wheat Bread, both of which are industry firsts.[5]

Japan

The company also announced a collaboration with Japanese retailer Uniqlo to launch men's and women's shirts featuring Monde Nissin brands such as Lucky Me!, the Philippines' leading instant noodles brand, and Bingo Cookie Sandwich, a popular snack among teenagers.[5]

Brands

Advocacy

In 2007, Monde Nissin, under Lucky Me!, launched Kainang Pamilya Mahalaga (Family Mealtime Matters) advocacy. It focuses on the promotion of frequent family meals together as a way to strengthen the foundations of the Filipino family. The advocacy was supported by Presidential Proclamation 326 dated January 2012, which declared every 4th Monday of September to be Kainang Pamilya Mahalaga day.[19]

Controversy

Health authorities in Malta, Ireland, France, and other countries have issued warnings for the consumptions of the export variants of different Lucky Me noodles due to containing high amounts of Ethylene Oxide.[20] The Food and Drug Administration in the Philippines have now investigated on this matter. Monde Nissin also lost $350 million in market value due to the warnings with the stock sinking more than 10%.[21] Then, it was later confirmed that the contaminated batches of Lucky Me products are only affecting export versions (which are made in Thailand) and not the local versions (which are made in the Philippines). The local batches of Lucky Me meet the EU acceptable level of 0.02 mg/kg or below.[22]

See also

References

  1. ↑ "MONDE NISSIN CORPORATION - Philippine Association of National Advertisers - PANA Website".
  2. ↑ "Monde Nissin Our Company". Monde Nissin. April 9, 2021.
  3. 1 2 "Monde Nissin seeks 63b pesos in Philippines' biggest IPO". Business Times (Singapore). March 4, 2021.
  4. ↑ "Top 100 corporations: Only 39 are on BIR taxpayers list". Rappler. March 20, 2014. Retrieved October 2, 2015.
  5. 1 2 3 4 Gonzales, Iris (March 5, 2021). "Monde Nissin files record P63 billion IPO". The Philippine Star. Retrieved March 6, 2021.
  6. ↑ Forbes What We Know About One Of Asia's Most Mysterious Tycoons: Betty Ang Of The Philippines
  7. ↑ "Philippines' Monde Nissin buying UK meat substitute firm Quorn for $831 mln". Reuters. October 1, 2015.
  8. 1 2 3 4 5 "Monde Nissin files record P63 billion IPO". The Philippine Star. March 5, 2021.
  9. ↑ "SEC clears Monde Nissin's IPO". Philippine News Agency. April 20, 2021.
  10. ↑ "Monde Nissin makes PSE debut after completing PH's largest public offering". CNN Philippines. June 1, 2021. Retrieved October 28, 2023.
  11. ↑ "Lucky Me, is the Most Chosen Brand in the Philippines, Kantar Worldpanel Brand Footprint Reveals | Philippine Association of National Advertisers – PANA Website". Pana.com.ph. September 15, 2013. Retrieved October 2, 2015.
  12. 1 2 "Monde M.Y. San Corporation". Mysan.com.ph. Retrieved October 2, 2015.
  13. ↑ "Kainang Pamilya Mahalaga Day set on September 24". GMA News Online. September 22, 2012.
  14. ↑ "Nippon Indosari Creates Joint Venture with Monde Nissin Corporation". Indonesia Investments. February 24, 2016.
  15. ↑ "Thai beverages firm Malee acquires 65% stake in Vietnam's Long Quan Safe Food". DealStreetAsia. January 24, 2018.
  16. ↑ Gonzales, Iris (January 27, 2023). "Monde Nissin acquires 15% stake in Figaro". The Philippine Star. Retrieved February 19, 2023.
  17. ↑ Sue Mitchell (March 13, 2015). "Monde Nissin takes Peckish, Nudie and Black Swan to Philippines". Australian Financial Review. Retrieved March 13, 2023.
  18. ↑ "Quorn Foods meat substitute firm sold for £550m - BBC News". Bbc.co.uk. April 24, 2014. Retrieved October 2, 2015.
  19. ↑ "Kainang Pamilya Mahalaga". Kainang Pamilya Mahalaga. Retrieved October 2, 2015.
  20. ↑ Fernandez, Daniza (July 7, 2022). "FDA probes popular Filipino noodle brand for 'high level of ethylene oxide'". Inquirer.net. Retrieved July 10, 2022.
  21. ↑ Sayson, Ian (July 7, 2022). "Monde Nissin Posts Record Drop as Lucky Me! Faces Recalls". Bloomberg. Retrieved July 10, 2022.
  22. ↑ "FDA Advisory No.2022-1293 || UPDATES ON ETHYLENE OXIDE IN LUCKY ME! INSTANT NOODLES - Food and Drug Administration". July 15, 2022. Retrieved November 25, 2022.
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