Hoofddorp (The Netherlands) – Barentz International announced that it has established a joint venture with Future Way Holding in Iran. This new distribution company will focus on distributing ingredients in in the Food & Nutrition, Pharmaceuticals and Animal Nutrition industries in Iran and the Middle East region.
Barentz calls this acquisition in Iran a logical step in the strong expansion of Barentz outside Europe. With 80 million consumers in the country and 400 million in the surrounding export area, Iran is a highly interesting market for industrial ingredients. Fuelled by the open attitude towards new food & personal care products of the large young Middle Eastern population, it is expected that the packaged goods market will show considerable volume growth over the next years.
Mr. Hidde van der Wal, CEO of Barentz International explains: “This acquisition is a great first milestone in our continued expansion plan for 2016. We have a positive outlook on the development of the industrial ingredients market in Iran, and moving into that market with a well-established family company like Future Way Holding was part of our strategic plans. The synergy of our cooperation lies with Future Way’s traditional Persian way of doing business, combined with our knowledge of and access to high quality ingredients of our renowned suppliers, which will help local Iranian producers to increase the quality of their products and will enable them to grow their local business.”
For Barentz International this joint venture is strategically important, with the well-educated Iranian consumer looking to buy established, good quality international brands for their food & beverage, pharmaceutical and animal nutrition products. Being present in the Middle East fills the geographical gap between the Barentz presence in Europe and in the Asia Pacific region.