NRF adjusting business, and changing strategy to support future growth

10 January 2023

NR Instant Produce Public Company Limited (NRF) is a leading global manufacturer of sustainably produced foods and operates as a manufacturer and distributer of food seasonings, ready-to-cook foods, ready-to-eat foods and beverages, and plant-based proteins with products ranging over 2,000 SKUs and 500 recipes.

NRF was one of the first manufacturers to receive a certification for food manufacturing quality from the British Retail Consortium (BRC) and has also passed many quality inspections from regulators such as IFS Food, GMP and the FDA. Moreover, NRF distributes products to more than 30 countries around the world, such as the United States of America and many European countries.

In 2017, Mr. Dan Pathomvanich acquired the Company, and set a policy to make the Company become a leading manufacturer of future foods and investor in food innovations to create a sustainable food ecosystem. This October is the two-year anniversary of NRF being a public company and the company has adjusted its business strategy to 3 main businesses that all fall under the purpose of making food that regenerates the planet.

Business Group 1: Specialty foods; This business group emphasizes diverse product offerings. The Company offers food products under NRF’s brand that have unique flavors that are according to the consumer’s taste for traditional flavors such as those under the Por Kwan brand and for modern flavors and packaging, such as those under the brands Thai Delight and Sabzu with quality raw materials and production processes that meet international standard. Botany Petcare will focus on plant-based pet food products and market its product under its own brand and become an original equipment manufacturer (OEM) for exports to countries in ASEAN and beyond. Botany Petcare started production in August 2022 following production standards from the Department of Livestock Development.

Business Group 2: E-commerce and Food tech; NRF seeks to increase the Company’s product on online channels due to dramatic changes in consumer behavior after the Covid epidemic. Furthermore, NRF saw opportunities to expand our products through investments in businesses that are popular with online consumers. NRF has acquired Intellectual Prime Labs, WellPath, and SOL Trading which are best selling products on Amazon. Moreover, in Thailand NRF is collaborating with Winnergy Medical Public Company Limited as a strategic partner to be a distributor of products to leading online platforms in Thailand to support the growth of in demand products in an Aging Society.

Business Group 3: Climate Action Food Group: Food transformation; NRF aims to develop food businesses that reduce emissions as the vision of the company is to be a Clean Food Tech Company. This means that NRF will invest and develop into novel food industries that are a part of the fight against climate change such as plant-based foods. NRF has assigned Nove foods, a wholly owned plant-based food subsidiary, to enter a joint venture with Innobic (Asia) in order to launch “alt. Eatery” a plant-based restaurant, café and Mini supermarket at Sukhumvit road. In addition, following the mutual commitment of these two companies to fight climate change, the construction of a jointly invested factory to produce plant-based meat at a capacity of 3000 tons per year is continuing as planned. Moreover, NRF has signed a Moratorium of Understanding (MOU) with PTTOR to further expand the presence of “alt. Eatery”’ in Thailand in 2023.

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