Berjaya Corp acquires 60% stake in JannaFarm
O Group has been refocusing on smaller businesses that are doing well as part of its transformation plan
KUALA LUMPUR: Berjaya Corp Bhd (BCorp) wholly owned subsidiary Country Farms Sdn Bhd has acquired 60% equity in JannaFarm Sdn Bhd (JF) and will distribute JF’s products via distribution pipelines under BCorp subsidiaries.
BCorp group CEO Abdul Jalil Abdul Rasheed said the group, which is in the process of transformation, had been refocusing on smaller group businesses that are doing well.
“The key here is to be able to invest and partner with companies that have the knowhow rather than us trying to do everything ourselves. It makes more sense to team up with JannaFarm that has the expertise and this is a nice synergistic partnership in terms of support, distribution, and network.
“What we are trying to do, is to grow homegrown brands. Whenever Berjaya is mentioned, people think of Starbucks. I wish people would talk about JF in the same way as other bigger brands under the group,“he said after the memorandum of understanding signing ceremony.
JF chairman and former Felda directorgeneral Datuk Dr Othman Omar said black ginger products have become popular as consumers are becoming more healthconscious and prefer naturally and organically-produced food and beverages.
“Consumers opt for (black ginger) to improve their immune system to protect themselves against Covid-19 and other viral infections. We expect to launch 10 new products (by second quarter next year) to enter the local and global retail market, for example, direct consumption sachet, black ginger soap, black ginger scrub, canned drinks, and others,“he said.
Country Farms managing director and CEO Louis Kho said the acquisition of JF would provide Country Farms with a portfolio of local agro-based products to add to its wellness category and a vertical expansion to higher up the value chain.
“We will continue to research and develop the black ginger and other local phytogenic treasures with proven benefits to health to be offered to consumers as natural supplements. We are excited about the potential and new market space that we can further venture into together with JF,” he said.
JF CEO Engku Azhan Fahmi said JF was always on the lookout for win-win business collaboration with local and international companies especially in joint product development, marketing and distribution, R&D, shared technology, OEM manufacturing, and contract farming as well as more retail outlets, agents, and drop-shippers for its products.