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Hero Food Industries set to enter US market in May for first time - Daily News Egypt

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Hero Food Industries set to enter US market in May for first time

Export target for the US is $10m, says managing director


Hero Food Industries contracted with a supermarket chain in the United States to directly export its jam products next month.

The managing director of the company in the Middle East and Africa, Mahmoud Bezan, said that entering the US market proves the company’s commitment to maintain international quality standards.

He added that the company aims to boost its exports to the US to $10m over the coming three years and increase all its exports to EGP 500m by the end of 2017 across 25 countries worldwide.

Moreover, he pointed out that the company aims to raise sales on the local market to EGP 1bn, up from EGP 700m last year, which included exports worth EGP 245m, accounting for 35%. The new plan is to boost exports to 50% of the production.

Bezan said the company aims to enter new African markets in 2017, despite the challenges it faces in the continent, considering the low consumption rate of jam.

He highlighted the importance of international exhibitions that help the company introduce its products to the world.

He said the company is already present in a number of African countries, as Hero accounted for a large share in the Sudanese market before the recent turmoil. The company also exported large quantities to Libya.

Bezan stressed that the company intends to raise its market share in Africa through overcoming the two major problems of transfers and shipments. He noted that increasing exports to African markets will rely on expanding in existing markets—such as in Kenya, Nigeria, Ghana, Mauritius, and Seychelles—in addition to entering new markets. He noted that the company successfully entered new markets following the flotation, namely Mali, Djibouti, Ethiopia, Côte d’Ivoire, and Zimbabwe.

He said that exporting is one of the company’s priorities in the coming period, as the mother company supports that. Hero injected $5m last year to raise the quality and production capacity in Egypt, being the gateway to the Middle East and Africa.

Bezan pointed out that Hero accounts for 60% of the jam market in Egypt, and is ranked among the top companies in a number of Arab countries, including Kuwait, the United Arab Emirates (UAE), Qatar, Libya, Jordan, and Palestine.

He explained that with regards to baby food, the company holds 90% of the local market share and 40-70% in Arab countries, including Saudi Arabia, Bahrain, Qatar, and Kuwait. He noted that all baby food is imported from other branches of the international group. He pointed out that baby food accounts for 30% of the company’s annual sales.

Hero is one of the largest three manufacturers of fruits and their products in the Middle East. The headquarters in Cairo is considered the main hub for exporting to the Middle East and Africa.

The global Hero Group had acquired 65% of French Vitrac company in 2002, and the remaining part of shares in 2005. The name was then changed to Hero Food Industries.

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https://www.dailynewsegypt.com/2017/04/27/hero-food-industries-set-enter-us-market-may-first-time/
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