ACI invests $20m in fruit-juice production with Danish firm

Highlights: 

• ACI CO-RO will market international-quality fruit drinks by leveraging the reputation and experience of the Sunquick brand
• ACI CO-RO Bangladesh Limited was formed in 2019 to set up fruit juice factory 
• Journey of the factory in Araihazar upazila of Narayanganj kicked off on Tuesday
• Sunquick offers natural, ready-to-drink options without artificial additives, aligning with evolving consumer preferences, according to the new venture 

A joint venture between business conglomerate ACI Limited and Danish juice giant CO-RO has established a fruit drink factory with a $20 million investment and aims to gradually expand their footprint in the country's beverage industry.

The business journey began ceremoniously with the inauguration of the fruit juice factory in Araihazar upazila of Narayanganj on Tuesday.

It will market international-quality fruit drinks by leveraging the reputation and experience of the Sunquick brand.

According to officials, ACI CO-RO Bangladesh Limited was formed in 2019 through domestic and foreign investment to deliver European-standard fruit drinks to Bangladeshi consumers' doorsteps.

At the inaugural ceremony, Søren Holm Jensen, president of CO-RO A/S, said, "Through ACI CO-RO, we gain access to a large and growing market, and we see great value in our partnership with ACI Ltd, which will bring joy to 170 million consumers in Bangladesh.

"Together, we have invested in the construction of a new, modern factory strategically located on the outskirts of Dhaka. We have established a great organisation, and we are now poised to launch the new Sunquick products widely across Bangladesh as well as export markets."

CO-RO officials said CO-RO is fully committed to training and transferring knowledge gained internationally to benefit the local organisation whenever possible. With support from CO-RO, ACI CO-RO will aim to become pioneers in setting best-case practice standards for employee satisfaction and engagement by applying Scandinavian leadership styles and ways of working at a small scale.

Arif Dowla, managing director of ACI Limited, said, "Our commitment to innovation, superior product quality, and the well-being of consumers in Bangladesh has come to life with the launch of Sunquick.

"This not only marks a milestone for ACI CO-RO but also a significant stride towards redefining the ready-to-drink market in Bangladesh. We are dedicated to leading the company towards continuous success and contributing to the prosperity and wellbeing of Bangladeshi consumers."

According to officials at the new venture, the mission of ACI CO-RO is to bring a "wow" feeling to consumers through delicious taste and exceptional product quality. The launch of Sunquick, a beloved brand known for its commitment to purity and flavour, is set to revolutionise the ready-to-drink market in Bangladesh.

"Our commitment to innovation, superior product quality, and the well-being of consumers in Bangladesh has come to life with the launch of Sunquick." Arif Dowla, Managing Director, ACI Limited

Sunquick offers natural, ready-to-drink options without artificial additives, aligning with evolving consumer preferences. The production process adheres to high European standards, sourcing materials globally. With a timely launch amid Bangladesh's rapid economic growth, Sunquick caters to the changing tastes of the new generation, poised to become a symbol of quality and taste.

Agriculture Minister Md Abdus Shahid, who inaugurated the factory, said, "Foreign investment in the agricultural product market is increasing day by day, and it comes with product diversification. They are sharing expert knowledge and creating employment opportunities in the local market."

Christian Brix Møller, Ambassador of Denmark to Bangladesh, stated, "It includes promoting mutual understanding and encouraging investments that bring Danish quality to Bangladesh. ACI CO-RO's commitment to delivering superior products aligns seamlessly with our shared values."

Søren Ravn, executive vice president for Asia Region of CO-RO A/S, Nils Ronnow, managing director of ACI CO-RO (Bangladesh) Ltd, and both founding companies' top executives were present on the occasion.

Established in 1942, CO-RO has been refreshing and delighting international markets for over 50 years, particularly it boasts robust positions across the Middle East, Asia, Europe, and Africa. Today CO-RO brands have consumers in over 80 markets.

ACI Limited is one of the largest conglomerates in Bangladesh, generating more than Tk10,000 crore in annual revenue. It is engaged in various sectors such as healthcare, agriculture, fast-moving consumer goods, and automobiles.

ACI Limited is also listed on the country's stock market, with its shares closing at Tk188.50 each on Tuesday at the Dhaka Stock Exchange. It is treated as a fundamentally strong company among investors due to its history of paying handsome dividends over the years.