F&N inks extension of licence agreements with Nestlé

Singapore

FRASER and Neave Limited (F&N) has, through its Bursa-listed subsidiary Fraser & Neave Holdings Bhd in Malaysia, signed several agreements with Société Des Produits Nestlé SA and Nestec SA - collectively, Nestlé - to manufacture and distribute Carnation, Bear Brand, Bear Brand Gold, Ideal Milk and Milkmaid in Singapore, Thailand, Malaysia and Brunei.

The licences are for a period of 11 years and seven months, with a right to extend for a term of 10 years until Jan 31, 2037. These agreements extend the term of the group's existing licences granted by Nestlé on Feb 1, 2007 when the group acquired Nestlé's canned liquid milk, UHT and chilled dairy and juice business in Thailand, and the Tea Pot brand. The agreements take effect on July 1, 2015, F&N said on Friday.