{"id":329447,"date":"2024-09-12T00:44:09","date_gmt":"2024-09-11T16:44:09","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329447"},"modified":"2024-09-12T00:44:11","modified_gmt":"2024-09-11T16:44:11","slug":"trade-the-news-monde-acquires-70-of-homegrown-startup-amico","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-monde-acquires-70-of-homegrown-startup-amico\/","title":{"rendered":"Trade the News: MONDE acquires 70% of homegrown startup Amico"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Monde Nissin Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>MONDE<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 11.92<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Snack food maker Monde Nissin Corp. (MONDE), is investing P17.5 million into an up-and-coming startup firm as the company behind Lucky Me! instant noodles seeks to explore other segments in the market while trying to plug the bleeding in its alternative meat business.<\/p>\n\n\n\n

Monde, which also manufactures SkyFlakes crackers, on Tuesday said it was set to buy 87,500 shares in\u2014or 70 percent of\u2014Amico Innovations Inc. for P200 each before the end of the month.<\/p>\n\n\n\n

According to Monde, Amico is \u201cin the process\u201d of applying for incorporation with the Securities and Exchange Commission.<\/p>\n\n\n\n

Amico is a seeking license to mainly import, export, repack and process \u201call kinds\u201d of goods, wares and merchandise, Monde said in a stock exchange filing. The acquisition was meant mainly for Monde to \u201c[explore] startup opportunities in new categories and businesses.\u201d<\/p>\n\n\n\n

This new business venture comes as Monde seeks to further pare losses from Quorn Foods, its alternative meat business.<\/p>\n\n\n\n

Quorn cut its net loss in the first semester to P486 million from P546 million in the same period last year as the segment remained challenging to navigate due to changing consumer preferences.<\/p>\n\n\n\n

In May, Quorn CEO Marco Bertacca said pricing was a particular barrier to attracting more \u201cflexitarian\u201d customers, or those with a semi-vegetarian diet, as they moved to less expensive choices.<\/p>\n\n\n\n

Last year, the company announced plans to restructure Quorn after inflation headwinds in 2022 stifled growth.<\/p>\n\n\n\n

Monde had reallocated P2.1 billion in initial public offering proceeds previously meant for Quorn to the Asia-Pacific food and beverage segment.<\/p>\n\n\n\n

This segment continued to be Monde\u2019s main growth driver in the January to June period, helping the group\u2019s core earnings surge by 45.5-percent to P5.1 billion.<\/p>\n\n\n\n

(News Source: Philippine Daily Inquirer<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329447","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329447"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329447\/revisions"}],"predecessor-version":[{"id":329449,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329447\/revisions\/329449"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}