ABP signs €50m deal with Asian restaurant chain
As of today, ABP has secured an exclusive three-year agreement valued at €50 million to supply beef to an Asian restaurant chain. The deal with Wowprime Corporation will see ABP supply beef to its restaurants across China.
The announcement was made on Tuesday at an event hosted by Wowprime in Shanghai, attended by the Minister for Agriculture, Food and the Marine, Michael Creed, Mr Stanley Lin, general manager of Wowprime China and Mark Goodman, managing director of ABP’s International Division.
Wowprime has 151 restaurants in China. It offers customers a mix of traditional Asian and Western cuisine across 18 restaurant brands. ABP beef will be available in two of Wowprime’s premium restaurant franchises: Wang Steak and Tasty.
"We have been delighted to partner with ABP who have made the strongest case for the merits of Irish beef, which is sustainable, fully traceable to the farm of origin and hormone free," Lin said. "Combined with its high quality and great taste, we have no doubt these qualities will be a winner with our customers throughout China. We look forward to building our relationship with ABP Food Group in the years ahead."
It marks a significant step in developing new market opportunities for Irish products against the uncertain backdrop of Brexit.
Mark Goodman, Managing Director of ABP’s International Division said the deal "is another significant step in developing new market opportunities for our products against the uncertain backdrop of Brexit".
He added that ABP: "Look forward to working with Wowprime, who are crucial in helping us bring Irish beef to the plates of Chinese consumers."
Wowprime has also agreed to extend the arrangement to include ABP’s UK operations, in the event of the UK gaining market access to China.