On top of opening new locations, another thing Farm Fresh has enabled for Inside Scoop is entering more segments of the ice cream market, with the most notable one being the consumer packaged goods (CPG) segment. With Farm Fresh’s expertise and capital, however, the ice cream brand would be able to scale more aggressively and meet its aim of doubling its outlet count in the medium term.įrom our call with Loi, it seems like one of those outlets might soon be found on Farm Fresh UPM. The CEO believes that Edmund likely had heard of that and saw it as an opportunity to work together.Īs a private company, Inside Scoop has its limitations. “We’ve always admired what Mr Loi has done in the dairy industry, and we felt like there were things we could learn from him and the larger Farm Fresh organisation,” Edmund said.Īccording to Loi, during Farm Fresh’s IPO, its prospectus had detailed that the company would be going into ice creams. Thus, this partnership would mean improved profit margins for Inside Scoop. “We’re very pleased to have them on board, on our leadership team.” Image Credit: Inside ScoopĮdmund described the discussions between the two parties as a “very organic” one as well, especially considering Inside Scoop has been a user of Farm Fresh’s products. “I think undoubtably as a homegrown company, the husband and wife have done a great job,” Loi expressed. With both parties being in the dairy industry, albeit making different products, Loi shared that he’s known Inside Scoop’s Edmund Tan and Lim Shiew Li for a quite a few years and has been following their growth story. To learn more about the acquisition, we reached out to Loi Tuan Ee, Farm Fresh’s CEO, and Inside Scoop co-founder Edmund Tan. On February 15, local dairy company Farm Fresh proposed to acquire a 65% stake of Inside Scoop for RM83.9 million.
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