March 11, 2023
Spanish dairy firm Pascual starts milk production in Angola
Major Spanish-based dairy company Pascual has started milk production in Angola, through a partnership with Angolan beverage manufacturer Refriango to open a new milk processing plant in the capital city, Luanda, Just Food reported.
The Spanish company projects that its new milk marketing and production facility will generate EUR 100 million (~US$105.76 million; EUR 1 = US$1.07) in revenue over the next five years.
In February 2022, Pascual said that Angola accounts for about 15% of its international business and was forecast to reach a turnover figure of EUR 25 million (~US$26 million). The company has been shipping yoghurt to Angola for 25 years.
The business claims to have a market share of over 50% in Angola for long-life yoghurt and has goals to increase Angola sales by a factor of twelve by the year 2028.
Pascual will start domestic production of both UHT and powdered milk, with a total of 19 references in Angola, five UHT and 14 powdered.
Tomas Melendez, the international director for Pascual, said the company's ambition is to ensure that Angola is capable of self-sufficiency without the need for imports, locally producing nutritious products of the highest quality and generating employment throughout the region.
On the strength of extending its production to Central America and south-east Asia, Pascual has stated that it expects to achieve an international turnover of EUR 125 million (~US$133 million) in three years. Currently, 6% of the Spanish company's revenue comes from its operations in 60 different countries.
Melendez said the company's goal is to concentrate on emerging markets to continue expanding and double the overseas revenue of their business in 2026.
- Just Food