Monde still open to unloading stake in Figaro

MANILA, Philippines — Snack food giant Monde Nissin Corp. remains open to unloading its stake in the Liu family-led Figaro Coffee Group.

Monde Nissin CEO Henry Soesanto told The STAR that while selling its stake in Figaro is not a must, the company is still open to the possibility.

“The problem is we’re not helping there. We’ll just focus others there,” Soesanto said, adding that “it’s not about being keen or not being keen. Because we’re not being of help there, so let’s just see.”

Late last year, Soesanto expressed his group’s intention to sell their 15-percent stake in the Figaro Coffee Group.

Monde Nissin earlier said that Soesanto’s statements were preliminary and essentially exploratory in nature.

It said that no firm plans have been made or have any proposals or discussions for divestment been presented to or taken up by the company’s board for consideration.

Monde Nissin acquired in 2023 a 15-percent stake in Figaro Coffee Group for about P820.3 million as part of its foray into the food service business and overall growth strategy in the Philippine market.

Figaro, through subsidiary Figaro Coffee Systems Inc., operates and franchises a network of retail restaurants that include Figaro Coffee, Angel’s Pizza, Tien Ma’s and Café Portofino.

As for Monde Nissin’s products, Soesanto expects demand for instant noodles to remain strong among Filipino households, with the company working to further enhance the nutritional value of its products.

“Instant noodle has been the staple food for Filipino for so long. I think it will keep on being the staple food. But in doing that, we will improve the health angle on that so that people can consume it without any (concerns),” Soesanto said.

Nutritional challenges are normally associated with the consumption of processed food.

Soesanto, however, said that Monde Nissin has been committed in prioritizing health-conscious choices.

“We are still in progress. We are maintaining the taste but at the same time, reducing the salt,” he said.

Soesanto said that education is currently among the key challenges faced by the instant noodle industry.

“(Health and safety) that’s very important for us. We are really focused on this. Our food needs to be safe,” he said.

Monde Nissin is the company behind iconic instant noodle brand Lucky Me! noodles.

“In the Philippines, our Lucky Me! Is the number one brand across all product category for the last nine years,” said Soesanto, who also serves as the director general of the World Instant Noodles Association.

Soesanto said the instant noodles industry remains committed to addressing global issues through sustainable innovations to empower consumers worldwide.

He said that sustainable innovations involve creating solutions that minimize impact to the environment, promote social responsibility and enhance the overall quality of life.

“This means that we are dedicated to developing products and practices that not only meet the needs of today’s consumers, but also contribute to the well being of the future generations.  Through these efforts, we hope to inspire positive change and contribute to a more sustainable and equitable world.

“We at Monde are proud to be part of this global community and are excited to contribute to the important works that it now does,” he said.

A global food and beverage company headquartered in the Philippines, Monde Nissin is also behind iconic and market leading brands across fast-growing categories such as SkyFlakes crackers, Fita crackers, Monde baked goods and Quorn meat alternative products.