New distribution centre to give spun-off food business ‘marked advantage’ – Farsons CEO

The new entity emerging from the recently approved spin-off of Farsons’ food business will be bolstered by a major food distribution centre set for completion in 2026, Group CEO Norman Aquilina told shareholders at the company’s recent annual general meeting.

The Ħandaq facility will give the newly set-up Quinco Holdings plc “a marked advantage over the majority of its competitors,” he said.

The €20 million investment will consist of 12 un/loading bays, ambient/cold/frozen storage facilities, a four storey office block, and underground parking.

The corporate restructuring will allow the company to “fully exploit its potential by unlocking scalability prospects,” continued Mr Aquilina, “setting the stage of becoming leaders in restaurant franchising, food importation, and supply chain management, thereby setting strong foundations for long-term sustainable growth.”

According to Mr Aquilina, the spin-off along with this investment will add strategic focus, gain competitive advantage, drive growth opportunities, and enhance shareholder value.

In view of the spin-off of Farsons’ real estate holdings into Trident Estates plc in 2018, shareholders will now have direct access to three separate and distinct sectors,  beverages, foods and real estate, allowing them to manage these assets at their discretion and in accordance with their requirements.