Pic: (L-R) Group CEO, Paradise Foods Limited, James Rice doing the initial Spice Business handover with Francis Wagaia, Managing Director Rhicornese Holdings Limited.
Paradise Foods Limited Divest Spice Business
Mr. James Rice, CEO of Paradise Company, parent company of Laga Industries and Paradise Foods receives a cheque from Mr. Francis Wagaia the Managing Director for the Rhicornese Holdings Limited for the Spice business equipment.
“Paradise Foods Ltd purchased the Spice business in 2013 from the Puritau family, and it’s fair to say it is no longer a core business for Paradise so it is tremendous that we can pass the business to such suitable owners. The range of spices processed included vanilla, pepper, turmeric, chilli, cardamom, ginger, nutmeg, paprika and cinnamon all sourced from within Papua New Guinea. The staff have all been transferred to the Queen Emma Chocolate Factory, as the chocolate production increases to satisfy growing local demand.” Said Mr. Rice.
Karina Makori, General Manager (GM) Queen Emma Chocolate Factory (and now former GM Spice business) “It has been both rewarding & challenging to grow such a specialised part of the business whilst at the same time focusing on our other core chocolate business. PNG produces a wonderful range of spices and it is reassuring to know that Rhicornese is ready to continue building such a unique business”
“I would like to thank Paradise Foods Limited for allowing us to buy their spice business” said Mr Wagaia. He further added that; “Rhicornese Holdings Limited is the parent company of LD Logistics and the purchase of this business will enable local farmers to have an easy access to the markets through our existing networks and logistical support. Farmers will now be able to sell their produce at a higher price to us as we will be doing downstream processing, hence its a win win for us all”.
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Paradise Company Ltd., is the holding company of Paradise Foods Ltd., and Laga Industries Ltd., and is owned by Nambawan Super Limited and Comrade Trustees Limited. Paradise Company Limited is proud to be 100% PNG owned.
Paradise Foods Limited has been operating in Papua New Guinea for over 80 years with manufacturing sites in Port Moresby and Lae. Paradise is a business that prides itself in perfecting taste in our Biscuits, Snacks, and Beverages and Chocolate that everyone loves anywhere anytime.
Laga Industries Ltd., owns and manufactures ice cream, beverages, cooking oils and baking products with a manufacturing & processing facility in Lae along with a distribution centre in Port Moresby. Laga is renowned for quality products and their range of trusted food brands such as Gala and Highland Meadows for over 40 years.
