TUMON Guam — LEAF Inc. announced June 7 the acquisition of shares activities of Friesland (USA) Inc. which does business as Foremost Foods and Coca-Cola Beverage Co. Foremost produces and sells dairy products ice cream water and fruit juices in Guam and distributes Coca-Cola brand products. LEAF is a Northern Mariana Islands-based corporation whose management includes Johnnie Fong — who also is president of Nakicos Corp. which does business as Subway Restaurants. Other investors have ties with Coca-Cola Bottling in Macao and parts of Southern China.
Fong is also the distributor of Coca-Cola products in the Northern Mariana Islands.
LEAF is acquiring the facilities sales activities and brands and the company’s 114 employees. All contracts will remain in place with the new company.
Peter McGrath said managing director of Foremost said “This is a good deal for the company for its employees and for Guam.” McGrath told the Journal he was delighted to remain with the company.
Friesland said in the announcement it had decided to sell because “Foremost Foods’ areas of operation and geographic location do not fit into Friesland Foods’ core business operations.” MBJ