Tealive parent Loob Holding invests in $2m boba plant
The investment is a joint venture between them and their China-based partners.
Loob Holding has commissioned a state-of-the-art tapioca pearl plant in Malaysia for RM10m ($2.13m).
The new one-acre tapioca pearl plant is located at Kapar, Selangor. The plant has an installed capacity of 400 tonnes of pearls per month and would be one of the largest in the country.
Loob Holding's partners for the venture are Zhejiang Boduo International Trade Co Ltd and Shanghai Panfei International Trade Co Ltd, who have been close supportive suppliers since the launch of the group’s signature brand, Tealive back in 2017.
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“After about two years and when Tealive had scaled up sufficiently, we approached them with the idea of manufacturing pearls in Malaysia. We quickly agreed to collaborate and we wanted to kick-start this plant in 2020 but the pandemic halted our progress. Despite the lockdown challenges both in China and in Malaysia, we’ve succeeded and the plant is up and running today,” Loob founder and CEO Bryan Loo said.
Bryan said that currently, they are running on a single shift, with all production set for their use. However, once production starts to ramp up, Bryan plans to export pearls to their franchisees in other regions, beginning with the Philippines.
Founded in 2010 by Bryan Loo, Loob Holding is a Malaysia-based regional beverage player specialising in the premium quick service segment with a diverse portfolio of four brands: Tealive, Bask Bear, Soda Xpress and WonderBrew Kombucha.