Global Food, Beverage & Tobacco Undervalued Small Caps

Viña Concha y Toro

Market Cap: CL$760.4b

Produces, distributes, stores, transports, and sells wines in Chile, Argentina, and the United States.

Inghams Group

Market Cap: AU$899.5m

Engages in the production and sale of chicken and turkey products under the Ingham’s brand primarily in Australia and New Zealand.

Indofood Agri Resources

Market Cap: S$516.5m

Operates as a vertically integrated agribusiness company in Singapore, Indonesia, China, Nigeria, Timor Leste, and internationally.

Wismilak Inti Makmur

Market Cap: Rp2.9t

Manufactures and sells cigarettes in Indonesia and internationally.

Malindo Feedmill

Market Cap: Rp1.9t

Engages in the production of animal feed in Indonesia.

Nascon Allied Industries

Market Cap: ₦297.3b

Manufactures and sells refined, edible, and grade salt in Nigeria.

Ülker Bisküvi Sanayi

Market Cap: ₺39.9b

Manufactures, markets, and sells biscuits, chocolates, chocolate coated biscuits, wafers, and cakes in Turkey and internationally.

Modern Mills

Market Cap: ر.س2.8b

Engages in the manufacture and sale of flour and animal feed in the Kingdom of Saudi Arabia.

Zhou Hei Ya International Holdings

Market Cap: HK$3.7b

An investment holding company, produces, markets, and retails casual braised food in the People’s Republic of China.

NSL Foods

Market Cap: ฿7.8b

Engages in the manufacture and distribution of bakery and snack products in Thailand.

Apetit Oyj

Market Cap: €87.1m

Manufactures and sells plant-based food products in Finland, Norway, Sweden, and internationally.

Kotobuki Spirits

Market Cap: JP¥285.3b

Produces and sells sweets in Japan and internationally.

Xinjiang GuannongLtd

Market Cap: CN¥6.8b

Engages in manufacturing, processing, trades, and selling agricultural products in China.

Calavo Growers

Market Cap: US$396.5m

Calavo Growers, Inc. markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery, foodservice, club stores, mass merchandisers, food distributors, and wholesale customers worldwide.

Asian Alliance International

Market Cap: ฿10.9b

Produces and sells pet food and ready-to-eat human food products in Thailand, the United States, the United Kingdom, Thailand, the Kingdom of Saudi Arabia, Japan, Italy, Germany, and internationally.

Power Root Berhad

Market Cap: RM 541.3m

An investment holding company, manufactures and distributes beverage products in Malaysia, the Middle East, and internationally.

Petpal Pet Nutrition Technology

Market Cap: CN¥4.1b

Petpal Pet Nutrition Technology Co., Ltd.

Scandi Standard

Market Cap: SEK 6.4b

Produces and sells chilled, frozen, and ready-to-eat chicken products in Sweden, Norway, Ireland, Denmark, Finland, Germany, the United Kingdom, rest of Europe, and internationally.

CCK Consolidated Holdings Berhad

Market Cap: RM 721.0m

An investment holding company, engages in the rearing and production of poultry products, prawns, and seafood products.

Shandong Bailong Chuangyuan Bio-Tech

Market Cap: CN¥8.5b

Shandong Bailong Chuangyuan Bio-Tech Co., Ltd.

Anora Group Oyj

Market Cap: €212.5m

Produces, imports, markets, distributes, and sells alcoholic beverages in the Finland, Europe, and internationally.

Nichols

Market Cap: UK£378.5m

Engages in supply of soft drinks to the retail, wholesale, catering, licensed, and leisure industries in the United Kingdom, the Middle East, Africa, and internationally.

Fresh Del Monte Produce

Market Cap: US$1.7b

Through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally.