Global Food, Beverage & Tobacco Undervalued over 20% based on DCF

Nissui

Market Cap: JP¥305.4b

Engages in marine, food products, fine chemicals, distribution, and marine-related/engineering businesses in Japan and internationally.

Jonjee Hi-Tech Industrial and Commercial HoldingLtd

Market Cap: CN¥14.6b

Produces and sells seasoning products in China and internationally.

Kotobuki Spirits

Market Cap: JP¥296.5b

Produces and sells sweets in Japan.

Vita Coco Company

Market Cap: US$1.9b

Develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific.

Triputra Agro Persada

Market Cap: Rp29.6t

Engages in the oil palm plantations and palm oil processing businesses in Indonesia.

House Foods Group

Market Cap: JP¥263.5b

Engages in the manufacture, sale, import, and export of spices, seasonings, and processed foods in Japan 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.

Carabao Group

Market Cap: ฿56.0b

Through its subsidiaries, manufactures, markets, distributes, and sells beverages in Thailand and internationally.

Osotspa

Market Cap: ฿55.3b

Manufactures and distributes energy drinks and personal care products in Thailand and internationally.

Sichuan Teway Food GroupLtd

Market Cap: CN¥11.8b

Engages in the research, development, production, and sale of compound seasonings in China.

Fevertree Drinks

Market Cap: UK£1.1b

Engages in the development and sale of mixer drinks in the United Kingdom, the United States, Europe, and internationally.

Greencore Group

Market Cap: UK£1.1b

Manufactures and sells convenience food products in the United Kingdom and Ireland.

Sanquan Food

Market Cap: CN¥9.9b

Produces and sells frozen food products in China.

Shanghai Ziyan Foods

Market Cap: CN¥9.7b

Engages in the research and development, production, and sale of marinated food in China.

British American Tobacco Bangladesh

Market Cap: ৳156.9b

Manufactures and sells cigarettes in Bangladesh.

KRBL

Market Cap: ₹111.5b

Manufactures and markets rice products in India and internationally.

Carlsberg Brewery Malaysia Berhad

Market Cap: RM 5.3b

Engages in the production, distribution, and sale of beer, stout, cider, shandy, liquor, and non-alcoholic beverages in Malaysia, Singapore, and internationally.

Três Tentos Agroindustrial S/A

Market Cap: R$6.7b

Operates in the agribusiness sector in Brazil.

Toly BreadLtd

Market Cap: CN¥8.9b

Engages in the produces, processes, and sales of baked products in China.

MEGMILK SNOW BRANDLtd

Market Cap: JP¥173.4b

Manufactures and sells milk, milk products, and other food products in Japan and internationally.

Cerveceria San Juan

Market Cap: S/4.1b

Engages in the production, packaging, distribution, and sale of beer.

Japfa Comfeed Indonesia

Market Cap: Rp18.2t

Operates as an agri-food company in Indonesia.

Wellhope Foods

Market Cap: CN¥7.8b

Produces and sells feed products for pigs, poultry, ruminant animals, and other animals in China and internationally.

Sakata Seed

Market Cap: JP¥155.0b

Produces and sells vegetable and flower seeds, bulbs, plants, and agricultural and horticultural supplies in Japan and internationally.

Bega Cheese

Market Cap: AU$1.6b

Bega Cheese Limited receives, processes, manufactures, and distributes dairy and other food-related products in Australia.

A.G. BARR

Market Cap: UK£767.5m

Manufactures, distributes, and sells soft drinks and cocktail solutions in the United Kingdom and internationally.

Gudang Garam

Market Cap: Rp16.7t

Engages in the manufacture and sale of cigarettes in Indonesia and internationally.

São Martinho

Market Cap: R$5.5b

Engages in the production and sale of sugar, ethanol, and other sugarcane byproducts in Brazil.

Ligao FoodsLtd

Market Cap: CN¥7.3b

Engages in the research and development, production, and selling of baked food raw material and frozen baked foods in China.

Shanghai Bright Meat Group

Market Cap: CN¥7.3b

Engages in the production, manufacture, and distribution of food products in China.

Spadel

Market Cap: €863.3m

Produces and markets natural mineral water in Belgium.

Elders

Market Cap: AU$1.5b

Provides agricultural products and services to rural and regional customers primarily in Australia.

Agthia Group PJSC

Market Cap: د.إ3.4b

Operates in the food and beverages in the United Arab Emirates and internationally.

Adecoagro

Market Cap: US$918.9m

Engages in agricultural and agro-industrial activities in Argentina, Brazil, Chile, and Uruguay.

ChenGuang Biotech Group

Market Cap: CN¥6.6b

Develops and produces natural colors, spice extracts and essential oils, nutritional and pharmaceutical extracts, and oils and protein.

Farm Fresh Berhad

Market Cap: RM 3.4b

Engages in the production, marketing, and sale of cow’s milk and plant-based related products in Malaysia, Australia, Singapore, and internationally.