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1 MIN READ

Malaysia: Fraser and Neave plans to acquire Cocoaland

June 14, 2022
-
Asia Pacific, Food, Mergers & Acquisitions

Malaysian food and beverage manufacturer Fraser and Neave Holdings is prepared to make moves towards obtaining full ownership of a local peer Cocoaland Holdings.

According to sources, Fraser and Neave plans to buy all of the shares in Cocoaland that it does not yet own for just under 488.2 million MYR ($111.1 million) in total.

Fraser and Neave first invested in the snack and drinks manufacturer Cocoaland in 2010 and held a 27.66% stake in Cocoaland shares. Fraser has now proposed a bid of MYR 1.50 ($0.34) per share of Cocoaland – with a 31% premium attached to the average expected share price of Cocoaland.

According to Fraser and Neave, “The investment will add established Malaysian confectionery and snack brands to Fraser and Neave Holdings’ portfolio of renowned brands, and at the same time serves as a platform to build on and expand into other packaged food segments”.

The proposed acquisition is expected to be finalised in the final quarter of 2022, should everything go according to plan.

Source: Fraser and Neave

Tags
Cocoaland
Fraser and Neave
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Malaysia: Fraser and Neave plans to acquire Cocoaland - Gama