Singapore: Jacobs Douwe Egberts makes offer for Super Group
Dutch coffee and tea company Jacobs Douwe Egberts has announced that it has made a pre-conditional offer to acquire all issued shares of Singaporean instant food-to-coffee maker Super Group for 1.45 billion SGD ($1.03 billion).
Super Group manufactures instant coffee and tea, instant tea mixes and instant cereals, with a portfolio of over 160 instant beverage and food products distributed in over 65 countries. Its brands include Super, Essenso, Owl and Nutremill.
Commenting on the deal, Jacobs Douwe Egberts CEO Pierre Laubies said: "As part of our global coffee strategy, we are excited to welcome Super Group to JDE and expand our footprint into the strategically important Southeast Asian growth region. The company's long history of leadership, innovation and quality will fit well within our mission to serve our customers with the iconic brands they love".
The commencement of the offer is subject to the receipt of regulatory approvals, with the offer be conditional upon Sapphire, an indirect wholly-owned subsidiary of Jacobs Douwe Egberts, receiving more than 50% of Super Group's issued shares being tendered in acceptance of the offer, Jacobs Douwe Egberts said.
Source: Jacobs Douwe Egberts