PETALING JAYA: DKSH Holdings (Malaysia) Bhd is buying the entire stake in Auric Pacific (M) Sdn Bhd or S$157.67 million (RM480.91 milllion).
The group told Bursa Malaysia that entered into a conditional share purchase agreement with Auric Pacific Group Ltd for the purchase.
DKSH intends to fund the proposed acquisition through internally generated fund and bank borrowings.
Auric is involved in the distribution of chilled and frozen products and in the food services channel in Malaysia.
DKSH said Auric’s strengths are complementary to the group’s fast move consumer goods market expansion.
“This represents a gateway for DKSH to further increase its product portfolio which creates a synergy effect and is expected to generate positive earnings to the company,” it added.
As at 2.45pm, DKSH’s share price was trading 10 sen or 4.7% higher at RM2.25 on 177,400 shares done.
