KUALA LUMPUR: Oasis Harvest Corporation Bhd has secured shareholder approval to acquire Metta Food and Lifestyle Sdn Bhd, the operator of culinary brands De.Wan 1958 by Chef Wan and Café Chef Wan, in a RM30.8 million deal that marks its entry into Malaysia’s fast-growing food and beverage (F&B) sector.
More than 99.99% of shareholders voted in favour of the acquisition at the company’s extraordinary general meeting (EGM), paving the way for the Bursa Malaysia-listed Oasis Harvest to integrate the Metta brands into its expanding F&B portfolio. The transaction includes a two-year profit guarantee of RM5.6 million.
“This approval represents a collective vote of confidence in our vision to build a strong, diversified F&B group,” said Oasis Harvest executive director Ch’ng Eu Vern at the signing ceremony yesterday.
“The acquisition of Metta not only adds two iconic Malaysian brands to our portfolio but also unlocks exciting opportunities for growth, synergy, and brand expansion across the region.”
Ch’ng said the integration of Metta with Oasis’ existing brands, including the popular Uncle Don’s chain and Verona Trattoria will strengthen scale, streamline supply chains and enhance operational efficiency through the use of Metta’s central kitchen.
“This is just the beginning. Oasis is embarking on a proactive mergers and acquisitions (M&As) strategy to expand both organically and inorganically. Our goal is to become one of Malaysia’s leading F&B conglomerates, delivering authentic dining experiences while championing Malaysian culinary excellence on the regional stage,” he added.
For Chef Wan, the collaboration would provide a stronger platform to preserve and promote the country’s culinary heritage.
“By joining hands with Oasis, I believe we can scale up our operations, maintain quality, and bring the richness of Malaysian cuisine to more people both locally and internationally.”
Oasis Harvest, originally an investment holding company with interests in the F&B business through Uncle Don’s, has been repositioning itself as a lifestyle-driven conglomerate.
The move to acquire Metta signals its commitment to building scale and diversifying into premium segments of the dining market.
Ch’ng emphasised that Oasis will continue exploring M&A as part of its growth strategy, targeting both domestic and regional opportunities.
“We are building an integrated F&B ecosystem, where each brand complements the other while benefitting from shared infrastructure and branding power.
“The opportunity ahead is enormous,” said Ch’ng.
“As Malaysia strengthens its reputation as a food destination, Oasis intends to play a leading role in shaping the industry, not only through strong brands but also by setting standards in quality, service, and innovation.”
