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Neo Group in talks to acquire warehouse operator and fruit & veg trader
Food caterer Neo Group is in exclusive talks to acquire two food-related businesses, ER Marketing and Ever Rich.
Under the agreement, the target companies' owners - Messrs Ang Hock Chwei, Ang Jee Soon, Chua Chay Jin Eusebius, Leong Ming Thek, Peh Seok Hoon and Tan Ai Meng - have agreed to give Neo Group up to Aug 31, 2018 to hammer out a deal.
ER Marketing is primarily involved in the import and export of food products such as raw condiments, as well as fruit and vegetables for wholesale and retail businesses. Its core products are garlic, onions, potatoes and dried chilis.
Its customer base includes food factories, supermarkets, restaurants and food stalls.
Ever Rich mainly owns and operates warehouses and cold rooms of various temperatures for storage of food products such as garlic, onions, potatoes and dried chillis.
It also provides storage services of food products to third-party customers, other than ER Marketing. It will be expanding into the processing of meat and vegetables.
Publication date: 9/25/2017
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