Hextar Global Bhd says its 51 percent-owned Hextar Fruits Sdn Bhd has entered into a share sale agreement with PHG Ever Fresh Group Sdn Bhd to buy 100 per cent stakes in three of its subsidiaries. They are PHG Ever Fresh Food (M) Sdn Bhd, PHG Ever Fresh Food (TK) Sdn Bhd and PHG Wholesale & Retails Sdn Bhd.
Hextar is also buying a 55 per cent stake in PHG Ever Fresh Plantation Sdn Bhd l. The acquisitions are valued at RM84 million. The PHG Group has been operating in the durian industry for more than 30 years. It is one of the pioneering processing factories in Malaysia and one of the largest exporters of whole frozen durians to China.
The PHG Group supplies and exports more than 3,000 tons of durians annually to countries such as China, Hong Kong, Taiwan, Indonesia, Japan, Singapore, Britain, Australia, the United States, Canada and New Zealand.
Source: nst.com.my