![]() ![]() ABAX has delivered consistent growth and we believe that the company is well-positioned for the future with a proven acquisition playbook in an expanding addressable market.” Investcorp’s Europe Private Equity head Daniel Lopez-Cruz said: “We backed ABAX to acquire Automile as the transaction enhances ABAX’s leadership position in the highly fragmented and growing telematics market, which we believe remains underpenetrated despite increased rates of adoption. The combination creates the second largest telematics player in Europe by the number of subscriptions and will enable ABAX to offer new and existing customers a wider array of value-added connectivity services with greater geographic coverage. The transaction has closed and positions the combined group as a global telematics leader with more than 360,000 subscriptions. Meanwhile, Investcorp said in a separate statement that its portfolio company ABAX, the #1 telematics solutions provider in the Nordics and one of the largest in Europe, has acquired Automile, a Nordic-based provider of telematics and Internet of things (IoT) services. The acquisition of Viz Branz represents Investcorp’s 16th investment in the food and beverage industry in over three decades across the US, Europe, Mena and Asia. “We believe that the company’s market-leading positions could be leveraged to create a sizeable branded, packaged F&B platform in China and Southeast Asia.” We believe that Viz Branz is well positioned for expansion through increasing distribution in China and other parts of Southeast Asia, delivering product innovation and investing in the company’s operational and multi-channel capabilities as well as through add-on acquisitions. “This transaction represents an exciting opportunity in a market leading company and in what we believe is an attractive, resilient sector with substantial growth dynamics. ![]() To date, Investcorp has invested over $1 billion in Asia, mostly in China. ![]() Hazem Ben-Gacem, co-chief executive of Investcorp and chairman of the Asia Food Growth Fund Investment Committee commented: “We are proud of our growing Asian investment platform. The company generated 170 million Singapore dollars in sales for the 12 months ended June 2020.Ĭhina is the largest market for the company, accounting for over 65 per cent of its revenues. Headquartered in Singapore, Viz Branz has approximately 1,300 employees with manufacturing facilities and operations in China and Myanmar. The deal was concluded in partnership with the Asia Food Growth Fund I.Įstablished in 1988, Viz Branz is a leading, family-owned manufacturer and distributor of instant cereal and beverage brands across China and Southeast Asia, including Gold Roast, Calsome, Royal Myanmar Tea and Cafe 21 brands. MANAMA: Investcorp has entered into a definitive agreement to acquire a majority ownership position in Viz Branz Holdings from the existing shareholder and chief executive Ben Chng.
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