Coffee maker Jacobs Douwe Egberts (JDE) has issued a pre-conditional offer to acquire 100% of Singapore-based instant food-to-coffee maker Super Group for SGD1.45bn (US$1.05bn).
The deal, which values Super Group at SGD1.30 per share, is part of JDE’s “global coffee strategy”. JDE CEO Pierre Laubies explained: “We are excited to welcome Super Group to JDE and expand our footprint into the strategically important south-east Asian growth region.”
Super Group is a pan-Asian instant food and beverage manufacturer. Under its core branded consumer segment, the company manufactures products including instant coffee and tea, instant cereals and noodles. Under its food ingredients unit, Super Group also manufactures non-dairy creamer, instant soluble coffee powder, cereal flakes and ingredients for bakery and confectionery businesses.
JDE has already secured commitments from parties representing 60% of Super Group’s outstanding share capital to tender their shares.
David Teo Kee Bock, chairman and MD of Super Group, said: “We are excited to have JDE as our majority shareholder moving forward as we continue to build on the legacy we have established.”