Singapore-based soyfood firm Unicurd Food Co. has been sold to Vitasoy International Holdings, a food and beverage group based in Hong Kong.
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Vitasoy, which has production sites in China, Australia and the US, will pay S$14m (US$10.1m) for Unicurd, a maker of a range of soy products including tofu, soymilk and desserts.
Vitasoy chairman Winston Yau-lai Lo said: “The acquisition of Unicurd is a strategic move in a category we understand well. It also demonstrates our commitment to growing the business in areas that are complimentary to our core competencies and company values.”
Unicurd is the largest seller of tofu in Singapore and, as a business, generates annual sales of S$8m.
Unicurd founder and MD Francis Goh said he saw his company’s international presence developing under new owners.
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By GlobalData“I am delighted to see the fruition of a local Singapore company now moving onto the international stage. With the resources and support of Vitasoy, I look forward to seeing more Unicurd quality tofu and other soyfood products made available to Singaporeans and customers throughout the region.”
