think can short. too high now
GS Holdings to Acquire Integrated Beverage Solutions Group, Octopus Distribution Networks, for S$11.8 Million Expected to Yield Significant Opportunities and Additional Financial Benefits
&bull Octopus Distribution Networks is one of the leading integrated beverage solutions group in Singapore, providing brand management, import, export, distribution, logistics and warehousing of alcoholic and non-alcoholic beverages and liquor in Singapore
&bull Accretive acquisition that is synergistic to the Group&rsquo s business model and expected to yield significant opportunities and additional financial benefits
&bull Bringing a wealth of expertise and talent that enhances the Group&rsquo s leadership and experience in the F& B industry
&bull The Group recently completed a rights issue that was oversubscribed with net proceeds of S$8.4 million raised for future expansion and working capital
GS Holdings Limited (&ldquo GS Holdings&rdquo or the &ldquo Company&rdquo or &ldquo 伟 盛 有 限 公 司 &rdquo and together with its subsidiaries, the &ldquo Group&rdquo ), is pleased to announce that the Group has signed a binding agreement to acquire Octopus Distribution Networks Pte. Ltd. (&ldquo Octopus Distribution Networks&rdquo ), a Singapore-based integrated beverage solutions group, for a purchase consideration of S$11.8 million.
GS Holdings&rsquo Independent and Non-Executive Chairman, Mr Irwin Lim Kee Way, said, &ldquo We are pleased to announce the acquisition of Octopus Distribution Networks, which provides the Group with immediate access to new customer base and operating scale within the beverage sector in Singapore&rsquo s F& B industry.
Led by Dato&rsquo Elaine Teh, the team at Octopus Distribution Networks has built an exceptional business enterprise that is dedicated to operational excellence and customers satisfaction for over 13 years.
With fully in-place infrastructure, including personnel and distribution networks, Octopus Distribution Networks has differentiated itself with unique value propositions and a strong base of customers, and we believe that there are significant opportunities for growth in existing and new markets.
I trust this next step in our journey together will be incredibly positive for the Group.&rdquo
Octopus Distribution Networks&rsquo Founder and Chairman, Dato&rsquo Elaine Teh, added, &ldquo Today&rsquo s announcement marks a major step forward in our growth ambitions within the region&rsquo s F& B industry.
With the combined expertise, experience and resources, we will continue to build strong relationships with our customers and delivering value that consistently exceed expectations.
Together with GS Holdings, we are excited about accelerating the growth of our businesses and delivering results for years to come.&rdquo
Accretive acquisition that is synergistic to the Group&rsquo s business model and expected to yield significant opportunities and additional financial benefits
Founded in 2011 by serial entrepreneur Dato&rsquo Elaine Teh Chooi Peng (&ldquo Dato&rsquo Elaine Teh&rdquo ), Octopus Distribution Networks has grown to become one of the leading integrated beverage solutions group in Singapore, providing a &ldquo one-stop&rdquo solutions hub, in the area of brand management, import, export, distribution, logistics and warehousing of alcoholic and non-alcoholic beverages and liquor, for both customers and beverage brand owners.
For customers, Octopus Distribution Networks represents an extensive portfolio of globally recognised beverage brands with various exclusive distribution rights. Currently, Octopus Distribution Networks has a product portfolio of more than 1,500 SKUs across approximately 200 beverage brands from 50 global brand owners. Octopus Distribution Networks also provides customised services that cater to the demands of both corporate and individual clients.
For beverage brand owners, Octopus Distribution Networks has become a trusted partner and a preferred beverage distributor in Singapore with a comprehensive distribution network comprising strategic distribution centres and third-party wholesalers in Singapore. With a deep understanding of the Singapore market, Octopus Distribution Networks also provides other value-added services, including market expansion strategies and customer engagement solutions, that aims to enable brand owners to quickly build brand loyalty and market share in Singapore.
Bringing a wealth of expertise and talent that enhances the Group&rsquo s leadership and experience in the F& B industry
Under the acquisition agreement, Dato&rsquo Elaine Teh will become a controlling shareholder of GS Holdings and it will also bring on a professional management team with 80 years of collective experience in the beverage distribution industry to the Group.
Dato&rsquo Elaine Teh is a serial entrepreneur with an accomplished business track record in various business ventures in Singapore, Malaysia and Australia.
Besides her current role as Founder and Executive Chairman of Octopus Distribution Networks, Dato' Elaine Teh also holds multiple executive-level roles in various companies in different countries.
She is a Non-Executive Director of ASX-listed Australian Vintage Ltd, a leading Australian wine and drinks company, where their diversity of regions, broad portfolio of global brands, production capabilities and established winemaking pedigree have resulted in its brands being recognised and available in over 40 countries. Dato' Elaine Teh is also the Founder & Executive Chairman of Etagreen Group in Malaysia, which is the owner and operator of a zero-waste biomass power plant in Perak, Malaysia, with assets of more than RM140 million.
In addition to her business roles, Dato' Elaine Teh is actively involved in various business councils that nurture women entrepreneurs, promote gender diversity and inclusion, develop greater business collaborations and engagement with government agencies. Philanthropy is also something Dato' Elaine Teh holds close to her heart, and she has generously facilitated several community building causes and initiatives across Southeast Asia with her time and resources.
Supporting Dato&rsquo Elaine Teh as part her management team at Octopus Distribution Networks is Managing Director, Mr Matthew Ruscoe, who has been a trailblazer in Asia&rsquo s F& B and marketing industry for more than 12 years. With deep industry experience and strong regional network from his previous roles as the Regional Sales Director of Kerry Group and the Sales Director of Carlsberg Myanmar, Matthew undertakes a pivotal role in managing Octopus Distribution Networks&rsquo marketing activities, supply chain operations and driving its strategic initiatives forward.
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