KUALA LUMPUR: Tasco Bhd said its subsidiary is buying a 50% stake in a cold chain logistics company in Kota Kinabalu, Sabah for RM10.55mil cash.
The acquisition, Tasco said in a Bursa Malaysia filing today. will facilitate the group's expansion into Sabah and Sarawak.
On Wednesday, Tasco's 70% owned Tasco Yusen Gold Cold Sdn Bhd (TYGC) has entered into a deal to acquire 50% stake in Hypercold Logistics Sdn Bhd.
Hypercold has the largest cold chain warehouse capacity of 3,000 pallet space as well as 8 temperature- controlled trucks in Sabah.
"Hypercold is a strategic fit to TYGC due to its operational track record of approximately 10 years of servicing the major players of food & beverage industry in Sabah," Tasco said.