CREADOR’S purchase of a 30% stake in Loob Holding Sdn Bhd – the owner of milk tea brand Tealive – has reignited market interest in the food and beverage sector.
The private equity firm, known for its consumer investments including in Old Town White Coffee, MR DIY and Ecoshop, said that it had taken a 30% stake in Loob, which also has a few other lesser-known brands such as Tealive Eats and coffee chain Bask Bear Coffee. Although some reports have put the stake sale value at up to RM260mil, Creador founder and chief executive officer (CEO) Brahmal Vasudevan did not disclose the valuation of the deal when asked.
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