KUALA LUMPUR: Globaltec Formation Bhd has signed a conditional subscription and shareholders agreement to acquire a 45% equity interest in Metta Food & Lifestyle Sdn Bhd for RM20mil.
In a Friday statement, the group said it intended to develop Metta's food and beverage business, namely the De.Wan 1958 by Chef Wan & Cafe Chef Wan branded restaurant/café outlets.
Metta is a company founded by Andre Shum in 2019.
"Together with Datuk Redzuawan Ismail (or better known as Chef Wan), the multiple award-winning international celebrity chef, they created the brands De.Wan 1958 by Chef Wan and also Cafe Chef Wan”.
"Chef Wan, in addition to being the brand ambassador, he curates the recipes and menus for all existing and future F&B outlets and participates in the setting of strategic directions," it said.
Metta is also involved in the sales and production of fast-moving consumer goods (FMCG) related to its business, such as its own branded sauces, butter and spices used in day-to-day cooking.
According to the statement, Metta plans to expand its De.Wan 1958 by Chef Wan & Cafe Chef Wan outlets from its current four outlets to 13 outlets within Malaysia in the next two years.
"At present, Metta has already secured tenancies and put in the pipeline another De.Wan 1958 outlet and four Cafe Chef Wan outlets in strategic locations, by early 2023.
"Metta also has plans to take advantage of its internationally recognised branding and market to sell its FMCG food products regionally," it added.
Globaltec chairman Tan Sri TC Goh said Globatec will raise its profile and recognition from leveraging the reputation and international branding of a celebrity chef like Chef Wan and the F&B outlets nationwide.
"We are excited to partner with Globaltec, whose sound financial position and corporate finance expertise will be able to fuel our branded Chef Wan restaurants’ next phase of expansion in Malaysia and potential international expansion, elevating the brands to greater heights," said Shum.
Meanwhile, Chef Wan said the synergistic collaboration will allow him to realise his culinary ideas further and enable a greater reach to consumers.
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