PETALING JAYA: Food Life Sdn Bhd, a wholly-owned subsidiary of Farm Price Holdings Bhd, has entered into agreements to acquire assets and a business from Hong Yun Vegetables and Fruits Sdn Bhd, as well as assets from D & D Sinma 8888 Univeg Trading, for a total of RM4.5mil in cash.
The acquisition from Hong Yun, valued at RM3.9mil, includes motor vehicles, equipment and the latter’s wholesale and retail business dealing in groceries, vegetables, fruits, seafood, and frozen foods.
The transaction with D & D, valued at RM600,000, comprises motor vehicles and machinery.
In a filing to Bursa Malaysia, Farm Price said the deals aim to expand its supply chain, enhance product offerings, grow its customer base in Malaysia and Singapore, and boost revenue.
Funded internally, the acquisitions are expected to complete in the third quarter.
