Etika’s dairy product business spans across New Zealand and the Southeast Asian region, which includes Malaysia, Vietnam and Indonesia.
The group export products that include condensed milk under the ‘Dairy Champ’ brand, which is well-known in Malaysia.
In the deal, the Japanese brewer and soft drinks maker, Asahi, will acquire Kuala Lumpur-based Etika Dairies Sdn Bhd and 11 other companies in the region.
Etika said in a statement that the proposed sale ‘provides a good opportunity for the group to unlock value in the business and consequently maximise returns to its shareholders.’
Source: Channel News Asia
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