Siam Food Service Company Limited, a subsidiary of CP Axtra Public Company Limited (SET: CPAXT), the operator of Makro and Lotus’s, has acquired shares in Renewed Hope Pte. Ltd., a holding company for companies under the Lucky Frozen brand. Lucky Frozen specializes in the import, production and distribution of food products to hotels, restaurants, retailers, and wholesales in Malaysia.
This transaction represents a 100% acquisition of Renewed Hope’s total paid-up registered capital in ordinary shares. CP AXTRA believes this investment will deliver significant benefits, including:
- Strengthening its foodservice business across a network spanning 20 cities in 7 countries in Asia Pacific and the Middle East, a core focus for CP AXTRA’s key wholesale operations.
- Enhancing and reinforcing its regional leadership in food product by combining Renewed Hope’s expertise with CP AXTRA ’strengths in both foodservice and retail- wholesale businesses.
- Supporting its retail business in Malaysia, a strategic growth market with solid economic fundamentals and consumer purchasing power.
The acquisition of Renewed Hope forms part of CP AXTRA’s strategy to drive sustainable growth and strengthen its position as a food leader in Asia.
