Yoshimura Food Holdings earlier announced its attention to acquire 2 commercial kitchen equipment companies in Malaysia and Singapore.
The acquisitions will be made through its Singapore subsidiary, Yoshimura Food Holdings Asia, which oversees its overseas business. In July, the company acquires 70% stake in Malaysia’s Examas Jaya for Yen 1.369 billion (US$9.25 million) and 428,225 shares of Singapore’s Equipmax for Yen 292 million (US$1.97 million).
Both Examas and Equipmax are competitors with Yoshimura Food Holdings’ subsidiaries. By bringing the 2 companies under its umbrella, Yoshimura Food Holdings will increase its market share for kitchen equipments in Asia. Yoshimura Food Holdings also expects to realize synergies such as increased sales through shared sales channels and improved operational efficiency through the sharing of maintenance departments.
Examas Jaya supplies commercial freezers, convection and conveyor ovens across Malaysia. Similarly, Equipmax also supplies ovens in addition to fryers, grills, and freezers for iced-blended beverages/smoothies amongst others.
