JDE Offers US$1.01 Billion Takeover For Instant Coffee Brand Super

Thursday, November 3rd, 2016 | 621 Views


Jacobs Douwe Egberts (JDE) announced a S$1.45 billion (US$1.01 billion) takeover offer for instant food and beverage manufacturer Super Group, subject to local regulatory approvals.

The Dutch firm made a cash offer of S$1.30 per share, which was 34 percent over the company’s last traded price on October 31 on the Singapore Exchange. The offer is supported by shareholders representing over 60 percent of the Asian instant food and beverage company’s issued shares. This includes a pledge from YHS Investment, holding 11.7 percent of the company’s issued shares.

“The premium represents one of the highest premiums paid in recent Singapore public market takeover history,” said Keith Magnus, chief executive officer of Evercore Asia, who negotiated the deal.

Super Group manufactures and distributes over 160 instant beverage and food products in over 65 countries, such as OWL 3-in-1 coffee and Super Cup instant noodles.

“As part of our global coffee strategy, we are excited to welcome Super Group to JDE and expand our footprint into the strategically important Southeast Asian growth region,” said Pierre Laubies, chief executive officer of JDE.

 

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