Koufu Group acquires Deli Asia
The move is expected to strengthen the group’s supply chain.
SGX-listed Koufu Group has completed the acquisition of Deli Asia, Delisnacks, Dough Culture and Dough Heritage for about S$22 million (US$16 million).
“This accretive acquisition is very much in line with our business strategy to leverage on our partners’ specialist expertise to fast-track Koufu’s diversification of business network and brands in complementary products both locally and abroad, thereby strengthening our income stream resiliency,” Koufu’s executive chairman and CEO Pang Lim said in a statement.
The acquired companies represent of one of Singapore’s largest and most established manufacturer and producer of fried food and dough products, supplying frozen and partial fried food products to third party businesses such as food and beverage operators, restaurants and stalls at food courts, coffee shops and hawker centres.
The Deli Asia group has approximately 60 franchised stalls at hawker centres and coffee shops under its Delisnacks brand. In addition, the group retails fried food and dough products directly to consumers in various locations across Singapore, including suburban malls, under its Dough Culture brand.
Koufu also plans to expand the Dough Culture from its current seven kiosks to at least 20 in the next five years.
“The synergistic effect of Deli Asia’s complementary business enables Koufu to develop our supply chain of well-loved traditional fried food and dough products for retailing at our food courts, coffee shops and quick-service restaurants, thus adding a greater variety of quality choices to our dim sum, bakery and confectionery items for all our consumers,” Lim added.
