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Singapore: JAB looks to $1 billion bid for Super Group

By  |  November 3, 2016

JAB Holding continued its coffee acquisition spree on Thursday by offering to buy Singapore-listed Super Group for S$1.45 billion to expand the world’s largest standalone coffee business in Southeast Asia and China.

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    JAB’s Jacobs Douwe Egberts unit has offered S$1.30 per Super share, a premium of 34 percent to the stock’s last price of S$0.97 before trading was halted on Oct. 31, the companies said in a statement on Thursday.

    Shares in Super Group, which has long been viewed by analysts as a potential acquisition target, jumped 30 percent to S$1.26 after trading resumed on Thursday.

    Founded in 1987, Super is a leading pan-Asian food and drink maker with a portfolio of products including instant coffee and tea and 15 factories in China, Malaysia, Myanmar, Singapore, Thailand and Vietnam.

    The planned acquisition is the latest in a flurry of deals by JAB, the investment vehicle of Europe’s billionaire Reimann family run by three prominent consumer industry veterans.

    Full Content: Reuters

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