Japan's Prima Meat to acquire Singaporean peer Rudi's Fine Food
SINGAPORE, NNA - Major Japanese meat and ham maker Prima Meat Packers Ltd. will acquire Singaporean peer Rudi's Fine Food Pte. Ltd. to expand its Southeast Asian operations.
Prima concluded an agreement with Delikatessen Ltd., a special-purpose vehicle backed by Dymon Asia Private Equity (S.E. Asia) Fund, L.P., and Rudi's founders Rudi and Bessie Ahl last Friday to acquire Rudi's entire outstanding shares for an undisclosed amount.
Once the proposed acquisition is completed, Singapore will become the third overseas operation base for Prima after Thailand and China, where the Tokyo-based firm operates factories. In China, Prima also has a production and sales arm.
Rudi's has established itself as a maker of high-quality sausages and hams with a European taste and leads the deli meats industry in the city-state, Prima said.
Prima will make and sell Rudi's products after buying the Singaporean firm. It also plans to sell Prima products made at its Japanese and Thai plants through Rudi's local network and jointly procure raw materials while aiming to boost productivity by utilizing Prima's production know-how.
"In the Singaporean market alone, we can anticipate profitability because of high-level household incomes and big consumption spending," a Prima spokesperson told NNA on Monday. "After the acquisition, we will endeavor to understand Rudi's operations for the time being and later consider sending staff (from Japan)."
Prima also plans to tap neighboring countries through its Singaporean location, the spokesperson added. (NNA/Kyodo)