SINGAPORE — Sapphire Investments BV, a wholly-owned subsidiary of Jacobs Douwe Egberts BV (JDE), has agreed to acquire Super Group Ltd., a maker of instant foods and beverages. Under terms of the transaction, JDE is offering Super Group 1.30 Singapore dollars per share, or approximately 1.45 billion Singapore dollars ($1.05 billion), for the company.
The transaction is contingent on Sapphire receiving more than 50% of Super Group’s issued shares. If Sapphire acquires 90% of the issued shares pursuant to the offer, the company said it intends to exercise its rights to acquire the remaining shares and take Super Group private.
|Pierre Laubies, c.e.o. of JDE|
“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. “The company’s long history of leadership, innovation and quality will fit well within our mission to serve our customers with the iconic brands they love.”
Founded in 1987, Super Group is a pan-Asian integrated instant food and beverage brand owner and manufacturer. Under its core Branded Consumer segment, the company and its subsidiaries manufacture and distribute branded consumer products, primarily instant coffee and tea, instant tea mixes and instant cereals, with a portfolio of more than 160 instant beverage and food products distributed in more than 65 countries under multiple brands such as Super, Essenso, OWL and Nutremill. Super Group currently operates 15 manufacturing facilities located in China, Malaysia, Myanmar, Singapore, Thailand and Vietnam.
|David Teo Kee Bock, chairman and managing director of Super Group|
“We are excited to have JDE as our majority shareholder moving forward as we continue to build on the legacy we have established,” said David Teo Kee Bock, chairman and managing director of Super Group.
Jacobs Douwe Egberts is a global coffee and tea company, serving consumers in more than 100 countries through brands such as Jacobs, Tassimo, Moccona, Senseo, L’OR, Douwe Egberts, Kenco, Pilao and Gevalia. The company was formed in 2015 following the merger of D.E Master Blenders 1753 and the coffee division of Mondelez International. The company is majority owned by Acorn Holdings, a subsidiary of JAB Holding Co.JAB Holding has been involved in several major transactions over the past year, most recently the $1.35 billion acquisition of Krispy Kreme Doughnuts, Inc. Earlier, the company acquired Keurig Green Mountain, Inc. for approximately $13.9 billion. JAB also has controlling stakes in Peet’s Coffee & Tea, a specialty coffee and tea company; Caribou Coffee Co., a retailer of premium coffee products; and Einstein Noah Restaurant Group, Inc., an operator of quick-service bagel shops.