LISTED firm Aboitiz Equity Ventures said its food unit, Aboitiz Foods, has completed the acquisition of Singapore-based animal nutrition firm Diasham Resources, expanding its specialty nutrition portfolio and manufacturing base in Asia.
The deal was carried out through Aboitiz Foods’ subsidiary Gold Coin Management Holdings, which acquired 100 percent of Diasham’s equity. Final consideration remains subject to customary closing adjustments, including cash, debt-like items and working capital, the company said.
Founded nearly 50 years ago, Diasham manufactures and distributes feed additives, water-soluble products, injectables and liquid solutions for animal health. It has established distribution networks across the Asia-Pacific region, including Southeast Asia, China, South Korea and the Philippines.
“This acquisition gives us a more complete range of products and solutions to offer our customers across the region,” said Tristan Aboitiz, president and chief executive officer of Aboitiz Foods.
The transaction builds on Aboitiz Foods’ regional expansion, following its entry into Vietnam more than a decade ago and the 2018 acquisition of Gold Coin Management, now its largest operation outside the Philippines. / KOC