SINGAPORE — Dutch coffee & tea giant Jacobs Douwe Egberts (JDE) has secured more than 98 per cent of Super Group by the close on Tuesday (April 25) of its S$1.45 billion takeover. The Singapore firm has more than 160 products in over 65 countries, including Super Coffee, Owl and Essenso instant coffees.
Through its indirectly wholly-owned subsidiary Sapphire Investments, JDE had offered shareholders of Super S$1.30 for each of their shares. Sapphire Investments’ voluntary conditional general offer to acquire all the issued ordinary shares of Super turned unconditional in all respects on March 15 after it and its concert parties acquired about 56.1 per cent of the shares.
In a filing with the Singapore Exchange (SGX) on Tuesday, Sapphire Investments said it and its concert parties have acquired 98.26 per cent of Super shares and will proceed with compulsory acquisition of the balance as it moves to delist the company.
Founded in 1987, Super is a pan-Asian instant food and beverage manufacturer and with 15 factories in China, Malaysia, Myanmar, Singapore, Thailand and Vietnam.
Mr Pierre Laubies, CEO of JDE, said during the offer: “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.
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.”