Southern Capital secures Malaysia creamer carve-out
Southern Capital Group has completed the MYR1 billion ($240 million) acquisition of F&B Nutrition – a producer of sweetened creamer, an oil-based equivalent of condensed milk – from Malaysian food packaging player Can-One International.
The deal, confirmed by Kuala Lumpur-listed Can-One, was agreed in June 2019 with a price range of MYR800 million to MYR1 billion. The price was based on a forward EBTIDA multiple of 10.5x less approximately...
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