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Neo Group to acquire fishball noodle & manufacturing businesses

M&A

Neo Group to acquire fishball noodle & manufacturing businesses

Michelle Zhu Published on Wed, Nov 22, 2017 / 12:44 PM GMT+8

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SINGAPORE (Nov 22): Food caterer Neo Group is in exclusive talks to potentially acquire undisclosed stakes in Jil & Yellowtail and Li Xin (1968) @ ION from their owners, Ng Hui Hui Rebecca and Lim Swee Meng.

An exclusive negotiation agreement was signed between Neo Group and the vendors on Wednesday. Under the agreement, the exclusivity of the negotiations will run from Nov 22 to 30 June, 2018.

Li Xin is primarily involved in the sale of Teochew fishball noodles in food courts and coffeeshops.