Corporate digest

ABR Holdings

ABR Holdings has terminated its conditional joint venture with Palate Group by mutual consent. The joint venture, All Best Foods, announced earlier this year, was meant to tap the industry knowledge and experience of Palate Group's founder to manage and further develop ABR Holdings' food and beverage brands.

But the board has decided to end the joint venture and ABR has bought over the 49 per cent stake that Palate Group held in All Best Foods for S$2.94 million. All Best Foods is now a wholly owned subsidiary of ABR. The key founder of Palate Group has also resigned from all offices held in All Best Foods and its subsidiaries.