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ABR Holdings, the food and beverage (F&B) company which owns and operates Swensen's in Singapore, announced on Wednesday its proposed acquisition of the catering group, Chilli Padi.
ABR said: "The board believes the proposed acquisition will enhance the F&B selections within the group's portfolio and bring in an established brand into the group's business, as well as expand its revenue base."
ABR on Wednesday entered into a memorandum of understanding with shareholders of Chilli Api Catering, Chilli Padi Nonya Catering, and Chilli Padi Nonya Restaurant - Patricia Lee, Lee Boon Hwa and Lee Cheng Watt - in relation to the proposed acquisition of their entire shareholdings in the target companies.