ABR Holdings takes remaining 20% stake in Chilli Padi catering group for S$4.4m

FOOD and beverage company ABR Holdings 533 has acquired the remaining 20 per cent stake in catering group Chilli Padi Holding for a consideration of S$4.4 million, the company announced in a bourse filing on Tuesday (Mar 15).

Following the completion of the agreement, Chilli Padi Holding will be a wholly-owned subsidiary of ABR Holdings, which owns and operates Swensen's in Singapore.

The acquisition of the remaining 20 per cent stake comes after the exercise of the put option by Chilli Padi Holding's non-controlling shareholder in accordance with the sale and purchase agreement back in July 2017.

Both parties had agreed that the consideration for the acquisition will be S$4.4 million, and the completion date will be no later than Mar 15.

Shares of ABR ended Tuesday flat at S$0.445.