Singapore’s Sun Venture buys remaining 30% stake to take full ownership of PSGourmet

SINGAPORE-based investment firm Sun Venture has fully acquired PSGourmet – the parent of restaurant chain PS.Cafe – for an undisclosed sum, following a previous report that it was considering a deal to buy over the remaining shares it did not own in the company.

The directors of the PSGourmet group – Richard Chamberlain, Peter Teo and Philip Chin – transferred their remaining shares to SV Petit, a holding company owned by Sun Venture, on Oct 17, according to documents seen by The Business Times. Chamberlain, Teo and Chin each held 30,082 ordinary shares with a paid-up capital of about S$58.8 million.

Sun Venture previously owned 70 per cent of PSGourmet through SV Petit, which was incorporated in February 2021.