Singapore’s Yeo Hiap Seng increases investment in organics
Dated: 23 April 2007
Singaporean food-and-beverage manufacturer Yeo Hiap Seng (YHS) and American natural- and organic-food company Hain Celestial are deepening their ties with a plan to exchange $6 million in equity investments in each other.
Since 2005, the companies have collaborating on the expansion of distribution channels and geographical markets as well as cross-selling, spanning Asia (including Singapore, Malaysia, Hong Kong and China) and in the US, Canada and Europe. Additionally, the companies plan to establish two joint ventures to pursue joint interests in marketing and distribution of food and beverages, and product development.
This latest deal will translate into the issuance of 196,464 shares of Hain Celestial's stock to YHS and the issuance of 4,044,800 ordinary shares of YHS (representing less than one percent of the outstanding shares) to Hain Celestial.
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