Magazines Archives - 2008 November

Auric Pacific raises stake in Food Junction to boost industry presence
Story 7 - Food Business Area

SINGAPORE food and consumer products distributor Auric Pacific Group Limited has raised its stake in local food-court operator Food Junction Holdings to a controlling 54.4% stake from 29.9% previously.

A unit of Indonesia’s Lippo Group, Auric Pacific, which markets Sunshine and Top-One bread and bakery products alongside fine wine, announced last September that it had purchased the additional stake through whollyowned subsidiary APG Strategic Investment Pte Ltd.

The shares were bought this year at S$0.55 (US$0.37) per share, a 31% premium over the last transacted price on July 4 before the deal was finalised.

“With the successful completion of the partial offer for Food Junction, we are well poised for further regional expansion in line with our strategy to build a significant core presence in the food and retail industries. We look forward to working with the management of Food Junction on their plans for its food-court and related businesses,” said Stephen Riady, executive director of Auric Pacific. Pte Ltd.


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2008 Nov Stories:

Holiday sales: How much of this will be washed out by the economic storm?

Developers leading green-mall movement in Singapore

The NRA Show remains important as dynamic industry event

Top retailers feted at awards ceremony and gala dinner

Retail developers at ICSC Asia Expo pin hopes on Asian markets

Harvey Nichols boosts MAP’s status as retail powerhouse in Indonesia

Auric Pacific raises stake in Food Junction to boost industry presence

Orchard Central goes Med

US JCPenney launches Australian online portal

ViVOtech extends expertise technology to NFC public trials in Singapore

Elizabeth Arden brings Juicy Couture to Asia

Saigon Co.op on track to open 100 stores by 2015

Takashimaya, H2O Retailing to merge by 2011

bulthaup’s new clean line of furniture shies away from the trendy

Lotte growing aggressively through global acquisitions

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