Natural Health Farm Holdings, Inc today announced that it has executed a term sheet to acquire all of the issued and outstanding shares of Excel Herbal Industries Sdn Bhd, a nutraceutical biotechnology manufacturing, organic food and health supplements in Malaysia
Under the agreement, NHF Holdings shall acquire 100% of Excel Herbal Industries Sdn Bhd outstanding shares for USD 2 Million. It is anticipated that NHF Holdings shall complete the due diligence process and closing the transaction within 60 calendar days from the term sheet date.
Vernon Tee, the CEO and President of NHF Holdings said, “the acquisition of Excel Herbal in Malaysia after the previous acquisition with Prema Life Pty Ltd in Australia will help optimise our manufacturing capabilities and solidify our position as nutraceutical biotechnology company at regional level.”
The director of Excel Herbal Industries Sdn Bhd, Lim Soo Yen, added, “With our new and modern facility in Malaysia and Primalife facilities in Australia we can improve our manufacturing processes by sharing best practices and increase our outputs to serve Asia-Pacific region and capture bigger market share in nutraceutical biotechnology space.”
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Date: January 21, 2019
Source: Globenewswire