Affinity in talks to buy Penang-based Golden Fresh

KUALA LUMPUR: Buyout firm Affinity Equity Partners is in talks to acquire Malaysian seafood supplier Golden Fresh Sdn Bhd, according to people familiar with the matter.

Affinity is negotiating terms of a deal and could reach an agreement as soon as the coming weeks, the people said, asking not to be identified because the matter is private. A deal that could value Penang-based Golden Fresh at around RM1.3bil (US$290mil), according to the people.

There’s no certainty the deliberations will lead to a transaction and another buyer could still emerge, the people said. Representatives for Affinity and Golden Fresh didn’t respond to requests for comment.

Golden Fresh, founded in 1989, makes products under the "Pacific West” brand. - BloomberG