From left: iMedia Asia Sdn Bhd CFO Jacky Tee, Tastefully Malaysia Sdn Bhd business consultant Carrie Ee, Tastefully Malaysia business development director Lee Jing Yee, Tastefully Malaysia CEO & Co-founder Esther Fong Shal Thing and Catcha Digital Bhd group CEO Eric Tan.
KUALA LUMPUR: Catcha Digital Bhd
has entered into a share sale agreement to acquire a 70% equity interest in Tastefully Malaysia Sdn Bhd, a food expo company, for RM7.6mil in cash.
Catcha Digital said the cash consideration will be paid in four tranches over 36 months. The payments are tied to the achievement of the expected profit after tax (PAT) during this period, starting from the completion date of the sale and purchase of shares.
The expected PAT is broken down as follows: RM0.5 million for the calendar year 2024, RM1.1mil for the 12 months after completion, RM1.4mil for the 13 to 24 months after completion, and RM1.6mil for the period from 25 to 36 months after completion.
“This strategic acquisition marks Catcha Digital's ambition to continue growing its integrated digital media business to provide an omnichannel online-to-offline advertising solutions to its client base.
“This transaction is expected to contribute positively to Catcha Digital's earnings in the future,” it said in a statement.
"The F&B industry in Malaysia represents one of the most dynamic sectors in terms of consumer engagement and brand building. Through this acquisition, we're combining Tastefully's proven expertise in creating high-impact consumer events with Catcha Digital’s digital capabilities.
“What particularly attracted us was Tastefully's ability to execute large-scale consumer expos events across Malaysia, and their track record of consistently delivering value to both exhibitors and visitors. As brands seek more integrated advertising solutions, we believe this combination will create compelling opportunities for our existing advertisers while opening up new avenues for growth," Catcha Digital chairman Patrick Grove said.
