Corporate digest

Natural Cool Holdings

AIR-CONDITIONING company Natural Cool Holdings is moving into the food and beverage business through a deal to acquire two snack manufacturing businesses for S$980,000 in cash via a new 80 per cent subsidiary, the company announced on Tuesday before the market opened.

Natural Cool has put up S$80,000 for an 80 per cent share in newly incorporated SFB Holdings. The remaining 20 per cent of SFB Holdings is held by one Leong Yew Meng, who also controls privately held Yummy YM and SFB Global. SFB Holdings will acquire the businesses and relevant assets of Yummy and SFB Global from those companies for S$980,000 in cash.