Announced
Financials
Sources
Tags
Private
Friendly
vending machines
Pending
Vending and Catering Service
Majority
Single Bidder
Singapore
Acquisition
Synopsis
Malaysia's Etika, one of the region’s most prominent Halal beverage companies, agreed to acquire Advend Systems, a vending operator, refurbisher of vending machines and systems solutions provider for the vending industry. Financial terms were not disclosed. “As automation starts to gain predominance, we foresee this to be a trend even in the FMCG industry. Etika’s acquisition of Atlas Vending provides a major growth opportunity for us, to expand our business portfolio and provide consumers with a fully automated purchasing experience,” Khalid Alvi, Etika CEO of Malaysia, Singapore and Brunei.
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