GS Holdings to acquire Octopus Distribution Networks

GS Holdings has signed a binding agreement to acquire Octopus Distribution Networks, a Singapore-based integrated beverage solutions group, for a purchase consideration of S$11.8 million (AU$13.6 million).

GS Holdings’ Independent and Non-Executive Chairman, Irwin Lim Kee Way, said: “We are pleased to announce the acquisition of Octopus Distribution Networks, which provides the Group with immediate access to a new customer base and operating scale within the beverage sector in Singapore’s F&B industry.

“With fully in-place infrastructure, including personnel and distribution networks, Octopus Distribution Networks has differentiated itself with unique value propositions and a strong base of customers, and we believe that there are significant opportunities for growth in existing and new markets. I trust this next step in our journey together will be incredibly positive for the Group.”

Founded in 2011, Octopus Distribution Networks has grown to become one of the leading integrated beverage solutions groups in Singapore, providing solutions in the areas of brand management, import, export, distribution, logistics and warehousing of alcoholic and non-alcoholic beverages and liquor, for both customers and beverage brand owners.

Currently, Octopus Distribution Networks has a product portfolio of more than 1500 SKUs across approximately 200 beverage brands from 50 global brand owners.

Image caption: Independent and Non-Executive Chairman of GS Holdings Limited Irwin Lim Kee Way with Founder and Chairman of Octopus Distribution Networks Dato Elaine Teh. Image courtesy of GS Holdings.