Globaltec to Acquire 45% Stake in Chef Wan’s F&B Business for RM20m

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KUALA LUMPUR: Globaltec Formation Bhd has signed a conditional underwriting and shareholders’ agreement to acquire a 45% stake in Metta Food & Lifestyle Sdn Bhd for RM20 million.

In a statement on Friday, the group said it intended to expand Metta’s food and beverage business, namely De.Wan 1958 by Chef Wan & Cafe Chef Wan branded restaurants/cafes.

Metta is a company founded by Andre Shum in 2019.

“Together with Datuk Redzuawan Ismail (or better known as Chef Wan), the multi-award winning international celebrity chef, they created the brands De.Wan 1958 by Chef Wan and also Cafe Chef Wan”.

“Chef Wan, in addition to being the brand ambassador, he organizes recipes and menus for all existing and future F&B outlets and participates in defining strategic directions,” he said. .

Metta is also involved in the sale and production of fast moving consumer goods (FMCG) related to its business, such as its own branded sauces, butter and spices used in everyday cooking.

According to the release, Metta plans to expand its De.Wan 1958 by Chef Wan & Cafe Chef Wan outlets from its current four outlets to 13 outlets in Malaysia over the next two years.

“At present, Metta has already secured rentals and established another De.Wan 1958 outlet and four Cafe Chef Wan outlets in strategic locations by early 2023.

“Metta also intends to leverage its internationally recognized brand and market to sell its FMCG food products regionally,” he added.

Globaltec Chairman Tan Sri TC Goh said that Globatec will raise its profile and recognition by leveraging the international reputation and brand image of a celebrity chef like Chef Wan and F&B outlets at national scale.

“We are delighted to partner with Globaltec, whose strong financial position and corporate finance expertise will be able to fuel the next phase of expansion of our Chef Wan branded restaurants in Malaysia and their potential international expansion. , elevating brands to greater heights,” Shum said.

Meanwhile, Chef Wan said the synergistic collaboration will allow him to further realize his culinary ideas and achieve greater consumer reach.

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