MAIN Board-listed food & beverage (F&B) player Oasis Harvest Corp Bhd (formerly Dolphin International Bhd) has proposed to acquire 100% stake in Metta Food & Lifestyle Sdn Bhd for RM30.8 mil cash to equip its culinary portfolio with the renowned dining brands of “De.Wan 1958 by Chef Wan” and “Cafe Chef Wan.”
Metta, through its acclaimed culinary establishments, is well-known for banquet-themed dining experiences and cafes that capture diverse culinary tastes.
Therefore, this strategic acquisition enables Oasis Harvest to broaden its culinary offerings, benefiting from Metta’s market recognition, operational expertise and the prestigious reputation of international celebrity chef Datuk Redzuawan Ismail who is famously known as Chef Wan.
“This acquisition perfectly aligns with our strategic vision to diversify and strengthen our offerings in the F&B, travel, leisure, and hospitality sectors,” commented Oasis Harvest’s executive director Ch’ng Eu Vern.
“Chef Wan’s prominent brands will significantly complement and expand our existing portfolio.”
The acquisition includes a profit guarantee from the vendors by ensuring that Metta achieves a cumulative audited profit after tax (PAT) of at least RM5.6 mil over a two-year period ending June 30, 2026, thus reflecting strong confidence in the long-term growth and profitability of the enlarged group.
Post-acquisition, Oasis Harvest intends to streamline Metta’s operations with its existing brands such as Uncle Don’s and Verona Trattoria.
Leveraging Metta’s central kitchen is expected to enhance operational efficiency, cost management and consistency of food quality across the group’s establishments.
“We are dedicated to creating a cohesive and integrated ecosystem across our brands to optimise shared resources, enhance our market presence and deliver improved profitability,” stressed Ch’ng.
“This strategic acquisition strengthens our competitive edge and underscores our commitment to offering exceptional dining and hospitality experiences.”
The acquisition will be financed partly by re-allocating existing proceeds and supplemented by bank borrowings.
Pending approval by shareholders and relevant authorities, Oasis Harvest anticipates this corporate exercise to contribute positively to the group’s earnings and overall shareholder value.
With Malaysia’s F&B and hospitality sectors displaying robust growth driven by tourism and consumer spending, Oasis Harvest remains optimistic about its future prospects.
“This strategic move itself highlights the group’s on-going dedication to innovation, outstanding service and sustainable growth for all stakeholders,” added Ch’ng.
At the close of today’s (June 4) market trading, Oasis Harvest was unchanged at 17 sen with 568,300 shares traded, thus valuing the company at RM25 mil. – June 4, 2025
