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KUALA LUMPUR: Sedania Innovator Bhd has proposed to acquire a 51% stake in personal care and food supplements brand Tanamera Group Sdn Bhd for RM8.18mil cash.
In a statement, the group said it is solidifying its position in the sustainable healthcare segment, which is currently represented by 51%-owned subsidiary Offspring Inc, a premium organic baby brand.
The proposed acquisition, which will be funded internally, is expected to be completed by Q1FY24.
"The strategic alliance not only allows Sedania to capture a bigger wallet share of household spending but also extends our value chain and cements our new role as the trailblazer in Sustainable Healthcare, equipped with the capacity for design and manufacturing.
"This allows us to rationalise our product range, strengthen our unique selling proposition, and ultimately improve our margins," said Sedania founder and managing director Datuk Azrin Mohd Noor.