KUALA LUMPUR: Catcha Digital Bhd has entered into a share sale agreement to acquire a 70 per cent stake in consumer food expo company Tastefully Malaysia Sdn Bhd for RM7.6 million.
In a filing with Bursa Malaysia Securities, the company said the acquisition reflected Catcha Digital's ambition to grow its integrated digital media business to provide an omnichannel online-to-offline advertising solutions to its client base.
This transaction is expected to contribute positively to Catcha Digital's earnings in the future.
Tastefully operates prominent events across Malaysia, including at major venues such as Mid Valley Exhibition Centre (KL), Mid ValleySouthkey Exhibition Centre (Johor), Sunway Pyramid Convention Centre, and Sabah International Convention Centre.
Catcha Digital added that the acquisition provides significant cross-selling opportunities between its existing advertising client base and Tastefully's clientele.
Catcha Digital will be able to offer Tastefully's in person advertising solutions to its clients while Tastefully can leverage on Catcha Digital's comprehensive digital advertising capabilities and online audiences to enhance its advertising offerings to its clientele primarily food and beverages (F&B) brands.
Catcha Digital chairman PatrickGrove said Malaysia's F&B industry represents one of the most dynamic sectors in terms of consumer engagement and brand building.
"Through this acquisition, we're combining Tastefully's proven expertise in creating high-impact consumer events with Catcha Digital's digital capabilities."
"What particularly attracted us was Tastefully's ability to execute large-scale consumer expos events across Malaysia, and their track record of consistently delivering value to both exhibitors and visitors."
"As brands seek more integrated advertising solutions, we believe this combination will create compelling opportunities for our existing advertisers while opening up new avenues for growth," he added.
Tastefully chief executive officer Esther Fong said by joining the Catcha Digital family, it can now offer exhibitors an integrated advertising solution that spans both physical and digital touchpoints.
"We're particularly excited about leveraging Catcha Digital's digital expertise to enhance our event experience and advertising offerings to our clientele."