I-FERN Corporation, a strong network marketing company founded and managed by president and CEO Tommanny Tan, made a strategic investment by acquiring 100 million Fruitas Holdings Inc. shares from Lush Properties Inc.
The two entities entered into a block sale transaction on 20 December 2022 at an agreed price of P1.225 per share, about 12 percent higher versus the current market price of Fruitas Holdings.
I-FERN is the maker of premium quality health care products like FERN-D, FERN-ACTIV, and MilkCa, to name a few. It also previously included popular vitamin brand FERN-C in its line-up before its sale to STADA, an international pharmaceutical company. Its range of healthcare and supplement products is distributed through its 300,000 strong network marketing system. In 2007, FERN-C breached the P1 billion milestone in sales.
This investment is expected to expand the reach of I-FERN and Fruitas Holdings as both parties have a symbiotic relationship by producing and distributing healthy products to its consumers. A combination of the marketing expertise, broad distribution channels, and experienced manpower of both parties is expected to boost their respective revenues.
Tan said this investment will be a springboard for a partnership with Fruitas Holdings, which will expand the company's revenue stream and distribution structure. "We look forward to and expect a bright future together", Tan said.
On the other hand, according to Lester Yu, president and CEO of Fruitas Holdings, the proceeds of the investment shall be capitalized by Lush Properties as it builds a war chest for potential acquisition targets under the healthcare and self-care industries and further expansion of its current property portfolio.
"The investment of I-FERN is a testament to Fruitas Holdings' strong performance and viable growth potential. We are grateful to Mr. Tan for the trust he has extended to us. We look forward to potential opportunities to cooperate as we serve healthy and affordable products to Filipinos," Yu said.
