The Aboitiz Equity Ventures Inc.'s (AEV) food group, Aboitiz Foods, through its subsidiary Gold Coin Management Holdings Pte. Ltd. (GCMH), has completed the acquisition of Singapore-based manufacturer and distributor of high-quality animal nutrition and health solutions, Diasham Resources Pte. Ltd. (Diasham).

In a statement on Monday, Aboitiz Foods announced that the conditions have been met for the full equity acquisition of Diasham, which significantly expands Aboitiz Foods' specialty nutrition portfolio and strengthens its manufacturing capabilities.

“The final consideration is subject to customary closing adjustments, including cash, debt-like items, and working capital,” Aboitiz Foods said.

Diasham, with nearly five decades of expertise, is well-regarded for its high-quality solutions, including feed additives, water-soluble products, injectables, and liquid products, serving a broad customer base across the Asia-Pacific region.

The Singaporean firm has established distribution networks in key markets — including Thailand, Indonesia, China, Hong Kong, South Korea, Taiwan, Philippines, Vietnam, Malaysia and Bangladesh — bolstering Aboitiz Foods’ regional footprint.

“This acquisition gives us a more complete range of products and solutions to offer our customers across the region,” said Tristan Aboitiz, president and CEO of Aboitiz Foods.

“Diasham has built a strong legacy and developed deep customer relationships over many decades; factors that mattered very much in

our decision to engage in this transaction. We look forward to carrying on the legacy and to working with the talented team at Diasham to continue to enhance how we add value to our customers’ businesses across the region,” he added.

Further, Aboitiz Foods said the acquisition builds the company’s successful expansion in Asia, following its initial international investment in Vietnam over a decade ago and the 2018 acquisition of GCMH, which now represents the company’s largest operations outside the Philippines.

Aboitiz Foods is an integrated regional food and agribusiness company driven by its massive transformative purpose, “Sustainably Feeding Asia’s Growth from Mill-to-Meal,” committed to growing sustainably alongside Asia’s evolving needs.