Johnsonville acquires a 100% stake in PrimaBaguz, a Malaysia-based manufacturer of halal meat-based products
Pickering Pacific is delighted to announce that it acted as exclusive financial advisor to Johnsonville, a US-based processed meat manufacturer, on the acquisition of a 100% stake in PrimaBaguz, a Malaysia-based halal meat-based manufacturer, from Ekuiti Nasional Berhad (Ekuinas), a Malaysia government-linked private equity firm.
Established in 1987, PrimaBaguz is a Malaysia-based manufacturer of over 100 premium halal meat-based products such as sausages, cold cuts, meatballs, patties, soup and sauces. It primarily serves global foodservice customers in the Quick Service Restaurant (QSR) and hotels, restaurants and caterers (HORECA) segments. PrimaBaguz sells its products in Malaysia and 11 other countries throughout South Asia and the Middle East. PrimaBaguz employs 330 people at its single location in Malaysia.
This acquisition strengthens Johnsonville’s position in Southeast Asia, in particular Malaysia. Johnsonville will also benefit from PrimaBaguz’s expertise in producing halal-certified meat products and ‘plans to make PrimaBaguz the hub for halal foods in growing markets throughout Asia and the Middle East’. Pickering Pacific is proud to have advised Johnsonville on a third transaction in the region after their acquisition of QB Foods in Singapore in 2015 and a joint venture agreement with Frabelle Foods in the Philippines in 2019.
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About Johnsonville
Johnsonville is one of the leading processed meat companies based in Wisconsin, US. Johnsonville produces products such as sausages, meatballs and other protein items for the retail, wholesale and foodservice markets. Its products are sold in 50 countries around the world, through the retail and foodservice channels.
About Ekuinas
Ekuinas is a Malaysia government-linked private equity fund-management company established in 2009 that acquired PrimaBaguz in 2013. To date, Ekuinas has invested in over 40 Malaysians companies in its core target sectors of education, fast moving consumer goods, oil and gas, retail, healthcare, and services.