Malaysian flexible packaging provider Daibochi Bhd is buying plastic packaging printer and manufacturer Mega Printing & Packaging Sdn Bhd for 125 million Malaysian ringgit ($30 million) cash.
As part of the acquisition, Daibochi is entering into a sale and purchase agreement to acquire all 4.5 million shares in MPP.
The deal allows Daibochi to expand its market share and to sustain competitive advantages within the plastic packaging sector and also widen its customer and supplier base, and enhance its product range.
The transaction, expected to be completed by the third quarter of this year, will enable Daibochi Bhd to horizontally expand within the plastic packaging sector.