GS Holdings buys Octopus Distribution Networks for $11.8m

The founder, Dato' Elaine Toh, will become a controlling shareholder in the group.

GS Holdings Limited will acquire Octopus Distribution Networks, an integrated beverage solutions group, for $11.8m as part of its strategy to expand its customer base and operational scale within the beverage industry.

Under the agreement, Octopus Distribution Networks' founder and chairman, Dato' Elaine Teh, will become a controlling shareholder of GS Holdings.

The group will bring along its management team, which has a combined 80 years of experience in beverage distribution.

The acquisition is expected to  enhance GS Holdings’ capabilities, as Octopus Distribution Networks offers a product portfolio of over 1,500 stock-keeping units from around 200 beverage brands, representing 50 global brand owners.

The group also provides customised services for corporate and individual clients, including market expansion strategies and customer engagement solutions.