Famous Amos Singapore has growth potential

PETALING JAYA: Harrisons Holdings (Malaysia) Bhd believes there are growth opportunities for Famous Amos Chocolate Chip Cookie Singapore Pte Ltd. (Amos) in Singapore with the injection of a new dynamic management, marketing team and new geographical regions.

Harrisons recently announced the acquisition of Amos for S $ 5.7 million (RM17.1 million) through its indirect subsidiary Famous Food Co. Pte Ltd.

The group said it saw further expansion through more coordinated marketing efforts, including new retail outlets in Singapore, new business models such as shop-in-shop concept, models for cinema sales, online sales, business sales strategy and new product ranges. of products.

The company added that Amos' sellers are now selling 80% equity and holding 20% ​​equity interests for another 3 years.

"Although the Vendors are very experienced and renowned in this sector and are in their 70s, they are not as active and energetic in expanding the brand and growing the business," the company said.

At Bursa Malaysia, Harrisons tumbled 8 sen or 2.12% to RM3.70 on a volume of 1,000 shares today.

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