Harrisons: Famous Amos Singapore has growth potential

PETALING JAYA: Harrisons Holdings (Malaysia) Bhd believes there is potential for growth 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 its acquisition of Amos for S$5.7 million (RM17.1 million) via its indirect subsidiary Famous Food Co Pte Ltd.
The group said it sees a further growth for expansion through more concerted marketing efforts, including new outlets in Singapore, new business models like shop-in-shop concept, cinema vending models, on-line sales, strategising corporate sales as well as new range of products.
The company added that the vendors of Amos are selling 80% equity interest now and retaining 20% equity interest for up to another 3 years.
“Although the Vendors are very experienced and reputable in this industry, being in their 70’s, they are not so active and energetic in expanding the brand and growing the business,” the company said.
On Bursa Malaysia today, Harrisons tumbled 8 sen or 2.12% to RM3.70 on a volume of 1,000 shares.