Hextar Industries Bhd has entered into a share sale agreement to acquire a 51% stake in Woodpeckers Group Sdn Bhd — the master franchise holder of llaollao in Malaysia — for RM177.5 million in cash.
The acquisition involves 412,122 ordinary shares, valuing Woodpeckers Group at RM348 million. The deal also includes a three-year profit guarantee of RM29 million per year.
Hextar Industries Bhd has signed a share purchase agreement to acquire a 51 per cent stake in Woodpeckers Group Sdn Bhd for RM177.5 million in cash.
Following the acquisition, Hextar will hold master franchise rights in Malaysia for two global brands — Luckin and llaollao — creating potential synergies through stronger operational efficiency, wider market reach and improved cost optimisation while keeping both brands independent.
The move is part of Hextar’s broader strategy to diversify into the food and beverage (F&B) retail sector, alongside plans to exit its fertiliser manufacturing business.
Group managing director Benny Ang described the acquisition as a key step in Hextar’s strategic transformation, combining Woodpeckers’ F&B expertise with Hextar’s financial strength to drive long-term growth in Malaysia’s F&B market.
