Hextar Industries Berhad (HIB) is accelerating its pivot into the consumer sector with a massive RM177.5 million cash acquisition of a 51% stake in Woodpeckers Group Sdn Bhd, the master franchisee of the popular frozen yogurt chain llaollao in Malaysia.
The move marks a definitive shift for the former fertilizer specialist, which is simultaneously exiting its legacy agribusiness to become a dominant player in Malaysia’s retail food and beverage (F&B) landscape.
The acquisition prices Woodpeckers Group at a total fair value of RM348 million. As part of the agreement, HIB secures a significant footprint in the frozen dessert market through a nationwide network that currently stands at 131 outlets.
Key financial data behind the acquisition price.
Revenue Growth: Jumped from RM117.8 million (FY2022) to RM150.6 million (FY2024), representing a CAGR of 13.08%.
Profitability: Achieved a Profit After Tax (PAT) of RM30.3 million in FY2024.
Profit Guarantee: The acquisition includes a solid average annual profit guarantee of RM29 million per year over the next three years.
With this acquisition, Hextar Industries now controls the Malaysian master franchises for two global powerhouse brands: the tech-driven Luckin Coffee and the yogurt giant llaollao.
