GS Holdings (SGX:43A) signed a binding agreement to acquire Singapore based beverage solutions company, Octopus Distribution Networks for SG$11.8 million, a filing with the Singapore Exchange said on Wednesday.
Octopus has a global portfolio of around 22 beverage brands from 50 global brand owners and provides customized services for both corporate and individual clients.
Shares of the food and beverage company were down over 6% in recent trading.