CATERING company Neo Group has entered into an exclusive negotiation agreement to acquire a chain of Teochew fish ball noodles foodstalls and its related food manufacturing business.
Neo has until June 30, 2018 to reach a deal to acquire Jil & Yellowtail Pte Ltd and Li Xin (1968) @ ION Pte Ltd from individuals Lim Swee Meng and Rebecca Ng.
The pricing of the potential acquisition has not been set.
Li Xin sells fish ball noodles at a number of food courts and coffee shops in Singapore. Jil produces fish balls, fishcakes, fish dumplings, fried pork lard and sambal chilli, which are all supplied and sold mainly to Li Xin outlets in Singapore.