GS Holdings completes acquisition of Octopus Distribution Networks
The acquisition strengthens GS Holdings’ footprint in Singapore’s F&B sector with over 200 beverage brands and 1,500 SKUs.
SINGAPORE – GS Holdings has completed its acquisition of Octopus Distribution Networks (ODN), a leading integrated beverage solutions provider in Singapore.
The deal, valued at S$11.8 million (US$9.1M), was fulfilled through a combination of cash and shares. This includes the issuance of S$6.3 million (US$4.9M) worth of new GS Holdings shares, representing 16.01% of the company’s enlarged share capital at S$0.0379 (US$0.029) per share.
The acquisition, initially announced in October 2024, grants GS Holdings access to a broad customer base and expanded scale within the city-state’s beverage supply chain.
ODN currently serves brand principals by distributing alcoholic and non-alcoholic beverages to retailers, wholesalers, venue operators, and exporters.
Founded in 2011, Octopus Distribution Networks has grown into one of Singapore’s leading beverage logistics and distribution groups.
It provides a full suite of services including brand management, import/export, warehousing, and logistics. Its portfolio features over 1,500 stock-keeping units (SKUs) across approximately 200 beverage brands from 50 international brand owners.
Commenting on the transaction, Loo Hee Guan, Executive Director and Acting Chief Executive Officer of GS Holdings, stated: “We are excited to complete the acquisition of ODN, allowing us to extend our reach from just seven F&B establishments to an almost island-wide network of on-trade and off-trade customers. With our strengthened presence in Singapore, we can also start exploring regional opportunities for growth.”
ODN has built a strong market reputation for brand activation within Singapore’s F&B sector, supporting product launches and executing point-of-sale and trade marketing strategies.
In recognition of its operational excellence, the company was named 2022 Top Partner in Southeast Asia in the travel retail and free trade zone categories by a major global spirits company.
For the financial year ended 31 December 2024, GS Holdings posted a consolidated revenue of S$9.24 million. The company anticipates a significant increase in revenue for FY2025, supported by the maiden contribution from ODN.
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