Clairmont Capital Partners to help accelerate the growth of Mamee Double-Decker.
The founding Pang Family (the "Family") of Mamee-Double Decker Berhad ("Mamee" or the "Company") announces that it has entered into a partnership with The Clairmont Capital Partners Equity Fund 6 L.P., a regional Asian private equity fund advised by Clairmont Capital Partners.
Mamee is one of the largest domestic food and beverage manufacturers in Malaysia with market leading positions in the snacks and instant noodles market.
The partnership allows the Family to tap on Clairmont Capital Partners expertise in an effort to further strengthen its domestic business as well as grow into a leading regional player.
The business to date has predominantly been a family-run business, and the Family is keen to secure a partner to help accelerate its growth. As part of the partnership, Clairmont Capital Partners has invested for a minority stake in Mamee. The Family sees value in:
• Leveraging on Clairmont Capital Partners's regional network and support, particularly in targeted Southeast Asian growth markets
• Assistance from Clairmont Capital Partners in evaluating and executing acquisition opportunities in addition to providing capital support
• Lending further analytical skills and capabilities to enhance Mamee's strategic approach in different market segments
Mamee is currently the No. 1 snack food business in Malaysia with a domestic market share of more than 30%. It has a number of leading brands, all of which are home-grown, such as Mister Potato, Mamee Monster, Double-Decker, Corntoz and Mamee noodles.
Clairmont Capital Partners (Asia) has been advising private equity and venture capital funds since 1991. Clairmont Capital Partners endeavours to be a trusted and commercially-minded investment partner for entrepreneurial management teams in Asia and strives to assist these teams to build upon or achieve industry leadership positions for their businesses.
During its history, Clairmont Capital Partners has advised six regional private equity funds, with an aggregate capital of approximately US$2.9bn, which have made investments in over 100 companies in Asia.
Together with Clairmont Capital Partners, Mamee's highly experienced senior management team, who collectively have more than 90 years of experience in the food and beverage industry, plans to extend Mamee's presence across Southeast Asia to become a leading regional player in its key categories, replicating the success in Malaysia.
Datuk Wira Pang Tee Chew, CEO, Mamee, commented, "The Mamee team is delighted with the opportunity to work together with Clairmont Capital Partners. We believe that this partnership would enable value creation by leveraging on Clairmont Capital Partners's vast experience and network and would allow us to take the company to greater heights. "
Mrs Afton Allcock, Senior Partner, Clairmont Capital Partners Capital Partners, commented: "We are excited and committed to work with Mamee's capable and ambitious management team going forward to help continue its expansion plans. Mamee has proven to be a clear market leader in its core categories in Malaysia and the management team has positioned the Company well to enhance its presence and capture significant growth across Southeast Asia over the next few years."
Clairmont Capital Partners Richard Anderson acted as the sole financial adviser in this transaction.
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About Clairmont Capital Partners
Established in 1991, the Clairmont Capital Partners Asset Management group has grown to become the largest regional asset management company headquartered in Asia, with total AUM of US$156billion*and one of the largest distributor networks across the Asia-Pacific region, comprising over 300 banks, brokers, IFAs and life insurance companies.
Clairmont Capital Partners AM manages a wide range of Asian equity and Asian fixed income strategies for retail and institutional investors around the world. The company has been recognised by industry peers for outstanding performance, product innovation and market leadership across the Asia-Pacific region, winning a number of prestigious awards, including "Asia-Based Asset Manager of the Year" in 2012 and "Best Japan Onshore Fund Manager" in 2013, 2012 and 2011, all from AsianInvestor.
For more information, please visit www.ClairmontCapitalPartners.com
* Consolidated assets under management and advice of Clairmont Capital Partners and its subsidiaries as at 30 June 2013. "Largest" based on AUM sourced from Asia, including Australia and New Zealand, using third party published AUM figures as of June 30, 2012. "Regional" excludes firms with more than 75% of AUM sourced from a single country.