GLOBAL Yellow Pages has agreed to buy the intellectual property rights including recipes and formulae held by Wendy's Supa Sundaes (WSS) and Innovation Ice Cream (IIC) for A$10 million (S$11.67 million).
The sellers are ultimately owned substantially by private equity firm, Navis Capital Partners, which acquired the business in July 2006.
The Singapore-listed company said it believes there is "significant potential for further expansion of the ice-cream retail business in Asia, especially the People's Republic of China".
Its indirect wholly-owned subsidiary, Global Food Retail Group, had entered into the sales and purchase agreement on August 31, 2014.
'via Blog this'
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