KUALA LUMPUR (Oct 8): Oasis Harvest Corp Bhd (KL:OASIS), formerly known as Dolphin International Bhd, said it will continue to pursue mergers and acquisitions (M&A) in the food and beverage (F&B) sector after securing shareholders’ approval for its RM30.8 million cash acquisition of Metta Food & Lifestyle Sdn Bhd.

The proposal, approved with more than 99.99% support at its extraordinary general meeting on Wednesday, will add Metta’s banquet-themed restaurants and cafés under the De.Wan 1958 by Chef Wan and Café Chef Wan brands to Oasis Harvest’s portfolio, the group said in a statement.

Upon completion, Oasis Harvest plans to integrate Metta’s central kitchen and operations with its existing brands — Uncle Don’s and Verona Trattoria — to improve efficiency and streamline supply chains. Metta’s restaurants and cafés were co-founded by celebrity chef Datuk Redzuawan Ismail, better known as Chef Wan, together with chief executive officer Andre Shum Khum Yuin.

The acquisition, first announced in June, comes with a two-year profit guarantee of RM5.6 million. 

“This is just the beginning,” said Oasis Harvest executive director Ch’ng Eu Vern. “Oasis is embarking on a proactive M&A strategy to expand both organically and inorganically. Our goal is to become one of Malaysia’s leading F&B conglomerates, delivering authentic dining experiences while championing Malaysian culinary excellence on the regional stage.”

He added that the transaction comes at an opportune time, as Malaysia’s F&B sector is experiencing strong growth, supported by higher consumer spending, tourism recovery and rising demand for local cuisine.

Shares of Oasis Harvest closed unchanged at 20.5 sen on Wednesday, valuing the group at RM29.45 million.