KUALA LUMPUR: Hextar Industries Bhd has proposed to acquire 100% equity interest in Pacific Office (M) Sdn Bhd, a distributor of office supplies for RM16.5mil cash.

       Hextar, in a filing with Bursa Malaysia, said it entered into a conditional share sale agreement with the shareholders of Pacific Office for the proposed acquisition.

       The acquisition is expected to be completed in the fourth quarter of 2023.

       “Pacific Office has 33 years of experience as a leading player in the stationery and office supplies business. It has a very broad customer database nationwide that will bring added value and synergise with our Hextar existing businesses.

       “Having a huge database of more than 3,500 active customers which is itself rich in business information for us to tap into and to leverage on to move further ahead in the market,” group managing director Benny Ang said.

       Hextar is involved in the manufacturing and formulating bulk blend, mixture and compound fertiliser of fertilisers; trading of various fertilisers while also providing crop management solution.