Temasek-backed SATS acquires Monty’s Bakehouse UK for $34m

SATS Ltd, a Singapore-listed, Temasek-backed ground handling and aviation food solutions provider, announced its acquisition of Monty’s Bakehouse UK, a provider of meals and snacks to airline customers, for about S$48.4 million ($34.8 million).

In a disclosure to the Singapore Exchange Monday, SATS, which counts Temasek Holdings Pte as its biggest shareholder, said its wholly-owned subsidiary, SATS Investments Pte, had entered into a sale and purchase agreement to acquire 100 per cent of the existing shares of Monty’s Bakehouse UK from existing shareholders. The deal was completed on February 29.

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