TPC Acquires Euro-Atlantic to Build Regional Food Systems Platform Under Well-being Economy Strategy

Acquisition of one of Malaysia's leading specialty produce distributor marks TPC's second major capital move, advancing its Food Systems pillar.

SINGAPORE, [24 August 2026] - TPC (Tsao Pao Chee) has acquired a majority stake in Euro-Atlantic, one of Southeast Asia's most established importers and distributors of specialty fruits, vegetables, seafood, and gourmet groceries, operating across Malaysia and serving a customer network spanning leading retailers, hotels, and fine dining institutions.

The acquisition is TPC's second significant transaction under its Well-being Economy investment strategy, which directs long-term capital across six interconnected pillars: Food Systems, Well-being, Energy Transition, Circular Economy, Human Construct, and Climate and Nature. This move falls under the Food Systems pillar and continues TPC's shift from strategy to execution.

Founded in 1992, Euro-Atlantic has built one of Malaysia's most trusted fresh produce and cold chain platforms over more than three decades. Its operations include a fleet of more than 60 cold chain trucks and an over 85,000-square-foot GBI-certified distribution hub, supported by longstanding relationships with major supermarket chains and five-star hotels across Malaysia. Its top customers have, on average, partnered with the company for more than ten years. The business is HACCP-accredited for food safety and sources fresh produce from more than 20 countries across Asia, Australia, Europe and the Americas.

Euro-Atlantic will join TPC's Food Systems business unit and continue operating under its established brand, with continuity for its customers, suppliers, and employees.

Loh Niap Juan, Group Chief Corporate Officer, TPC (Tsao Pao Chee), said:

"Food is central to well-being, not only in what we eat, but how it is grown, sourced, and moved and who it reaches. A food system is healthy only when it supports the whole: the people it feeds, the communities, economies it runs through, and the natural systems it is part of. Euro-Atlantic has built something strong over more than three decades, we intend to build on it, investing in what already works and growing its reach, so that it can help shape a more resilient and responsible food system across the region."

Ebby Loo, Managing Director, Euro-Atlantic, said:

"For 34 years, Euro-Atlantic Malaysia has been guided by a simple belief: that our work should make a meaningful difference to the people we serve. As a member of TPC, we will continue to build on our shared purpose and help shape a more responsible food system across the region.

TPC's Food Systems pillar recognises food as an integral part of natural biodiversity and a fundamental determinant of the well-being of life and community resilience. TPC supports products and models that nourish and heal, while strengthening local ecosystems and economies.

Euro-Atlantic gives TPC the operational backbone to advance this ambition: cold chain infrastructure, food safety standards, supplier networks, and customer relationships built with care over 34 years. TPC's intention is to build on that foundation, to invest in it, extend its reach, and grow it into a regional platform. This is what stewardship means to TPC, to take something entrusted to us and add lasting value to it, so that a well-run national business becomes part of a more resilient and responsible food system across the region.

Beyond Malaysia, Euro-Atlantic will benefit from TPC's established presence across: Singapore, Indonesia, Thailand, Japan, and China through IMC Industrial's logistics network and OCTAVE's regional operating relationships. This gives Euro-Atlantic immediate access to distribution corridors, institutional relationships, and market reach that would otherwise take years to develop independently.

This acquisition follows TPC's recent investment in Refresh Group under its Well-being pillar and reflects the Group's continued commitment to deploying long-term capital across its six strategic pillars. Together, these moves signal TPC's transition from articulating a Well-being Economy to actively building the infrastructure that supports it.