Jumbo Group is looking to expand their list of F&B brands with the proposed acquisition of Kok Kee Wanton Mee.

The Food and Beverage company is offering S$2,100,000 for a 75 per cent stake in the dumpling noodle stall, to be payable in two lump sum tranches.

The remaining 25 per cent stake will continue to be held by the current owner, Leong Goh Lian.

70 per cent of the payment will be made in cash from Jumbo's internal resources, and the remaining 30 per cent will be in the form of Jumbo shares.

According to Jumbo, they are "cautiously optimistic" of the future prospects of Kok Kee as it caters primarily to the local mass market, and is well-suited for fast turnover dine-in or takeaway.

They also intend to expand Kok Kee’s network locally and to "geographies beyond Singapore".

Just last year, Kok Kee made headlines when it refused an offer of more than S$2 million for their recipe.

Back then, the owner told Lianhe Zaobao that they would rather take their time and wait for a golden opportunity to expand the business.

Jumbo, like many F&B groups has had a rough year, suffering a net loss of S$8.2 million.

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Image from Kok Kee's Facebook and Google user Wilson Wong