On the evening of December 17, Mousse shares released an announcement that it intends to acquire, through its subsidiaries, 100% of the equity of the Singaporean company MIPL (Mattress International Pte. Ltd.), as well as all the assets of its Indonesian factory PTTC.
The round of transactions totaled SGD 46 million (about RMB 248 million), which is 70.94% of MIPL's actual valuation. MIPL plans to complete the basic payment and handover of assets around the end of September 2025 at the latest.
The acquisition has been approved by all of the company's board of directors, and the acquisition will be fully funded by the company's own and self-funded resources. MIPL said that the acquisition will not have a significant impact on the company's financial condition and operations, will not harm the legitimate interests of the company and shareholders, and is in line with the company's long-term business development and strategic planning.
According to reports, MIPL company for Singapore local well-known bedding, sofa and other home furnishings sales enterprises, with its own brand products Maxcoil, Viro and MooZzz and so on. PTTC has a production base in Batam, Indonesia, which mainly produces bedding, sofas and other home furnishings for MIPL.
For this cross-border acquisition, Mousse further explained that it is in line with the company's international development strategy, which is conducive to improving the layout of the company's overseas production bases, broaden the company's overseas sales channels, and accelerate the company's internationalization process. At the same time with MIPL company in Singapore and Indonesia and other Southeast Asia for many years of operation of the accumulated extensive and efficient sales channels and brand advantages, is conducive to the company to accelerate the layout of the Southeast Asian market, enhance the company's overseas market share, and further enhance the company's core competitiveness.