I-FERN Corporation, a strong network marketing company founded and managed by President and CEO Tommanny Tan, made a strategic investment by acquiring 100 million Fruitas Holdings Inc. (FRUIT) shares from Lush Properties Inc. (LPI).
The two entities entered into a block sale transaction on December 20, 2022 at an agreed price of Php 1.225 per share, about 12% higher vs the current market price of FRUIT.
I-FERN is the maker of premium quality health care products like FERN-D, FERN-ACTIV, and MilkCa to name a few. It also previously included popular vitamin brand FERN-C in its line-up before its sale to STADA, an international pharmaceutical company. Its range of healthcare and supplement products is distributed through its 300,000 strong network marketing system. In 2007, FERN-C breached the Php1 billion milestone in sales.
This investment is expected to expand the reach of I-FERN and FRUIT as both parties have a symbiotic relationship by producing and distributing healthy products to its consumers. A combination of the marketing expertise, broad distribution channels, and experienced manpower of both parties are expected to boost their respective revenues.
Tan stated that this investment will be a springboard for a partnership with FRUIT, which will expand the company’s revenue stream and distribution structure. “We look forward and expect a bright future together”, said Mr. Tan.
On the other hand, according to Lester Yu, President and CEO of FRUIT, the proceeds of the investment shall be capitalized by Lush Properties as it builds a war chest for potential acquisition targets under the healthcare and self-care industries and further expansion of its current property portfolio.
“The investment of I-FERN is a testament of Fruitas Holdings’ strong performance and viable growth potential. We are grateful to Mr. Tan for the trust he has extended to us. We look forward to potential opportunities to cooperate as we serve healthy and affordable products to Filipinos,” Yu said.