Metta, Operator Of Chef Wan's Restaurant, Eyes Local And Overseas Expansion After Oasis Acquisition

KUALA LUMPUR, Oct 8 (Bernama) -- Metta Food and Lifestyle Sdn Bhd, the operator of Chef Wan Group of Restaurants, is targeting local and international expansion following the acquisition by Oasis Harvest Corporation for RM30.8 million.

Metta chief executive officer Andre Shum said the acquisition marks a new chapter for the restaurant group, co-founded by the national culinary ambassador Datuk Redzuawan Ismail, in positioning itself as a representative of Malaysia's culinary identity.

"With the strategic position of the Chef Wan Group of Restaurants, we stand on a very strong footing. We are not only running a food and beverage (F&B) business, but also representing Malaysia.

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"Moving forward with this new chapter under Oasis, we are looking at expansion not only locally but also overseas," he said in a joint press conference by Oasis and Metta here today.

He noted that the group also plans to explore new domestic markets beyond Malaysia's West Coast and expand into the East Coast.

Andre added that, despite the current softness in the retail market, the group's performance remains resilient, supported by strong financial results and operational optimisation through automation, enterprise resource planning (ERP) and artificial intelligence (AI).

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"We have optimised our manpower with the help of automation, ERP and AI, and we are confident that in the next financial year we will thrive, particularly with our planned expansions and overhead optimisation," he said.

The Chef Wan Group of restaurants currently operates two main brands: De.Wan 1958 by Chef Wan, which has three outlets and Cafe Chef Wan, which has four outlets and another two licensed outlets.

Meanwhile, Oasis executive director Ch'ng Eu Vern said the acquisition of Metta provides a foundation for the group to fully integrate the F&B business, combining premium dining, operational efficiency, and strong local branding.

"Oasis is pursuing a proactive mergers and acquisitions (M&A) strategy to expand both organically and inorganically.

"Our goal is to become one of Malaysia's leading F&B conglomerates, delivering authentic dining experiences while championing Malaysian culinary excellence in the region," he said.

The acquisition, which carries a two-year profit guarantee of RM5.6 million, comes at a timely juncture as Malaysia's F&B sector continues to experience robust growth, supported by increasing consumer spending, tourism recovery, and the rising appeal of local cuisine.

The group aims to leverage the market trends by combining the strong financial capabilities, brand synergy, and innovative business models to drive long-term value creation for its shareholders.

-- BERNAMA