Tri-Stage invests in JML Singapore by buying majority stake
JML, the UK-based as seen on TV retailer, has signed a landmark deal to sell a 75% stake in its Singaporean subsidiary to Tri-Stage Japan, a publicly listed provider of TV home shopping airtime and direct marketing support services.
The deal gives Tri-Stage a 75% stake in JML Singapore. JML UK will retain a 15% stake in the company, with the final 10% being held by Responze TV.
JML Singapore will continue to be headed by managing director Joline Lee.
As a member of the Tri-Stage Group, JML Singapore will have extended access to products from Japan and Korea in addition to those from JML UK. The deal will also help JML to benefit from strong retail growth in the ASEAN region.
The sale is part of JML’s plans to broaden its product range and reach through worldwide strategic distribution partnerships.
Ken Daly, chief executive of JML, said: “This is a great deal for JML, for Tri-Stage, for the team in Singapore and Hong Kong, and it’s a great deal for our customers. We believe this secures a very exciting future for JML Singapore. This furthers JML Group’s strategy of accelerating our international expansion through strong distribution partners across the globe.”
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