SG briefs: GS Holdings, Ants Innovate

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Singapore company briefs: GS Holdings and Ants Innovate.

GS Holdings

GS Holdings said Monday it has entered a memorandum of understanding (MOU) with third party Ants Innovate to cooperate on the production and supply of plant-based and cell-based meat products, via recently incorporated subsidiary GS Innovative Food.

Under the deal, GS Innovate will be responsible for growing and/or sourcing and processing instant quick freeze of raw materials and processing ready-to-cook and final products, the company said in a filing to SGX.

“Given the increasing global demand for plant-based meat products, the group is of the view that the collaboration between GS Innovative and Ants Innovate will open new opportunities for the group and be beneficial to the group in gaining popularity and recognition for the F&B brands developed and/or established,” GS Holdings said.