Christine’s Bakery Outlet

KUALA LUMPUR, [8 OCTOBER 2026] — Magma Group Berhad (“Magma” or the “Group”), a Main Market-listed hospitality, property and lifestyle group, is expanding its food and beverage (“F&B”) portfolio through its 80%-owned subsidiary, Magma Food Ventures Sdn Bhd (“MFVSB”), which has entered into a conditional share sale agreement to acquire the entire equity interest in Magma Christine Sdn Bhd (“MCSB”), the holding company of the business behind Christine’s Bakery.

The remaining 20% of MFVSB is held by Evermont Holdings Sdn Bhd. Under the Share Sale Agreement, MFVSB will acquire 100% of the issued and paid-up share capital of MCSB, for a purchase consideration of RM2.8 million in cash, together with the assumption of RM400,000 owing to the vendors.

Following an internal reorganisation completed prior to the SSA, MCSB became the holding company of CL Bakery Sdn Bhd and Kitchen CL Sdn Bhd, which together comprise the bakery and F&B business behind Christine’s Bakery.

The proposed acquisition reflects Magma’s continued diversification into consumer-facing businesses, complementing its interests in hospitality, property development and lifestyle retail. The move is intended to broaden the Group’s revenue base and support long-term growth.

Group Managing Director cum Group Chief Executive Officer Dato’ Sri Thomas Liang Chee Fong said:

“Christine’s Bakery is an established local bakery and F&B brand, and we see an opportunity to build on what has already been developed. We intend to bring Magma’s operational experience and resources into the business while preserving the strengths that have shaped the brand.” 

Building on the Brand

CL Bakery operates a multi-outlet bakery and beverage business under the Christine’s Bakery brand, with 10 outlets across the Klang Valley, supported by central production and related functions. Kitchen CL provides kitchen, food preparation and support functions for the business.

The transaction also includes the intellectual property associated with the business, including its trademarks, trade names, logos, domain names, websites, social media accounts, designs and marketing materials.

Following completion, Magma intends to improve operational efficiency through measures including outlet rationalisation, cost and procurement optimisation, manpower efficiency, product and menu enhancement, and targeted marketing initiatives.

Broadening Magma’s Lifestyle Portfolio

With Christine’s Bakery joining the Group’s portfolio, Magma intends to further expand its presence in the lifestyle segment. The Group seeks to leverage its capabilities across hospitality, F&B operations, customer experience and brand management to support the development of the business.

Dato’ Sri Thomas added:

“Our immediate priority is execution and cost management, rather than rapid outlet growth. Our medium- to long-term strategy for Christine’s Bakery focuses entirely on commercially proven store formats, improved product mix, stronger central kitchen utilisation, and better unit economics. Any future expansion will be evaluated against strict investment hurdle rates to ensure we are building a resilient, complementary consumer-facing business that delivers long-term value for Magma’s shareholders.”

The cash consideration and debt assumption will be satisfied via Magma’s internally generated funds.

Completion of the Proposed Acquisition remains subject to the fulfilment or waiver, as applicable, of the conditions precedent set out in the Share Sale Agreement.