Business
HomesToLife Ltd Announces Acquisition of HTL Marketing Pte Ltd, with 2024 Sales of US$330 Million
Singapore, May 05, 2025 (GLOBE NEWSWIRE) -- HomesToLife Ltd (NASDAQ: HTLM) (“HomesToLife” or the “Company”), the holding company of one of the leading home furniture products retail chains in Singapore, today announced that it has entered into a definitive sale and purchase agreement (the “Sale and Purchase Agreement”) with New Century International Homes Pte Ltd (“New Century”) to acquire 100% of equity interests in HTL Marketing Pte Ltd (“HTL Marketing”), a leading B2B procurer and supplier of
About this update from Homestolife Ltd
[{"type":"image","alt":"HomesToLife Ltd","displaySize":"","headline":null,"caption":"HomesToLife Ltd","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":71,"url":"https://media.zenfs.com/en/globenewswire.com/c67e85382bc6aafb2371da3ce8a53e52"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/YQbU5vaUE4Q2AM3og_ovJQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTk5O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/c67e85382bc6aafb2371da3ce8a53e52","width":300,"height":71}},"lazy":false},{"type":"text","content":"Singapore, May 05, 2025 (GLOBE NEWSWIRE) -- HomesToLife Ltd (NASDAQ: HTLM) (“HomesToLife” or the “Company”), the holding company of one of the leading home furniture products retail chains in Singapore, today announced that it has entered into a definitive sale and purchase agreement (the “Sale and Purchase Agreement”) with New Century International Homes Pte Ltd (“New Century”) to acquire 100% of equity interests in HTL Marketing Pte Ltd (“HTL Marketing”), a leading B2B procurer and supplier of premium upholstered sofas and leather materials for sofa manufacturing (the “Acquisition”). The Company expects that the Acquisition will enable HomesToLife to leverage HTL Marketing's international network and customer base to access extensive global market opportunities, generate numerous synergies in sourcing, manufacturing, and distribution, and drive substantial growth in both revenue and profitability.","length":916,"tagName":"p"},{"type":"text","content":"Under the terms of the Sale and Purchase Agreement, in exchange for acquiring HTL Marketing, HomesToLife Ltd will issue to New Century 75,000,000 ordinary shares, par value US$0.0001 per share (the “Ordinary Shares”), which will be subject to two-year lock-up restrictions.","length":273,"tagName":"p"},{"type":"text","content":"HTL Marketing, based in Singapore, procures upholstered sofas from various factories located in China, India, Vietnam and Italy, and exports its products to about 50 countries in Europe, Asia-Pacific, and North America through a broad network of sales partners and retailers. In fiscal year of 2024, HTL Marketing achieved sales of US$330 million, of which Europe, Asia-Pacific, U.S. and Canada accounted for 59%, 28%, 8% and 5%, respectively.","length":443,"tagName":"p"},{"type":"text","content":"In fiscal year of 2024, HTL Marketing recorded a p...