Rectitude Holdings Ltd. has made a significant move in the cutlery and handtools industry by announcing its acquisition of MR.BUTLER PTE. LTD. The deal, valued at $800,000, will be executed through the issuance of shares. This acquisition is expected to bolster Rectitude's service capabilities and expand its customer base.

The acquisition, which was formalized through a share purchase agreement on October 12, 2026, will see Rectitude Singapore, a subsidiary of Rectitude Holdings, acquire all issued shares of MR.BUTLER. The business of MR.BUTLER focuses on personal service activities and the repair of household goods.

The consideration for this acquisition consists of 800,000 new Class A ordinary shares of Rectitude Holdings, with an agreed value of $1.00 per share. This represents a total value of $800,000, subject to certain contractual adjustments. A portion of these shares will remain unissued as a holdback, which will be released within ten business days after a six-month retention period, provided there are no unresolved claims.

Completion of the acquisition is contingent upon various conditions, including satisfactory due diligence and the receipt of necessary approvals. If the conditions are not met by November 30, 2026, the agreement may be terminated.

In addition to the acquisition, Rectitude has also entered into business migration agreements with G & L Hardware Marketing Pte. Ltd. and INOS Pte. Ltd. These agreements involve the transfer of customer relationships and contracts, along with related intellectual property and customer data. Each of these agreements will see Rectitude issue 500,000 ordinary shares to the respective sellers, also subject to a one-year lock-up period.

The completion of these business migration agreements is scheduled for November 1, 2026, or another mutually agreed date, and is also subject to similar conditions as the acquisition of MR.BUTLER.

Rectitude Holdings, incorporated in Singapore, operates primarily in the manufacturing sector, specifically focusing on cutlery, handtools, and general hardware. The company is listed on the Nasdaq under the ticker symbol RECT.

This acquisition and the associated agreements mark a strategic expansion for Rectitude Holdings, positioning it to enhance its service offerings and strengthen its market presence in the cutlery and handtools industry.

Details were not available in the SEC filing regarding any further steps following these agreements.