BreadTalk signs joint venture agreement to set up BreadTalk Thailand
Published on Aug 1, 2014 9:53 AM
SINGAPORE - Restaurant and bakery group BreadTalk Group has signed a agreement with Thailand's Minor Food Group to set up a 50:50 joint venture to operate a bakery business under the name of BreadTalk Thailand.
This is the first collaboration between the two companies since Minor Food Group, a unit of Minor International, took an 11 per cent stake in BreadTalk Group last year, the companies said in a joint statement on Friday.
BreadTalk Group, listed in Singapore, will invest 103 million baht (S$3.96 million) for its 50 per cent share of BreadTalk Thailand. The joint venture is expected to be established by Sep 30.
"With Minor Food Group as our strategic partner, we will be able to accelerate BreadTalk's store growth in Thailand," said BreadTalk Group chairman George Quek.
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