Kimly expects to complete purchase of two coffeeshops soon

Singapore

CATALIST-listed coffeeshop consolidator Kimly has completed the acquisitions of six food outlets first announced on Feb 21 for S$35.5 million, and will acquire the remaining two coffeeshops for S$20.3 million soon.

Completion of the acquisitions of the two remaining coffeeshops, located at Block 380 Clementi Avenue 5 and Block 347 Ang Mo Kio Avenue 3, can only take place at a later date once the requisite approvals have been obtained from the Housing Development Board. These have been delayed due to Covid-19 disruption, Kimly said in a filing on Wednesday.