Kimly looks to buy stakes in coffee shops, canteens for S$59m
Move is in line with its strategy to expand its footprint in Singapore; it will have 81 outlets after the acquisition
Singapore
CATALIST-LISTED coffee shop operator Kimly on Tuesday said that it plans to acquire interests in several coffee shops and industrial canteen units for a total of S$59 million, in a move that will expand the group's footprint to 81 outlets.
Jin Wei Food Holdings, Kimly's wholly-owned subsidiary, has signed a non-binding term sheet with a group of third party vendors to acquire their interests in a portfolio of coffee shop leases, coffee shop units and industrial canteen units.
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