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ThaiBev acquires Thailand restaurant chain for 114.5m baht
THAI Beverage Public Co (ThaiBev) has bought a 76 per cent stake in Thailand restaurant chain Spice of Asia for 114.5 million baht (S$4.7 million).
Funding for the acquisition will come from internal resources, said ThaiBev, a Thailand-based food and beverage company.
Spice of Asia runs 10 restaurants under four brands - Cafe Chilli, Chilli Thai Restaurant, Eat Pot and Pot Ministry - that serve Thai food and hotpot concepts. The acquired stake will be held by ThaiBev's wholly owned Food of Asia Co unit.
The acquisition is not expected to have a material impact on earnings per share or net tangible asset per share for the current financial year.