PTT Oil and Retail Business Public Company Limited (OR) to acquire a 25% stake in Dusit Thani Public Company Limited (DUSIT) meals enterprise subsidiary, Dusit Food.
DUSIT goals to mix its strengths in upstream, midstream, and downstream meals companies with OR’s experience in working main retail distribution channels – together with nearly 2,500 PTT Stations and over 4,000 Café Amazon retailers – to attain a number of life-style segments, assist native meals companies develop domestically and internationally, and ship sustainable worth throughout your complete provide chain, each inside and out of doors of Thailand.
The funding settlement was formally signed at Baan Dusit Thani in Bangkok, the place Suphajee Suthumpun, Group CEO, DUSIT; La-ead Kovavisaruch, chief funding officer for DUSIT; Jiraphon Kawswat, president and CEO, and Somyot Kongprawet, senior government vice chairman, Lifestyle Business, had been current. “This alliance will leverage OR’s robust retail platform and retail expertise and our own extensive knowledge in upstream, midstream, and downstream food businesses to meet the needs of multiple lifestyle segments in Thailand and abroad,” says Suthumpun.
Suthumpun defined that, as a part of its imaginative and prescient ‘to bring Asia to the world,’ Dusit Foods itself prioritises investing in meals companies that place significance on pure, natural, and good-for-health processes whereas additionally supporting native communities. “As part of our company’s three-pronged strategy for balance, expansion, and diversification, we have invested in food businesses that are not only related to our core hotel business, but which also have high growth potential and cover the total supply chain. We expect all these food businesses to flourish under our alliance with OR, plus further opportunities to expand domestically and internationally,” Suthumpun concludes.
“Our alliance with DUSIT through Dusit Foods will enhance the potential of OR’s lifestyle business, especially the food segment, which will benefit the outlets owned by OR and those we have co-invested in,” says Kawswat. “One of OR’s missions is to create an alternative food business model that facilitates convenience and comprehensively meets all the lifestyle preferences of multigenerational consumers. Following our focus on Outside-In growth, which includes seeking investment opportunities with partners in new markets, this new model will also allow us to flourish with other Thai brands, locally and internationally.”
Dusit Foods’ funding portfolio presently consists of Epicure Catering Co., Ltd., a main supplier of meals and beverage providers to the worldwide college business with a market share of over 70% in Thailand; The Caterers Joint Stock Company Limited, or ‘The Caterers,’ a chief in college catering and off-site receptions in Vietnam; and KAUAI, a common wholesome fast-casual restaurant chain from South Africa, which Dusit Foods introduced to the Thai market and plans to develop throughout Asia.
Most not too long ago, Dusit Foods concluded an settlement to acquire a 55% stake in Bonjour Bakery Asia Co., Ltd., which operates a state-of-the-art baking manufacturing facility producing French-style pastry merchandise in the Eastern Seaboard Industrial Estate, Rayong Province, and its related bakery franchise enterprise, comprising greater than 50 branches throughout Thailand and one in China.