ID :
207258
Thu, 09/15/2011 - 08:47
Auther :
Shortlink :
https://oananews.org//node/207258
The shortlink copeid
MALAYSIA EQUITY FIRM INVESTS US$31 MLN IN BURGER KING, SAN FRANCISCO COFFEE
KUALA LUMPUR, Sept 15 (Bernama) -- Malaysian state-owned private equity fund management firm Ekuiti Nasional Bhd (Ekuinas) has invested RM98.2 million (US$31.7 million) in Burger King (BK) and San Francisco Coffee (SFC).
In a statement on Thursday, Ekuinas said the investments would see it aggressively expanding the Malaysian operations of Burger King, a global leader in quick service restaurants and Francisco Coffee, a coffee chain.
"Ekuinas intends to further invest in established local and global food and beverage (F&B) brands with the aim of creating a leading Malaysian F&B group with a diversified portfolio of investments in full service, fast food, cafe desserts and local cuisine restaurant brands," it said.
It said the BK deal cost RM68.2 million (US$22.04 million), comprising capital injection into Cosmo Restaurants Sdn Bhd, the Malaysian franchisee for BK, together with an acquisition of the minority shareholders' existing stake in Cosmo for a total equity stake of 74.1 per cent.
Meanwhile, Ekuinas said the acquisition of SFC involved the acquisition of 90 per cent stake in Lyndarahim Ventures Sdn Bhd, owner and operator of SFC, for RM17.5 million (US$5.65 million).
"An additional RM12.5 million (US$4.04 million) investment has also been allocated to further expand the specialty coffee operations regionaly as well as to invest in additional F&B brands," it said.
Ekuinas chairman Raja Arshad Raja Tun Uda said the company is pleased to undertake these investments given the F&B sector is one of its six core sectors.
"With an overall market size of RM23 billion (US$7.43 billion), out of which the chained F&B segment is estimated to be worth RM5.6 billion (US$1.81 billion), the Malaysian food service industry is certainly sizeable and offers significant growth potential," he said.
In a statement on Thursday, Ekuinas said the investments would see it aggressively expanding the Malaysian operations of Burger King, a global leader in quick service restaurants and Francisco Coffee, a coffee chain.
"Ekuinas intends to further invest in established local and global food and beverage (F&B) brands with the aim of creating a leading Malaysian F&B group with a diversified portfolio of investments in full service, fast food, cafe desserts and local cuisine restaurant brands," it said.
It said the BK deal cost RM68.2 million (US$22.04 million), comprising capital injection into Cosmo Restaurants Sdn Bhd, the Malaysian franchisee for BK, together with an acquisition of the minority shareholders' existing stake in Cosmo for a total equity stake of 74.1 per cent.
Meanwhile, Ekuinas said the acquisition of SFC involved the acquisition of 90 per cent stake in Lyndarahim Ventures Sdn Bhd, owner and operator of SFC, for RM17.5 million (US$5.65 million).
"An additional RM12.5 million (US$4.04 million) investment has also been allocated to further expand the specialty coffee operations regionaly as well as to invest in additional F&B brands," it said.
Ekuinas chairman Raja Arshad Raja Tun Uda said the company is pleased to undertake these investments given the F&B sector is one of its six core sectors.
"With an overall market size of RM23 billion (US$7.43 billion), out of which the chained F&B segment is estimated to be worth RM5.6 billion (US$1.81 billion), the Malaysian food service industry is certainly sizeable and offers significant growth potential," he said.
