The acquisition will provide access to Thailand and Mekong region markets.
BreadTalk Group subsidiary BTG Vault will acquire a strategic interest in NPPG (Thailand) Public Company for $24.26m (THB570m), equivalent to 380 million shares at 6.4 cents (THB1.5) each.
According to an announcement, BTG will buy 15% of NPPG in the first tranche before end-April 2019 and 5% in the second tranche before end-January 2020.
BTG CEO Henry Chu commented, “Our acquisition of this strategic stake in NPPG will provide us with a valuable beachhead in Thailand and potential Mekong region markets. NPPG’s access to a wide coverage of convenience stores in Thailand will offer the Group a ready distribution network for our products in future.”
Do you know more about this story? Contact us anonymously through this link.