Kimly buys six new food outlets for $35.5 million

With this move, Kimly has managed to secure 79 food outlets in total.

Coffee shop operator Kimly has acquired six food outlet properties comprising two coffee shops, three industrial canteen units, and one restaurant unit for a total consideration of $35.5m, a press release revealed. With these acquisitions their total number of food outlets and food stalls stands at 79 and 137, respectively, since its IPO.

Kimly also issued 22 million new shares at $0.25 apiece to satisfy a part of the total acquisition price. The acquired properties will undergo layout improvements, increased seating capacities, and will introduce new food concepts to attract tenants and customers.

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