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FOOD & BEVERAGE | Staff Reporter, Singapore

Kimly snaps up a coffee shop and industrial canteen for $1.5m

The acquisition will be funded through the issuance of new shares.

Singapore's largest traditional coffee shop operator Kimly went on a shopping spree as it eyes expanding its kop=itiam empire further.

It has acquired and paid $850,000 to manage and operate Yong Yun coffee shop, located at Block 631 Bedok Reservoir Road. The group also paid $650,000 for the acquisition of an industrial canteen at Primz Bizhub in Woodlands Close.

The acquisitions will be funded through the issuance of around 3 million new shares, RHB said in its daily news bulletin.


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