ThaiBev buys 76% interest in Spice of Asia

The stake was worth $4.7m.

ThaiBev has grabbed a 76% interest in Spice of Asia Co., Ltd. (Spice of Asia) through its wholly-owned subsidiary Food Asia Co., Ltd.

According to an announcement, the acquisition cost $4.7m (THB114.5m), funded through internal resources.

Spice of Asia operates a chain of 10 restaurants within four brands, Cafe Chilli, Chilli Thai Restaurant, Eat Pot, and Pot Ministry. The shops serve hotpot and Thai food.

Spice of Asia is now also an indirect subsidiary of ThaiBev.

The acquisition is not expected to affect company performance for the financial year.

By Jon Sullivan, Public Domain

Visit Singapore Business Review website for other stories.

Your rating: MagBe