Thailand’s Minor International hikes stake to 70% in Australian arm for $32m

Image from The Coffee Club's facebook

Minor International PCL (MINT), one of Asia’s leading hotel and lifestyle companies, will spend AUD45 million ($32 million) on acquiring additional stake in Australia-based Minor DKL Food Group Pty Ltd (Minor DKL) from a group of existing shareholders.

The move will enhance its shareholding from 50 to 70 per cent.

Minor DKL, one of Australia’s leading retail food brand franchisors, is the Australian subsidiary of Minor International PCL (MINT).

MINT reported to the Stock Exchange of Thailand that it would make the acquisition through its subsidiary Delicious Food Holding (Australia) Pty Ltd.

Of the acquired shares, 18.79 per cent is from The Coffee Club Franchising (Aust) Pty Ltd and the remaining from Matebowl Pty Ltd, Gailglen Pty Ltd, Aprinvale Pty Ltd, Mr Emmanuel Drivas, Mr Emmanuel Kokoris and Mr John Lazarou.

The source of fund will come from bank loans, the statement cited.

The Thai firm forayed into Australia in 2008, when MINT invested 50 per cent in Coffee Club Holding (Australia) Pty Ltd, to expand its food and beverage business abroad.

This acquisition will be another solid strategic expansion of MINT’s restaurant business in Australia as it will gain a controlling stake in Minor DKL.

Minor DKL has a registered and paid-up capital of AUD46 million, divided into 46 million common shares with a par value of AUD1 apiece.

Its restaurant business consists of 439 outlets including 386 outlets operating under The Coffee Club brand name, 13 outlets operating under the Ribs and Rumps brand name and 40 other outlets operating under various brand names including The Groove Train, Coffee Hit, Think Tank Coffee, Veneziano Coffee Roasters and Creatures of Habit.

In July this year, MINT acquired a hotel and a management business in Darwin, Australia, for AUD57.081 million.

Founded in 1978 with a single beachfront resort in Thailand, MINT currently trades on Thai bourse and operates over 1,500 restaurants, 250 retail trading outlets and 110 hotels and resorts in 33 markets from Africa to Australia, with popular brands such as Sizzler, Dairy Queen, Burger King, Anantara, Four Seasons and Marriott.

Suggested stories:

Thailand’s MINT scales up investment budget to acquire distressed hopitality assets

Thailand’s MINT makes two acquisitions in Australia for $42m

Thai hotel chain MINT to takeover all Tivoli hotels in Portugal

 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.