No Signboard Holdings has signed a 10-year franchise agreement to develop and operate the Little Sheep restaurant chain in Singapore.
Little Sheep is a Chinese hot-pot eatery which has its origins in Inner Mongolia. It has since grown to more than 280 outlets across China, the US, Canada and Japan, the vast majority of them franchised.
Singapore-listed No Signboard, which has also just taken full control of Danish Breweries less than a year after it bought a controlling 80 per cent interest, plans to open one Little Sheep outlet a year for the next five years before deciding on a longer-term opening rate.
No Signboard executive chairman and CEO Sam Lim believes the Little Sheep restaurant concept has great potential in Singapore.
“Given the popularity of hot pot restaurants among Singaporean consumers over the last couple of years, we are confident that this venture would be a great success for the group.”