Fashionable Singapore restaurant chain Tremendous Peking Duck seems to be set for accelerated worldwide enlargement.
In response to Bloomberg, Malaysian personal fairness agency Navis Capital Companions has agreed to purchase the model’s Singapore proprietor, Imperial Treasure Restaurant Group.
The corporate has paid between S$60 and $80 million for a majority stake within the enterprise and plans to speed up the model’s rollout in China.
Imperial Treasure was based in 2004 by Alfred Leung who will retain his curiosity and proceed to be concerned with the enterprise. It now has 23 eating places specialising in Chinese language meals and owns a positive eating restaurant at Marina Bay Sands, overlooking the gaming flooring.
Leung is also referred to as the founding father of Crystal Jade Culinary Ideas, bought to the LVMH Group final yr, netting round $100 million.
In line with Bloomberg, the deal and phrases are confidential and neither celebration wished to remark additional on the transaction.
Navis final week purchased Malaysian sweet and snackfood enterprise Cocoaland Holdings.