NPPG (Thailand) Public Company Limited (NPPG) has notified of its Board of Directors’ resolution to enter into an agreement for the acquisition of assets with Kitchen Plus 999 Co., Ltd. through its subsidiary company, NPP Food Incorporation Company Limited. NPPG will acquire the franchise business of Kitchen Plus restaurant and Baan Krua Thai restaurant with the acquisition price of 80 million baht.
NPPG will acquire:
1) 11 branches of Kitchen Plus restaurant, which are being
2) All rights and obligations of the Seller under the franchise agreements, in the capacity as the franchise owner of Kitchen Plus and Baan Krua Thai restaurants executed by the Seller with the franchisees at all 52 branches, as well as other rights and obligations under the related agreements.
3) Trademark/Service Mark under the name “Kitchen Plus”.
4) Kitchen systems, utensils, electrical appliances, office equipment, furniture, decorations and tools used in Kitchen Plus and Baan Krua Thai restaurants.
The acquisition of Kitchen Plus 999 is to follow the strategy to focus on creating a brand for restaurants with efficiency and high potential as well as managing the franchise professionally. While creating the opportunity to boost revenues and appropriate rate of return on a regular basis and to enhance the Company’s business competitiveness in the long run, and to help create the opportunity to increase the Company’s share price and dividend from its operational results in the future.
NPPG will utilize the proceeds from its capital increase from the existing shareholders under the resolution passed by the Extraordinary General Meeting of Shareholders No. 1/2018, held on February 6, 2018, the cash flows in operating activities in the future. The investment will in no way affect NPPG’s financial liquidity.