Tuesday, September 29, 2020

Dusit Foods unit takes majority stake in leading catering company in Vietnam

Jan 22. 2020
Facebook Twitter

By THE NATION

Epicure Catering Company Limited has further expanded its presence in the region with the acquisition of a 51-per cent stake for Bt61.2 million in The Caterers Joint Stock Company (The Caterers), a leading catering company for schools and events in Vietnam. Epicure Catering is a subsidiary of Thailand's Dusit Foods Co Ltd.

Established in 2006, The Caterers employs more than 700 full-time staff and provides over 15,000 fresh meals a day to over 36 leading international and bilingual schools in Vietnam. The company also caters for more than 640 private events per year.

There are approximately 120 international schools in Vietnam, of which 20 per cent outsource their catering, valued at Bt2 billion a year.

With rising demand for private lessons in the English language, driven by a burgeoning population, a substantial expat community in the country and government policies designed to encourage foreign investment in education, the number of international schools in Vietnam is expected to grow.

Operating as a subsidiary of Epicure Catering, The Caterers will now be under the umbrella of Dusit Foods Co Ltd, a wholly-owned subsidiary of Dusit International, one of Thailand's leading hotel and property development companies.

The acquisition will serve to enhance Epicure's standing as the leading provider of quality food services for the educational sector in Southeast Asia.

"We fully support the acquisition of The Caterers, which is perfectly aligned with Dusit Foods' mission to invest in proven and profitable businesses, expand into high growth spaces, and positively serve our communities through the delivery of healthy, wholesome food products," said Jate Sopitpongstorn, Managing Director of Dusit Foods.

"Synergising with Epicure Catering, The Caterers will be well-positioned to continue its domestic growth, cement its position as the leading catering company in Vietnam, and unlock value for all stakeholders."

Trevor Allen, Managing Director of Epicure Catering, said: "The acquisition of The Caterers brings with it enormous potential for the growth and development of the company's services in Vietnam. And by leveraging our own experience and expertise in catering for leading international schools in Thailand, Vietnam, and Cambodia, we aim to drive expansion of The Caterers and deliver consistent revenue streams for long-term shareholder value, and build on these strong foundations to establish market leadership for our company in Southeast Asia".

Tags:
Facebook Twitter
More in Business
Editor’s Picks
wmg-logo
Top News
wmg-logo