Thai F&B giant, Minor International, has acquired 100 per cent shares of Singco Trading, which owns Sizzler’s intellectual properties worldwide, except for the US, Puerto Rico and Guatemala.
The deal, expected to be completed by the third quarter of this year, is valued at US$15.5M. Once the acquisition is completed, Minor International will take over Sizzler’s existing 64 restaurants in Thailand and another 10 in Japan.
“This global acquisition opportunity sends a clear signal to the market that our Minor Food is back on a trajectory of remarkable growth and is poised to seize emerging opportunities on an international scale,” said Dillip Rajakarier, group CEO of Minor International. “We will introduce Sizzler to new audiences in other fast-growing markets around the world, including Asean and Middle Eastern countries.”
Minor International currently operates more than 2,500 outlets system-wide in 24 countries under The Pizza Company, The Coffee Club, Riverside, Benihana, Thai Express, Bonchon, Swensen’s, Sizzler, Dairy Queen, Burger King, Coffee Journey and Gaga brands. Minor International’s portfolio of lifestyle brands includes Charles & Keith, Bossini, and Anello.
