Coffee shop operator Kimly has finalised a deal worth $25.4M to purchase six food outlet properties.
The six properties in questions include two coffee shops, three industrial canteen units and a restaurant. Along with these six, plans are in place to acquire two further coffee shops, but these are pending approval after being delayed by the coronavirus pandemic.
“We continue to look for opportunities to acquire and operate more strategically located food outlets with the view of enhancing long-term shareholder value and the group’s profitability,” read a statement by directors of the group.
“Moving ahead, we remain committed to our strategy to pursue long-term direct ownership in properties where the group operates and manages food outlets to further extend our presence across the heartlands of Singapore.”
