DUSIT Invests THB284 Million in Bonjour Bakery to Strengthen Its Food Business

Thailand’s top hotel chain Dusit Thani Public Company Limited (SET: DUSIT) announced on Monday the investment of its subsidiary Dusit Foods Company Limited (DF) in the bakery manufacturing and retailing business in Thailand and China under the brand “Bonjour”.

The company and Goldway Enterprises Hong Kong Limited (GEHK), a company incorporated in the Hong Kong Special Administrative Region of the People’s Republic of China, jointly established Bonjour Bakery Asia Company Limited (BJBA) to acquire all shares in the following companies: (a) Bonjour Co., Ltd. which engages in the bakery retail and franchise business; (b) Port Royal Co., Ltd. which engages in the bakery manufacturing business with a factory located in Rayong; (c) BAKEIP Limited which engages in licensing the intellectual property from GEHK.

Moreover, DF will directly acquire and purchase shares in Baujour International Co Limited amounting to 55% of the total number of shares in HK Co which engages in bakery retail and franchise business in Asia from GEHK.

The terms and conditions of the Share Purchase Agreement between the BJBA and GEHK and the Shareholders’ Agreement between the DF and GEHK (which will be effective upon the completion date (as per the definition in the Share Purchase Agreement)). BJBA and DF have executed the Share Purchase Agreement on May 27, 2022 with the total investment value of THB 284,470,685 (Two Hundred Eighty Four Million Four Hundred Seventy Thousand Six
Hundred and Eighty Five).

The investment in BJBA and HK Co is in line with the core business strategies of Dusit Group which are Balance, Diversification, and Expansion by enhancing the manufacturing capacity of bakery products for food business of Dusit Group in Thailand and overseas, and expansion the bakery retail business base to increase the variety of products to meet the demand of main existing group of consumers and new groups who are interested in quality products at a more affordable price with plans to expand franchises both in Thailand and overseas.