Dusit Thani Public Company Limited (SET: DUSIT) has announced that Dusit Foods Company Limited (DF), a subsidiary of DUSIT in which the company holds 75% of shares, has entered into a joint venture agreement with Farm To Plate Processor Company Limited (F2P) on April 10, 2023 to operate the business of ready-to-eat and ready-to-cook food via central kitchen and cloud food dispensing network in Thailand.
This will establish a joint venture company named Savor Eats Company Limited in which DF will hold 51% and F2P will hold 49% of its total issued shares. The initial registered share capital will be THB 4,900,000, divided into 49,000 ordinary shares with a par value of THB 100 each. Savor Eats Company Limited will gradually increase the share capital as per the required working capital of the business.
Such joint venture is a part of Dusit’s food expansion strategy to cover a variety of foods, such as healthy food (KAUAI brand), bread and bakery (Bonjour brand), ready-to-eat and ready-to-cook food operated by Savor Eats Company Limited.