Minor International Public Company Limited (SET: MINT), a renowned global leader in hospitality, restaurant and lifestyle sector, is pleased to announce its decision to acquire 100% stake in its Sizzler brand franchisor worldwide, excluding USA, Puerto Rico and Guatemala. This strategic move marks a significant milestone in MINT’s ambitious growth plans worldwide and reinforces its position as an industry frontrunner.
The acquisition comes at an opportune time for MINT, as it continues to build on its track record of success and strengthen its position in the global marketplace. As a 31-year franchisee of Sizzler, MINT has established a fruitful partnership with the seller, Collins Foods Limited (Collins Foods) and played a pivotal role in Sizzler’s success, contributing to its growth and reputation in western casual dining in Asia. With the completion of this acquisition, MINT will gain control over Sizzler’s portfolio of successful franchises with existing 64 restaurants in Thailand and another 10 in Japan.
“We are thrilled to announce our share acquisition in Sizzler, a brand we have worked closely with and strongly believe in the growth potential under MINT,” said Mr. Dillip Rajakarier, Group CEO of MINT. “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. We have a proven track record of successfully expanding our own brands in various countries, including one of the most difficult countries to dominate like China and Singapore. By gaining the ability to shape Sizzler’s development, we can replicate our proven past achievements and unlock the full potential of the brand. With MINT’s deep industry knowledge, operational expertise and international partnership, we will introduce Sizzler to new audiences in other fast-growing markets around the world, e.g. ASEAN and Middle Eastern countries, etc.”
This SGD 21-million acquisition is earnings-accretive and made possible by MINT’s robust financial standing and healthy balance sheet. With Sizzler’s existing annual royalty income of SGD 3.5 – 4 million and full profit contribution without royalty payment from Thailand operations, the investment offers an attractive double-digit percentage return, demonstrating MINT’s commitment to deliver accretive value to its stakeholders. As MINT embarks on this exciting chapter, it is confident in the ability to capitalize on the immense growth opportunities that lie ahead and will reinforce its promise to deliver exceptional dining experiences as well as unparalleled customer satisfaction across its expanded portfolio of brands.