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Thailand Industry – SST Buys Greyhound

By on Jul 30, 2014 in Retail

The SET-listed warehouse provider and food and restaurants operator Sub Sri Thai Plc (SST) has successfully acquired Greyhound fashion and restaurant brand worth 1.85 billion baht with plans to use the business to rapidly expand its food segment.

SST and Mudman entered a buying and selling agreement with the existing shareholders of Greyhound since June 12. The transaction payment was completed yesterday.  An executive of a restaurant operating company who requested anonymity said the deal gives SST a short cut in establishing its food and restaurant brand overseas. Also, the move is in line with the SST strategy of reducing risks in food businesses by using exclusive franchise contracts with master franchisers, including Au Bon Pain, Dunkin’ Donuts and Baskin-Robbins, which all allow only SST to operate their franchises in Thailand.

SST’s experience in managing outlets under franchiser contracts can add synergy to the deal, said an industry source.  SST shares fell almost 2% to close at 22.10 baht in trade worth 295 million baht.  Both executives from the two groups declined to comment.

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