Dusit Thani PCL plans to enter food business with strategic investment in NR Instant Produce Co., Ltd.

Stocks and Financial Services Press Releases Friday March 2, 2018 19:04
Bangkok--2 Mar--i2C Communications
Development is in line with hospitality company's strategy to diversify   its lines of business and generate revenue from adjacent industries

Dusit Thani Public Company Limited (DTC), one of Thailand's foremost hotel and property development companies, has announced its plans to invest around 660 million baht for an approximate 26% share in NR Instant Produce Co., Ltd., (NRIP), a well-known producer of ready to cook, ready meals, seasoning powders, dipping sauces, drinks and juices.

To invest in NRIP, whose signature brands include Por Kwan, Lee, Thai Delight, DEDE, and Shanggie, DTC will establish Dusit Foods Co., Ltd., a new subsidiary designed to leverage Dusit's rich experience in food and beverage service. The investment approval process will be completed at the end of March.

The investment forms part of DTC's three-pronged strategy for sustainable and profitable growth, which includes balance, expansion, and diversification. Investment in NRIP is considered DTC's first investment in an entirely non-hotel related business. It follows last year's announcement of DTC's investment in a mixed-use project in Bangkok, which will include a new flagship Dusit Thani Bangkok hotel at the heart of the project.

"With our expertise and experience in F&B, there is huge growth potential for our company in the food business," said Ms Suphajee Suthumpun, Group CEO, DTC. "With time, we hope to create a partnership with NRIP to develop a line of Dusit-branded, premium products for local and international consumer markets."

Ms Suphajee added that the investment in NRIP would strengthen DTC's investment portfolio, and is in line with the company's long-term operating plan which comprises five approaches: 1. Efficiently manage existing assets and provide appropriate returns; 2. Expand its hotel business in Thailand and overseas; 3. Diversify its lines of business to mitigate risk; 4. Expand its customer base and enhance brand image worldwide; and, 5. Strengthen its management and operation teams to expedite business expansion.

Reporting its financial results for 2017, DTC noted a total revenue of THB 5.570 billion and a net profit of THB 267 million, a 2.7% and 134% rise YOY respectively. The company's Board of Directors has approved a dividend payment of THB 0.158 per share, to be paid on 11 May 2018.

About Dusit International

Dusit International was founded in 1948 by Honorary Chairperson Thanpuying Chanut Piyaoui, whose ?rst hotel was the Princess on Bangkok's Charoenkrung Road. Today the company is a leader in hotel management, franchising and education and comprises a unique international portfolio of distinctive hotels and resorts operating under four brands: Dusit Thani, dusitD2, Dusit Princess and Dusit Devarana.

The company currently operates 27 properties worldwide and has over 50 confirmed projects in the pipeline in key destinations such as Australia, Bhutan, China, Indonesia, Kenya, Myanmar, Oman, Philippines, Qatar, Saudi Arabia, Singapore, Thailand, Turkey, and UAE.

Dusit International also operates the signature Devarana Spa and has a fast-growing Education Division. The latter, established in 1993, comprises Dusit Thani College, which offers vocational and postgraduate hospitality degrees at campuses in Bangkok and Pattaya; Le Cordon Bleu Dusit Culinary School; and the recently opened Dusit Thani Hotel School, which is Thailand's first hospitality school based on the ASEAN Common Competency Standards for Tourism Professionals.

For more information, please visit www.dusit.com.
About NRIP

With over 25 years of experience, NR. Instant Produce Co., Ltd partners with innovative brands to create safe, delicious and high quality food solutions that delight customers and enrich people's lives. Based in Thailand and working with local corpoorations and customers in Europe, the US, Australia, and other countries worldwide, NRIP aims to provide excellent quality products and has a dedicated team of expert nutitionists dedicated to continuous improvement. Its own brands include Por Kwan, Lee, Thai Delight, DEDE, and Shanggie. NRIP products have been certified by BRC Global Standard, IFS Food, GMP, GRI and HACCP as well as US FDA standards.


Latest Press Release

Fitch Affirms Standard Chartered Bank (Thai) at #A-#; Outlook Stable

Fitch Ratings has affirmed Standard Chartered Bank (Thai) Public Company Limited's (SCBT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'A-' with a Stable Outlook. At the same time, the agency has affirmed SCBT's National...

Photo Release: KBank recognized as having the highest corporate brand value in the banking business category 2nd consecutive year

At Sukree Kaewcharoen Auditorium, the Stock Exchange of Thailand (SET), Ms. Kattiya Indaravijaya, KBank President, recently represented KBank to receive the "Thailand's Top Corporate Brand Values 2018" award in the banking business category from...

MicroBitcoin Open Source Community เซ็นสัญญากับสมาพันธ์แรงงานในเกาหลี เปิดโอกาสให้แรงงาน 1.5 ล้านคนได้ใช้เงินดิจิทัล

MicroBitcoin Open Source Community เซ็นสัญญากับสมาพันธ์แรงงาน Korea Association of Care Workers (KACW) เพื่อนำสกุลเงินดิจิทัล MicroBitcoin มาใช้ สัญญานี้ลงนามร่วมกันสามฝ่าย ได้แก่ MicroBitcoin Open Source Community, KACW และ Bluequotient...

MicroBitcoin Open Source Community Signs an Exclusive Contract with the Korea Association of Care Workers (KACW) to Expand its Usability to One and a Half Million Users

The MicroBitcoin Open Source Community has signed a contract with Korea Association of Care Workers (KACW) to adapt the MicroBitcoin blockchain network protocol. The trilateral contract was made between the MicroBitcoin Open Source Community, the Korea...

WICE establishes a joint-venture, EUROASIA TOTAL LOGISTICS, with its holding 40% of shares to provide cross-border transport services between China, Hong Kong

WICE establishes a joint-venture, "EUROASIA TOTAL LOGISTICS", with its holding 40% of shares to provide cross-border transport services between China, Hong Kong, and South East Asia with the expectation to achieve the first year's revenue at 200 million...

Related Topics