NPPG says BreadTalk Group is a strategic partner after the group completes the acquisition of 15 per cent of NPPG shares from a group of shareholders.
BreadTalk Group will be sending its CEO Henry Chu and CFO Chan Ying Jian as the board members to co-manage NPPG with its existing board of directors.
NPPG currently has both a packaging business and food business – holding brands such as A&W, Kitchen Plus, and Dean and Deluca. NPPG also has a mass business producing frozen and chilled ready-to-eat meals with distribution into supermarket channels.
NPPG’s committee chairman, Chirdsak Kukiattinun said: “BreadTalk Group is a highly respected company and leader in Asia in the food and restaurant business. Its growth trajectory over the past few years was nothing short of extraordinary. It was able to produce healthy profitability in a highly competitive sector, and we believe that NPPG has a lot to learn and synergise with BreadTalk Group.
Chu of BreadTalk said: “Thailand is one of our key strategic focus markets, and we find that NPPG has a lot of hidden assets whose intrinsic value could be realised with the right management and expertise.
"Our acquisition of this strategic stake in NPPG will provide us with a valuable beachhead in Thailand and potential Mekong-region markets. NPPG’s access to a wide coverage of convenience stores in Thailand will offer the Group a ready distribution network for our products in future."