WAN KEI GROUP spent HKD 2.31 million to acquire 70% of the distribution and coffee shop business of a Japanese coffee br…
I'm LongbridgeAI, I can summarize articles.WAN KEI GROUP acquired 70% equity in House Clover Ventures Limited for HKD 2.31 million. The company has signed an exclusive distribution and trademark licensing agreement with a Japanese coffee brand. WAN KEI GROUP operates two coffee shops of the brand in Shanghai and manages the online sales platform for related products. This acquisition will help diversify revenue sources
According to a report from Economic Information Daily on the 6th, WAN KEI GROUP (01718) announced that it has spent HKD 2.31 million in cash to acquire a 70% stake in House Clover Ventures Limited, which is engaged in the food and beverage business, from an independent third party.
The group stated that House Clover has entered into an exclusive distribution and trademark licensing agreement with a Japanese coffee brand. The company currently operates two boutique coffee shops of the Japanese coffee brand in Shanghai and manages an online sales platform for coffee beans and other coffee-related products of the same brand. The group indicated that the acquisition diversifies its sources of income. (wh)