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Tag: Oldtown

  • Malaysia’s OldTown White Coffee ramps up Philippine expansion

    Malaysia’s OldTown White Coffee ramps up Philippine expansion

    OldTown White Coffee, a renowned Malaysian coffee brand, is charting an ambitious growth trajectory in the Philippines with a hefty investment amounting to US$21 million (PHP400 million). The funding will facilitate the introduction of 20 additional outlets over the next half-decade.

    This strategic expansion is spearheaded by the brand’s Philippine licensee, Del Mundo Group. This follows hot on the heels of the inauguration of OldTown’s inaugural branch in Zamboanga City. This new entrant marks the 11th OldTown outlet in the Philippines and the first in Western Mindanao.

    The new café, nestled in Tumaga’s Pasonanca Road, is the entrepreneurial venture of Pherhan and Jhulie Saiddi. The duo aims to enrich Zamboanga’s vibrant food and beverage landscape with their venture.

    “We aspire to introduce a global brand to Zamboanga that resonates with quality and cultural authenticity. OldTown White Coffee encapsulates this aspiration perfectly,” expressed the Saiddis.

    Debuting in 1999, OldTown White Coffee has earned a name for its signature roasted white coffee and authentic Malaysian cuisine. With more than 200 outlets across Malaysia, the brand has extended its footprint to Singapore, Indonesia, and Hong Kong.

    The Philippine chapter of OldTown White Coffee began in 2023, under the aegis of Del Mundo Group. The group is also known for managing brands like Mesa Filipino Moderne, Ramen Bari Uma, Buchiton, Hayashi Yakiniku, and Cravy.

    Matt Ablis, the COO of Del Mundo Group, revealed the group’s intention to penetrate key provincial markets with burgeoning consumer demand and local economic growth. “This expansion is not just about opening new stores, it extends to bringing OldTown’s established café format and menu to previously untapped regions,” he shared.

    Questions & Answers

    What is OldTown White Coffee planning for the Philippines?
    OldTown White Coffee aims to expand its presence in the Philippines with a US$21 million investment, planning to open 20 more outlets over the next five years.

    Who is leading the expansion of OldTown White Coffee in the Philippines?
    The expansion of OldTown White Coffee in the Philippines is being spearheaded by the Del Mundo Group.

    What is the vision of the owners of the new café in Zamboanga City?
    The owners of the new café in Zamboanga City aim to enrich the city’s food and beverage scene by introducing OldTown White Coffee, which they believe encapsulates quality and cultural authenticity.

  • Malaysian coffee chain OldTown White Coffee enters The Philippines

    Malaysian coffee chain OldTown White Coffee enters The Philippines

    The Philippines becomes OldTown White Coffee’s fourth international market, after Singapore, Indonesia and Hong Kong, with the coffee chain also targeting further outlet growth across Malaysia in the second half of 2023

    The Ipoh-based coffee chain, which has approximately 200 outlets across Malaysia, joins The Coffee Bean & Tea Leaf, CoCo Fresh Tea & Juice, Tealive and Wouldulike Specialty Coffee at the shopping centre. In January 2023, OldTown White Coffee announced plans to open 50 new outlets across Malaysia this year, targeting growth in the country’s northern and eastern suburban regions. The coffee chain also has stores in Singapore, Indonesia and Hong Kong.

    OldTown White Coffee, which also manufactures and distributes packaged instant coffee products to supermarkets across southeast Asia, was acquired by JDE Peet’s for $361m in 2017.

    World Coffee Portal research forecasts the Filipino branded coffee shop market will exceed 2,000 outlets by 2025.

    OldTown White Coffee is the latest branded coffee chain to enter the Philippines in the last 12 months, with Paris-based boutique café group Café Kitsuné and South Korea’s value-focused Paik’s Coffee among those to debut in the country.

    Japan’s % Arabica has also announced it will relaunch in the Philippines this year with two stores in Manila’s Bonifacio Global City financial business district.

    Further demonstrating opportunities for branded coffee chains in the Philippines, in April 2023 domestic start-up Pickup Coffee raised more than $26m to scale its value-focused coffee shop concept.

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  • Offer for OldTown extended to March 20

    Offer for OldTown extended to March 20

    Jacobs Douwe Egberts Holdings Asia NL BV (JDE) has extended the closing date of its takeover offer for OldTown Bhd to March 20.

    According to a circular issued by CIMB Investment Bank Bhd, the terms and conditions of the offer remain unchanged and the level of acceptances of the offer stood at 83.75% on March 9.

    OldTown received a takeover notice from JDE in December last year at an offer price of RM3.18 per share. The offer was supposed to close today.

    Earlier, JDE said it has secured irrevocable undertakings from shareholders holding 51.45% and is looking to procure the remaining shares with an eye to delist and privatise OldTown.

    JDE has agreed to pay a good faith fee of US$3.48 million (RM13.6 million) or 1% of the total offer price to OldTown.

  • OldTown shareholders agreed to accept JDE offer

    OldTown shareholders agreed to accept JDE offer

    Malaysian cafe chain and coffee manufacturer OldTown is about to sell a majority shareholding to Jacobs Douwe Egberts (JDE) for about US$361 million.

    It is part of a move by the global coffee and tea company to expand its coffee empire.

    OldTown, which has 232 outlets, mostly in Malaysia, says shareholders holding about 51.45 per cent of the total issued share capital of the company have irrevocably undertaken to tender all their shares in acceptance of the offer, says the company.

    Jacobs Douwe Egberts Holdings is an indirect wholly owned subsidiary of Netherlands-based JDE, which owns such coffee and tea brands as Jacobs, L’Or, Moccona, Senseo and Tassimo, and has a presence in more than 120 countries.

    Earlier this year JDE acquired Singapore-listed Super Group, a pan-Asian integrated instant F&B brand for S$1.45 billion (US$1.05 billion).

    “We are deeply honoured JDE recognises the powerful brand and platform we have tirelessly built over the past 18 years,” says OldTown group MD Lee Siew Heng.

    OldTowns’s cafes are spread across Malaysia (189 outlets) and Singapore (nine outlets), with Malaysia accounting for 59 per cent of its revenue. Born out of a merger between the coffee businesses of US snack company Mondelez with coffee and tea company DE Master Blenders in July 2015, JDE says it is on track for an annual revenues of more than €5 billion (US$ 5.8 billion), claiming a leading position in 28 countries across Europe, Latin America and Asia Pacific.

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  • PappaRich Malaysia considering IPO

    PappaRich Malaysia considering IPO

    Food chain PappaRich Malaysia is considering a Singapore IPO, possibly this year.

    Insiders say the company, which opened its first restaurant in Malaysia in 2006, aims to achieve a valuation of at least S$200 million (US$140 million) in the share sale.

    PappaRich would follow other Southeast Asia-based restaurant chains including ABR Holdings, which runs Swensen’s ice cream parlours, and kopi tiam restaurant chain Oldtown in gaining a listing to fund expansion.

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    A PappaRich representative says a listing has always been a consideration as the company considers fundraising options to support its expansion plans.

    Oldtown, which makes instant coffee and runs cafes, has risen 18 per cent in Kuala Lumpur trading over the past 12 months, and shares of Thai dessert chain After You, which raised US$21 million in a Bangkok IPO last month, have surged 167 per cent from their offer price.

    More than a million customers dine at the PappaRich outlets monthly, according to its website. The company has about 100 outlets globally including Australia, China, New Zealand, Singapore and the US.

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