NPPG Scooped High Class F&B Business, Taking Over PACE’s Dean & Deluca
It became clear today that NPPG will get the rights to handle PACE’s F&B business, Dean & Deluca
Pace Development Corporation Public Company Limited or PACE announced that on 1 August 2018, Dean & DeLuca Asia (Thailand) Company Limited (a subsidiary that PACE has indirect control 100.00%) executed the Master Franchise Agreement with NPPG (Thailand) Public Company Limited or NPPG to grant an exclusive franchise right, sub-franchisable rights to open and operate the Dean & DeLuca Cafés and the Dean & DeLuca Markets for the period of 5 years with the right to renew in accordance with the terms and conditions specified under the Master Franchise Agreement.
The Master Franchise Agreement shall come into effect upon PACE and/or subsidiaries have obtained the consent from The Siam Commercial Bank Public Company Limited in accordance with the terms and conditions specified therein which is expected to complete by August 2018.
While NPPG reported that they will use the funds from the capital increase via right offering , and will not impact the financial liquidity of NPPG.
