BreadTalk to buy food-court operator Food Junction for S$80m

F&B player BreadTalk Group is looking to buy the entire stake in Food Junction Management, which operates food courts and F&B outlets in Singapore and Malaysia, for S$80 million in cash.FOOD and beverage player BreadTalk Group is looking to buy the entire stake in Food Junction Management , which operates food courts and F&B outlets in Singapore and Malaysia, for S$80 million in cash.

For illustrative purposes only, assuming that a loan of S$49.6 million was drawn down on Jan 1, 2018 to fund the proposed acquisition, and that the transaction had been completed on Dec 31, 2018, BreadTalk’s gearing for fiscal 2018 would have increased to 0.7 times, from 0.25 times before the acquisition.The consideration amount may be subject to further adjustments to take into account the actual cash, debt and working capital of FJM as at completion of the acquisition.

BreadTalk said the proposed acquisition will allow it to obtain additional revenue streams and benefit from the synergies with its existing food court and F&B outlet business through the “streamlining of costs” and sharing of resources. The proposed acquisition is conditional upon, among other things, approval by shareholders of BreadTalk, LCR and Lippo.

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