A leading dumpling chain has agreed to acquire a 69 percent stake in coffee-shop chain Dante Coffee and Foods Co (丹堤咖啡), to diversify its business, it said yesterday.
The acquisition would add to Bafang Yunji International Co’s (八方雲集) growing list of food brands, which already includes pork rice chain Liang She Han (梁社漢排骨), boxed meal vendor Bai Fung Bento (百芳池上便當) and Bafang Noodles (八方台式麵屋), it said in a statement.
The dumpling vendor said it would pay cash to acquire Dante Coffee, which has 67 outlets in Taiwan, but did not disclose any financial details.
Photo: Chou Hsiang-yun, Taipei Times
The acquisition plan was approved at a board meeting on Thursday.
As of the end of last year, Bafang Yunji owned 981 dumpling stores, and another 51 outlets of its other brands.
Established in 2000, the company in 2008 expanded to Hong Kong and then to Chinese cities such as Tianjin, Shenyang, Hangzhou, Fuzhou, Xiamen, Shenzhen and Guangzhou, starting in 2014.
It plans to open outlets in the US, Japan and Singapore, it said.
In the first half of the year, Bafang Yunji had earnings per share of NT$4.99, up about 26 percent from a year earlier, on a 4.6 percent year-on-year increase in sales.
It had earnings per share of NT$8.09 last year and NT$8.12 in 2018.
The company listed its shares on Taiwan’s emerging market on Tuesday last week.
Companies are asked to first list shares on the emerging market for no less than six months before deciding to launch an initial public offering on the main stock exchange or the over-the-counter market.
On Thursday, Bafang Yunji shares traded between NT$160 and NT$177.50 on the emerging market. The local stock market was closed yesterday for the Double Ten National Day long weekend.
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