11 September 2024,
Malaysian coffee chain Zus Coffee has secured a US$57.27 million (RM 250) investment to support its expansion in Singapore and Brunei this year.
The funding was secured from a consortium comprising private equity firm KV Asia Capital, Malaysian pension fund KWAP, and Indonesia’s Kapal Api Group.
Founded in 2019, Zus Coffee has expanded to become one of Malaysia’s largest coffee chains, with an estimated 550 stores.
It has also extended its footprint to the Philippines, where it operates 50 stores, following a strategic partnership with the Filipino hospitality group Choi Garden Restaurant Company, which acquired a 35 per cent stake in the company last year.
The Edge reports that the investment from KV Asia Capital will be raised in two phases: an initial US$10.7 million (RM 50 million), followed by an additional $42.8 million (RM 200 million) at a later date.
Source : Inside Retail
Full Article : https://insideretail.asia/2024/09/11/malaysias-zus-coffee-secures-57m-funding-to-expand-into-singapore-brunei/
