Dusit Foods Company Limited, a wholly owned subsidiary of Dusit Thani Public Company Limited, has bolstered its food business portfolio in Thailand by concluding an agreement to acquire a 55% stake in Port Royal Company Limited, a state-of-the-art baking factory producing French-style pastry products, and its associated Bonjour Bakery Asia franchise business, comprising more than 50 branches across Thailand and one branch in China.

The strategic upstream investment has been carried out in line with Dusit’s vision to optimise food quality and production costs within the Dusit Group, seize new opportunities for growth, and develop new streams of recurring revenue in food business. It will serve as a springboard to develop Port Royal’s OEM model to provide new B2B (Business to Business) services and expand Bonjour Bakery’s franchise business domestically and internationally.

As part of the acquisition, Dusit Foods, Port Royal, and Bonjour Bakery Asia will establish a new joint venture named Bonjour Bakery Asia Company Limited to maximise synergies and drive sustainable growth.

“This strategic acquisition is the latest significant development in the continued evolution of our food business,” said Suphajee Suthumpun, group CEO, Dusit. “Following our previous investment in NR Instant Produce Company Limited (NRF), which we sold to excellent returns as part of a strategic divestment when NRF was listed on the Stock Exchange of Thailand, we knew we would need to reinvest in the manufacturing side of food business to achieve our vision of standardising our products and optimising production costs for our food business overall. So, when the opportunity to invest in Port Royal and Bonjour Bakery arose, we did not hesitate. Not only will this investment help us to meet the aforementioned goals, but it will also open many doors for potential growth – internally, externally, domestically, and internationally – and ultimately bring new recurring streams of revenue to our company.”