13 December 2017,
OldTown Bhd’s proposed take-over by a Dutch firm signals the rising thirst of European coffee companies to take a bite at the multibillion beverage and cafe industry in the region. Dutch Jacobs Douwe Egberts BV (JDE), which manufactures and distributes coffee, had tabled a RM1.47 billion bid for the home grown cafe chain.
The bid for OldTown, a favourite local kopitiam hangout, by JDE came after the Dutch firm acquired Super Group Ltd, a Singapore-listed pan-Asian instant food and beverage (F&B) brand, for US$1.05 billion (RM4.3 billion) in June this year. Coffee drinking had turned into a fad among many Malaysians and had helped the creation of various local kopitiams. Big names like Starbucks have a strong footing.
But local kopitiams are fast sparring against their mighty international competitors with self-crafted coffees, local delicacies and attractive prices.
Full Article : https://themalaysianreserve.com/2017/12/13/oldtown-bid-signals-europe-thirst-se-asias-coffee-biz/
Source : The Malaysian Reserve