Dusit International plans to enter food business with strategic investment in NR Instant Produce Co., Ltd.

Development is in line with hospitality company’s strategy to diversify its lines of business and generate revenue from adjacent industries

2 March 2018
Dusit Hotels & Resorts

Bangkok – Dusit Thani Public Company Limited (DTC) or Dusit International, one of Thailand's foremost hotel and property development companies, has announced its plans to invest around 660 million baht for an approximate 26% share in NR Instant Produce Co., Ltd., (NRIP), a well-known producer of ready to cook, ready meals, seasoning powders, dipping sauces, drinks and juices.

To invest in NRIP, whose signature brands include Por Kwan, Lee, Thai Delight, DEDE, and Shanggie, DTC will establish Dusit Foods Co., Ltd., a new subsidiary designed to leverage Dusit's rich experience in food and beverage service. The investment approval process will be completed at the end of March.

The investment forms part of DTC's three-pronged strategy for sustainable and profitable growth, which includes balance, expansion, and diversification. Investment in NRIP is considered DTC's first investment in an entirely non-hotel related business. It follows last year's announcement of DTC's investment in a mixed-use project in Bangkok, which will include a new flagship Dusit Thani Bangkok hotel at the heart of the project.

"With our expertise and experience in F&B, there is huge growth potential for our company in the food business," said Ms Suphajee Suthumpun, Group CEO, Dusit International. "With time, we hope to create a partnership with NRIP to develop a line of Dusit-branded, premium products for local and international consumer markets."

Ms Suphajee added that the investment in NRIP would strengthen DTC's investment portfolio, and is in line with the company's long-term operating plan which comprises five approaches: 1. Efficiently manage existing assets and provide appropriate returns; 2. Expand its hotel business in Thailand and overseas; 3. Diversify its lines of business to mitigate risk; 4. Expand its customer base and enhance brand image worldwide; and, 5. Strengthen its management and operation teams to expedite business expansion.

About Dusit International

Dusit International was founded in 1948 by Honorary Chairperson Thanpuying Chanut Piyaoui, whose first hotel was the Princess on Bangkok's New Road. Today the company is a leader in hotel management, franchising and education and comprises a unique international portfolio of distinctive hotels and resorts operating under four brands: Dusit Thani, dusitD2, Dusit Princess and Dusit Devarana. The company currently operates 29 properties worldwide and has over 50 confirmed projects in the pipeline in key destinations such as Australia, Bhutan, China, Indonesia, Kenya, Myanmar, Oman, Philippines, Qatar, Saudi Arabia, Singapore, Thailand, Turkey, and UAE. Dusit International also operates the signature Devarana Spa and has a fast-growing Education Division. The latter, established in 1993, comprises Dusit Thani College, which offers vocational and postgraduate hospitality degrees at campuses in Bangkok and Pattaya; Le Cordon Bleu Dusit Culinary School; and the recently opened Dusit Thani Hotel School, which is Thailand"s first hospitality school based on the ASEAN Common Competency Standards for Tourism Professionals. In 2018 Dusit will open the pioneering Dusit Hospitality Management College, a unique fully integrated hospitality school and hotel in Manila, Philippines. For more information, please visit www.dusit.com.

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Dusit International

Dusit Thani Building, 946 Rama IV Road
Bangkok , 10500
Thailand
Phone: +66 (0) 2200 9999
Fax: +66 (0) 2636 3549
www.dusit.com

Sureerat Sudpairak

Corporate Manager – Public Relations
Phone: +66 (0) 2200 9999 ext. 3321
sureerat.sp@dusit.com