Texchem Resources has completed the acquisition of 1.4 million ordinary shares in Sushi King representing 28% of Asia Yoshinoya which owned them.
The group paid RM102.2 million in cash for the 28%, with this it is now a 98.35% owned subsidiary of Sushi King Holdings Sdn Bhd, which in turn is a wholly-owned subsidiary of Texchem.
With the completion of the acquisition, Texchem will have full autonomy over Sushi King’s revenue growth and potential expansion.
The group’s restaurant division was established to promote healthy eating habits among Malaysians and started Sushi King, which first introduced Kaiten Belt Sushi and the quick-service restaurant concept in 1995.
Texchem also owns, Miraku and Hoshino Coffee, including brands like Kokubu, Wilpack, and Otafuku which offer products and services synergistic to the division.
