Singapore investment firm Yoma Strategic to buy 65% stake in Myanmar restaurant chain YKKO
YKKO is known for its “Kyay-OH” noodle dish, which contributes to the majority of the company’s sales.
Singapore investment firm Yoma Strategic Holdings is set to buy a 65% majority stake in Yankin Kyay Oh Group (YKKO), one of Myanmar’s largest restaurant chains.
The company says the MMK19.4 billion (US$12.6 million) purchase will be funded by internal resources and recent financing activities.
Founded in Yangon in 1988, YKKO is famous for its “Kyay-Oh" vermicelli and flat rice noodle-based dish in Myanmar, which majority of its sales.
“YKKO is a much-loved brand in Myanmar and its Kyay-Oh has become a household name over the last 30 years. From humble beginnings as a family run restaurant to one of the country’s most popular local F&B brands, YKKO is a true Myanmar success story and we are honoured to help further its success going forward," Yoma Strategic CEO Melvyn Pun said in a statement.
YKKO currently has 37 outlets in Yangon, Mandalay, Nay Pyi Taw, Bago and Mawlamyine.
"The company will continue to build on YKKO’s core values of quality, cleanliness and service and our vision remains the same – to establish YKKO as a Myanmar brand that people will recognise, love and feel proud of. We look forward to further expanding our footprint across the country in partnership with Yoma Strategic,” YKKO Chairwoman Daw Yu Yu Lwin added.
Photo credit: YKKO Facebook
