Jumbo Group, Laoxiangji JV brings Lausanjee QSR chain to Singapore
The JV's board will have three directors, with LXJ appointing two and JFS appointing one.
Jumbo Group Limited said its wholly owned subsidiary, Jumbo F&B Services Pte. Ltd. (JFS), has formed a joint venture (JV) company with Laoxiangji Holdings Pte. Ltd. (LXJ) in Singapore to operate Chinese-style quick-service restaurants under the Lausanjee brand.
Under the agreement, JFS will invest $980k for a 49% stake in the JV company, whilst LXJ will invest $1.02m for the remaining 51%.
LXJ holds the rights to the Lausanjee trademarks and trade names in Singapore and will grant the JV the right to use the brand through a franchise agreement.
The JV's board will have three directors, with LXJ appointing two and JFS appointing one.
The board will oversee strategy and governance, whilst an appointed management team will handle daily operations.
Jumbo Group said its investment will be funded through internal resources and is not expected to have a material impact on the group's net tangible assets per share or earnings per share for the financial year ending 30 September 2026.
Lausanjee currently operates more than 1,600 restaurants across over 50 cities in China through a mix of company-owned and franchised outlets.
