The group said that this could pave the way for their regional expansion.
Katrina Group, who owns restaurant brands such as Bali Thai and So Pho, has announced that they have acquired accommodation provider Straits Organization Pte Ltd (SOPL).
This marks as their entry in the hospitality business as Straits manages around 125 units in 15 different apartments and condominiums across Singapore. Katrina Group bought their entire shared capital amounting to SG$280,000.
“This acquisition reinforces our strategy of diversifying the Group’s revenue stream across businesses, markets and segments to mitigate against weaknesses from any one sector,” Alan Goh, founder, CEO and executive chairman of Katrina Group, said.
Goh also noted that the acquisition could also make a cross-sector collaboration of their F&B business and regional expansion possible.
“It is an earnings accretive acquisition which we believe bolsters the Group’s growth potential and provides a stable base of recurring income,” he added.
(Photo credit: Bali Thai Facebook)
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