Malaysian espresso chain Zus Espresso has secured a US$57.27 million (RM 250) funding to assist its growth in Singapore and Brunei this yr. The funding was secured from a consortium comprising personal fairness agency KV Asia Capital, Malaysian pension fund KWAP, and Indonesia’s Kapal Api Group.
Based in 2019, Zus Espresso has expanded to turn out to be one among Malaysia’s largest espresso chains, with an estimated 550 shops.
It has additionally prolonged its footprint to the Philippines, the place it operates 50 shops. That is following a strategic partnership with the Filipino hospitality group Choi Backyard Restaurant Firm, which acquired a 35 % stake within the firm final yr.
The Edge experiences that the funding from KV Asia Capital will likely be raised in two phases: an preliminary US$10.7 million (RM 50 million), adopted by a further $42.8 million (RM 200 million) at a later date.
KV Asia Capital has already invested in a number of different corporations in Southeast Asia. These embody the Taguig-based Wildflour Hospitality Group, the Vietnamese logistics agency Bee Logistics, the Indonesian magnificence model Victoria Care, the well being meals complement firm DXN, and the Malaysian grocery store chain TF Worth Mart.
Ernst & Younger Malaysia acted as an adviser for the transaction.
