It is well known for its “Kyay-Oh”, a local vermicelli and flat rice noodle-based dish, along with a diversified menu ranging from Myanmar-style barbeque to Chinese and Thai dishes.
Upon completion of the deal, YKKO will be a 65%-owned subsidiary of the group.
The group will be funding the acquisition via internal resources and recent financing activities.
Melvyn Pun, CEO of Yoma Strategic says, “This acquisition doubles the footprint of our Yoma F&B store count and complements the international concepts we have already brought to Myanmar. YKKO will immediately be earnings accretive and will provide a tried and tested offering with a healthy cash flow.”
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Shares in Yoma last traded at 32 cents on Friday.
