Katrina Group has formed a joint venture to bring the Korean brand Daily Beer into Singapore.
Katrina will hold 80% of the venture while DailyBeer Co will own the remaining 20%. The partners will do this for an initial period of five years.
Alan Goh, Katrina's executive chairman and CEO describes this partnership as part of his company's strategy to rejuvenate its F&B brands.
Katrina's existing F&B brands include So Pho, Streats and Bali Thai.
Goh calls Daily Beer a "novel" F&B concept, selling Korean craft beer and fried chicken.
“This new venture combines Katrina Group 1A0 ’s and DBK’s strong network, experience, and expertise, providing a strategic platform," he says.
See also: Japan Foods' chief chef to resign
DailyBeer Co, set up in 2014, runs around 370 stores across Korea, either directly run or via franchises.
Lim Sang Jin, who holds 68% of DailyBeer Co says he is "delighted" with the opportunity to collaborate with Katrina Group.
"With their extensive expertise, experience and network in the Singapore food and beverages industry, we see this opportunity as a forward step in establishing our presence in Singapore,” he adds.
