Local chain ZUS Coffee secures RM250m funding from consortium which includes Indonesia’s Kapal Api, set to expand regionally
Published on: Tuesday, September 10, 2024
By: Bernama
ZUS Coffee says it is planning for expansion into Singapore and Brunei. — Picture from Facebook/ZUS Coffee
Kuala Lumpur: Tech-enabled coffee chain ZUS Coffee has secured RM250 million in investment from a consortium comprising KV Asia Capital, Retirement Fund Inc (KWAP) and Kapal Api Group.
Ernst & Young Malaysia acted as the mergers and acquisitions adviser for the transaction.
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In a statement today, ZUS Coffee said the new partnership and investment herald a new chapter and serve as a springboard for the company’s growth.
The brand, which operates 600 stores regionally, continues to expand its portfolio in Malaysia.
“Leveraging its strong brand equity and loyal customer base, ZUS Coffee is focused on becoming an international brand. Currently, ZUS Coffee operates 50 stores in the Philippines and aims to be a market leader there within the next three years.
“New markets are on the horizon-Singapore and Brunei will be the next two markets for ZUS Coffee, with launches planned between September and the end of the year,” the company stated.
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ZUS Coffee is also actively engaging with potential partners in other international markets and expects to reach more customers across new geographies in 2025.
Its founder and chief executive officer Ian Chua expressed enthusiasm about the investment and partnership, noting that the company looks forward to bolstering its international expansion plans.
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“This partnership will not only grow our core coffee business but also support our entry into new verticals such as fast-moving consumer goods (FMCG),” he said.
KWAP chief investment officer Hazman Hilmi Sallahuddin said the retirement fund is proud to partner with KV Asia Capital (a Southeast Asia-focused private equity firm) and Kapal Api Group to support ZUS Coffee’s next growth phase.
“Locally, our focus will be on helping ZUS Coffee solidify its presence through an expanded store network and contributing to the community via job creation and local initiatives
“Internationally, we are excited to assist the brand in expanding its global footprint, further elevating ZUS Coffee and Malaysia on the world stage,” he added.
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