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Dairy Farm's
core strategy is
to focus on
international
food retailing
and drugstore
operations.
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Press Releases Back to the Press Releases Main Page
Jardine Pacific to Acquire Oliver's Super Sandwiches from Dairy Farm Hong Kong, 25th January, 1999 - Jardine Pacific Limited and The Dairy Farm Company Limited today announced that agreement had been reached for Dairy Farm to sell Oliver's Super Sandwiches (OSS) to Jardine Restaurants Group (JRG). Both companies are members of the Jardine Matheson Group. Oliver's Super Sandwiches was first established in Hong Kong in 1987 and has since then earned an excellent reputation in the fast food and restaurant industry, catering to customers with a preference and need for a quick and high quality dining service. OSS currently operates 22 outlets in Hong Kong, and has a franchise network which operates 5 outlets in Malaysia and 3 outlets in The Philippines. Commenting on the acquisition, Richard Tangye, Jardine Restaurants Group Chief Executive, said, "This is a significant development for the Jardine Restaurants Group and I am delighted to welcome the staff of Oliver's Super Sandwiches to the Group. With our expertise in operating restaurants around the Asia Pacific Region, we are committed to making OSS even better than it is today - better for staff, better for customers and better for shareholders." Jardine Restaurants Group intends to use its extensive industry experience to continue to grow and develop OSS. Jardine Pacific, through JRG, is one of the leading restaurant operators in the Asia Pacific Region covering Hong Kong, Mainland China, Taiwan, Hawaii, Guam and Saipan, with over 250 outlets and some 8500 employees. The Company is the world's largest international franchisee of Pizza Hut. It also operates Taco Bell, Ruby Tuesday and "Nine to Five" restaurants throughout the Asia Pacific region. Commenting on the sale, Robert Neslund, Regional Director, North Asia of Dairy Farm said, "The sale will be a 'win' for both companies as it suits each of our business strategies. Oliver's Super Sandwiches is a strong brand and we believe that the change in ownership will take the business onto the next level in terms of its development and service to the customers. Both the staff and the customers will be in good hands given the expertise and experience of Jardine Restaurants Group. Meanwhile, Dairy Farm Hong Kong will continue to focus on satisfying its retail customers through its Wellcome supermarkets, Mannings health and beauty stores, and 7-Eleven convenience stores." ----ends---- Issued by Forrest International. For further information, please contact:
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