Newrest acquires EM Food Services
Newrest has announced the acquisition of Singapore-based food service company EM Food Services. This acquisition comes as part of Newrest’s strategic push to develop its Asian presence, expanding business in Cambodia and Myanmar.
EM Food Services currently employs more than 1,000 people in Cambodia and Myanmar and makes €20 million in revenue per year, according to a press release from Newrest.
“Newrest expects to significantly speed up its business development in Asia’s Contract Food Services market and build its retail (bar and restaurant management) activities under concessions in the region’s airport,” says the release.
EM Food Services Shareholder Lars Crone added: “The expertise [of Newrest], which has already built an extensive international operation, will ensure growth and further success for our company and our employees.”