KWAP & 2 Other Firms Invest RM250 Million In ZUS Coffee For Its Global Expansion Plans
The local coffee chain aims to debut in Singapore and Brunei by the end of the year.
By Yap Wan Xiang — 10 Sep 2024, 05:43 PM
ZUS Coffee has secured RM250 million in investments from the Retirement Fund Incorporated (KWAP), KV Asia Capital, and Kapal Api Group to support its global expansion
In a statement today, 10 September, the local coffee chain announced plans to debut in Singapore and Brunei by the end of the year, reported the New Straits Times.
ZUS Coffee currently operates about 550 stores in Malaysia and an additional 50 in the Philippines.
Since entering the Philippines, the tech-driven company has seen strong brand and product acceptance, aiming to become the country's market leader within the next three years.
The company also mentioned that it is in active discussions with potential partners in other international markets and expects to serve more customers across new geographies in 2025.
KWAP chief investment officer Hazman Hilmi Sallahuddin expressed pride in being a consortium partner, supporting ZUS Coffee's next stage of growth
He mentioned that domestically, the pension fund for civil servants will help ZUS Coffee strengthen its presence by expanding its stores throughout the country and continuously contributing to the community through job creation and local initiatives, reported Berita Harian.
"Internationally, we are excited to help the brand expand its footprint into new markets around the world, further driving ZUS Coffee and Malaysia as an important player on the world stage," said Hazman.
KV Asia Capital is a private equity firm, while Kapal Api Group is a renowned Indonesian food and beverage company with a strong presence in the coffee market.
Both KV Asia Capital partner Jeremy Tan and Kapal Api Group chief executive officer Robin Setyono expressed their excitement to be part of ZUS Coffee's expansion venture.
According to Bernama, Ernst & Young Malaysia acted as the mergers and acquisitions adviser for the transaction.
ZUS Coffee started four months before the COVID-19 pandemic lockdown, with its first store at Binjai 8, Kuala Lumpur. Over the years, the coffee chain has collaborated with various companies and celebrities to strengthen its brand.
According to its website, the company has served over 76 million cups of coffee to date.
