BANGKOK, Thailand -- Royal Garden Resorts yesterday announced a tender offer for outstanding shares of the Minor Food Group (MFG) at 70 baht (U.S. $1.68) a share.
According to the Bangkok Post, the announcement to the Stock Exchange of Thailand helped push MFG shares up 1.49 percent yesterday to 68 baht (U.S. $1.63).
MFG operates 360 restaurants, including The Pizza Company (see related story After dominating Thailand, The Pizza Company eyes Middle East, China), Swensen's, Sizzler, Dairy Queen and Burger King brands. The company claims more than one-third of the fast-food market, with 115,000 customers served each day.
Both RGR and MFG were founded, and are currently chaired by Bill Heinecke.
RGR currently holds 35.7 percent of MFG.
RGR operates nine hotels and 2,056 rooms under the Marriott, Regent, Anantara and Royal Garden brands. RGR also owns and operates 11 spas under the Mandara brand, two shopping plazas in Pattaya and Bangkok and an entertainment division operating Ripley's Believe It or Not museums in Pattaya and Hong Kong.