Japanese restaurant group Watami to buy Singapore's Leader Food

Tokyo-based company picks Chinese restaurant supplier as 1st overseas acquisition

Watami has seven Japanese restaurants in Singapore. (Photo by Kosuke Imamura)

YUI SATO and HIDEKI SHINOHARA, Nikkei staff writers

December 30, 2023 07:13 JST

TOKYO -- Japanese restaurant operator Watami will purchase Singapore's Leader Food and two related companies in the Tokyo-based company's first-ever overseas acquisition.

Watami will spend 9.2 million Singapore dollars ($6.9 million) for 80% stakes in Leader Food, Leader Food Industries and Premium Seafood Supplies under plans announced Friday.