Express Food Group Cambodia (EFGC) announces an ownership change today with the execution of a share transfer agreement between Thai based EFG Holdings and Singaporean firm Palms Food International Pte. The deal is for all the shares of the company and forms part of a broader strategy of Palms Food International to acquire QSR business franchises in the ASEAN region.

Palms Food International has been in business since 1987 with its core historical business of owning and operating food galleries, and multiple standalone franchised and own restaurants at Changi Airport in Singapore. Currently Palms owns, operates and is a franchisee of multiple Subway and Killiney Kopitiam at Changi Airport, Tanah Merah Ferry Terminal and the Jewel@Changi. With this extensive history of operating major international franchises and a confidence in the future of the restaurant business in Cambodia, the Palms is an excellent new owner of Express Food Group Cambodia.

Managing Director of Palms International Michael Chick commented “I’m extremely excited to have EFG Cambodia as a new company under Palms International. EFGC was the pioneer of restaurant franchising and quick service restaurants in Cambodia with a twenty-year history. This legacy and the dynamic Cambodian market allow for excellent opportunities for the growth of Palms Food International into the ASEAN region.”

The transaction will allow EFG Cambodia to explore options to develop its own brands that are relevant to Cambodian consumers whilst further strengthen ties with international franchise support centers, also based in the region. EFG Cambodia continues to operate international franchisees from the USA (Dairy Queen, Krispy Kreme’s and Swensen’s,) Australia (Boost Juice,) and South Korea (Tous les Jours)

The company will soon be making an important announcement regarding the future of its twenty plus year pizza business in the Kingdom.