United Foodbrands Limited has announced an increase in promoter and promoter group shareholding through a recent share acquisition disclosed under Regulation 30. The transaction involved the acquisition of 3,23,894 shares, representing 0.83% of the company's paid-up share capital.

Promoter Group Share Acquisition Details

The share acquisition was executed by three members of the promoter group: Mr. Azhar Yusuf Dhanani, Zuber Yusuf Dhanani, and Ms. Anisha Raoof Dhanani. This move demonstrates the promoter group's continued confidence in the company's prospects and their commitment to increasing their stake in United Foodbrands Limited.

Shareholding Pattern Changes

The acquisition has resulted in a notable change in the company's shareholding structure. The following table illustrates the pre and post-acquisition shareholding pattern:

The promoter and promoter group shareholding has increased from 1,31,85,644 shares (33.73%) to 1,35,09,538 shares (34.56%), marking an increase of 0.83 percentage points in their overall stake.

Regulatory Compliance and Disclosure

United Foodbrands Limited has confirmed that apart from the disclosed acquisition, there are no other major changes in the promoter and promoter group shareholding. The company has also stated that this transaction does not require any separate disclosures under Regulation 29 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Company Background

The disclosure was made by Nagamani C Y, Company Secretary & Compliance Officer. United Foodbrands Limited was formerly known as Barbeque-Nation Hospitality Limited, reflecting the company's evolution in the food and hospitality sector.

United Foodbrands Limited has successfully completed strategic acquisitions in Thailand through its wholly-owned subsidiary, marking a significant expansion into Southeast Asian markets. The company announced that Barbeque Nation MENA Holding Limited, domiciled in Dubai, has acquired shares in two Thai limited liability companies, expanding operations in Southeast Asia for restaurant business growth.

Acquisition Details

The acquisitions involve two newly incorporated Thai entities that have now become step-down subsidiaries of United Foodbrands Limited. The Thai Department of Business Development, Ministry of Commerce, confirmed the share transfers.

United Foodbrands Thai Holding Co., Ltd.

This entity is authorized to establish limited liability companies, branch offices, operate hotels and restaurants, and provide consultancy services.

United Foodbrands Thai Co., Ltd.

This subsidiary is authorized to operate restaurants, hotels, bars, and nightclubs in Thailand.

Strategic Rationale

The acquisitions align with United Foodbrands' objective to explore business opportunities in Southeast Asia, particularly Thailand. Both acquired entities operate within the restaurant and hospitality sector, directly supporting the company's core business activities. The step-down subsidiaries will enable United Foodbrands to establish an operational presence in Thailand's food service market.

Regulatory Compliance

The transactions constitute related party transactions under Section 2(76) of the Companies Act, 2013, as both acquired entities are now step-down subsidiaries. However, none of the promoters, promoter group members, or directors of United Foodbrands have any financial or other interests in the acquired Thai entities. The acquisitions were disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Business Impact

Both Thai entities are newly incorporated companies with no operational history or turnover for the past three financial years. The acquisitions provide United Foodbrands with established legal entities to commence restaurant operations in Thailand, supporting the company's international expansion strategy in the Southeast Asian hospitality market.