Creador brews 2x return on OldTown
Malaysia's OldTown White Coffee has unusual origins. The brand came into existence in 1999 as a range of pre-mix instant beverages, offering creamer, coffee and sugar in a single sachet. It was only in 2005 that the company decided to venture into the restaurant space. Seven years later, it has around 230 restaurants and store-based business accounts for 65% of revenues.
OldTown went public in 2011 but India and Southeast Asia-focused GP Creador felt the company was undervalued. It bought a 10% stake in the company for MYR45.7 million ($15 million) in April 2012 and last...
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