Thailand luxury property company Pace Development recently inked a US$125 million (THB4 billion) deal with Siam Commercial Bank to support its acquisition of iconic gourmet food brand Dean and Deluca.
The acquisition is expected to increase Pace’s business potential for high-end and premium lifestyle brands, in response to global market trends.
The deal was signed at Dean & Deluca’s Bangkok outlet at MahaNakhon’s retail offering Cube.
Pictured are Sorapoj Techakraisri (centre), Chief Executive Officer of Pace Development, with Pornson Patanasin (third from left), Executive Director,Natha Kittiaksorn (second from left), Chief Financial Officer, and Bayani Lauraya (far left), Chief Operating Officer. Also present at the signing agreement were Arthid Nanthawithaya (third from right), Senior Executive Vice President, Group Head, Wholesale Banking Group of SCB, Sirote Vichayabhai (secod from right), Executive Vice President, Head of the Capital Markets Division, and M.L. Chiradej Chakrabandhu (far right), Executive Vice President, Head of Corporate Banking 3, at Dean & Deluca, MahaNakhon CUBE.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
