November 28, 2021

RIL Properties PLC in discussions to divest entire stake in Sri Lanka’s BreadTalk Franchise Rights Holder

1 min read

RIL Properties PLC is in discussions with a potential investor to divest its 100 percent stake in Crisis-hit FoodBuzz (Private) Limited, the sole custodian of franchise rights for BreadTalk.

RIL Properties said that the company has reversed its earlier decision to temporarily shut down all BreadTalk outlets from the 20th of March onwards.

During the immediate aftermath of the Easter Sunday Attack, FoodBuzz witnessed customer demand decreasing rapidly for BreadTalk, affecting business unexpectedly.

Eventually, demand and sales experienced a stable improvement, but once again fell into a recess following the COVID-19 pandemic.

The Singapore-based franchise, BreadTalk entered the Sri Lankan market in 2012 after appointing FoodBuzz as the sole custodian of franchise rights for BreadTalk in Sri Lanka, and FoodBuzz became part of R I L in 2015.

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