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Reborn Coffee Ramps Up Southeast Asia Expansion Efforts; Forms JV With COLLECTIVE Wholesale Distribution Network

Benzinga Real-time News · Jan 19, 2023 11:52

REBN -2.82%

Reborn Coffee Inc (NASDAQ:REBN) has signed a Memorandum of Understanding with COLLECTIVE PROJECT SDN BHD to establish an equity joint venture to expand and develop its coffee brand throughout Southeast Asia.
COLLECTIVE owns and operates a wholesale distribution network with various specialty cafes in Malaysia. COLLECTIVE has been sourcing, roasting and distributing specialty coffees for over 7 years to cafes throughout Malaysia.
"We have found an ideal partner with COLLECTIVE and its founder Barrie Nasim to launch our brand into the Southeast Asian market," said Jay Kim, CEO of Reborn.
"We will work together to bring the new Reborn Coffee Malaysia Sdn Bhd, incorporated in Malaysia, to engage high profile real estate agents and identify potential strategic locations to open Reborn branded outlets in Singapore and Jakarta," added Kim.
Reborn said it has also identified profitable companies with synergy for potential acquisition in Malaysia and Jakarta to contribute to its earnings.
Price Action: REBN shares are trading higher by 3.66% at $1.27 on the last check Thursday.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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