29 Apr '14, 11pm

French luxury group taking over Crystal Jade

French luxury group taking over Crystal Jade

Home-grown chain Crystal Jade will soon be running its restaurants with a dash of French flair, thanks to a new ownership structure on the menu. The company is being taken over by Paris-based luxury group LVMH Moet Hennessy Louis Vuitton's private equity arm, which has been on a buying spree over the past few months. L Capital Asia has signed a deal to buy "over 90 per cent" of Crystal Jade Group for an undisclosed sum, managing director Christina Teo told The Straits Times earlier this week. "It is a household brand that resonates with many people. We think we can add value," she said.

Full article: http://www.straitstimes.com/news/singapore/more-singapore...

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