Chaswood Resources Group Acquires Six TGI Fridays Restaurants in China
Transaction Completes Fridays International Refranchising Initiative, Further Expands Chinese Presence
Kuala Lumpur, Malaysia and Carrollton, Texas (RestaurantNews.com) Chaswood Resources Group (“Chaswood”), a long-established TGI Fridays franchisee, announced that it has completed the acquisition of an additional six TGI Fridays restaurants in Beijing and Shanghai (“Acquisition”) on April 20, 2015. Chaswood currently operates 20 TGI Fridays restaurants in Malaysia, Indonesia and Singapore.
As part of the Acquisition, Chaswood has committed to the development of 10 new TGI Fridays restaurants in Shanghai and Beijing, in addition to the 4 new restaurants it has previously agreed to develop in Shenzhen. Chaswood is…