SINGAPORE (June 18): F&B group No Signboard has acquired the remaining 20% stake in Danish Breweries as well as signed a franchise agreement to develop and operate Little Sheep restaurants in Singapore.

Danish Breweries owns its signature Draft Denmark brand as well as manufactures and distributes Draft Denmark lagers in Singapore. Established in 2014, Draft Denmark is distributed across around 300 outlets in Singapore comprising mainly pubs, coffeeshops and clubs. Draft Denmark sells 80,000 barrels or 2.4 million litres of lager annually in Singapore.

No Signboard subsidiary, Tao Brewery, entered into the sale and purchase agreement with Samuel Chen Shangming to acquire the remaining stake in Danish Breweries for a consideration of $400,000. Chen is an executive under No Signboard’s beer business.

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