(Dec 19): Oil and gas (O&G) engineering firm NauticAWT is diversifying into the food and beverage (F&B) business.

The group, which develops and produces Ultra High-Performance Concrete and Composites (UHPC) products, announced late on Wednesday night that it has entered into a share purchase agreement to acquire a 35% stake in Thailand-based Rich Restaurant Company for 70 million baht ($3.1 million).

Rich Restaurant operates the Chokdee Dimsum fast casual restaurant business, which serves Chinese-style dim sum and bak kut teh. The group also provides catering services through its central kitchen.

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