The Nation: PACE to buy gourmet brand Dean & DeLuca

18 November 2014

PACE Development Corporation, a developer of super-premium mixed-use projects, is acquiring Dean & DeLuca, of one of the world's most iconic gourmet food brands, for US$140 million (Bt4.55 billion). The move is expected not only to boost PACE's capabilities as a luxury developer but also to fuel rapid growth of Dean & DeLuca's global gourmet food-and-beverage retailing business. PACE is also increasing to 100 percent its ownership of its flagship MahaNakhon mixed-use megaproject and related businesses through a share swap with Industrial Buildings Corporation.