Jardine Pacific is to buy the Oliver's Super Sandwiches chain from Dairy Farm in an asset shuffle between two arms of the Jardine Matheson group.
Oliver's, which has 22 outlets in Hong Kong and a franchise network that operates five outlets in Malaysia and three in Philippines, will come under Jardine Restaurants Group (JRG).
JRG operates more than 250 outlets around Asia and Hawaii, including Pizza Hut, Taco Bell, Ruby Tuesday and Nine to Five.
Robert Neslund, Dairy Farm's regional director North Asia, said the sale would be a 'win' for both companies because it would allow Oliver's to be taken to the next level of development and customer service.
Dairy Farm would continue to focus on retail services through Wellcome supermarkets, Mannings stores and 7-Eleven convenience stores. It also owns a 50 per cent stake in restaurant and catering group Maxim's Caterers.