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ThaiBev splurges B11.3bn on KFC fast-food push

BANGKOK: Thai Beverage Plc, the brewer controlled by tycoon Charoen Srivadhanabhakdi, has entered into an agreement to buy more than 240 KFC stores in Thailand for B11.3 billion.


Bangkok Post

Wednesday 9 August 2017, 09:21AM


ThaiBev has agreed to buy 240 KFC stores throughout Thailand for B11.3 billion. Photo: Post Today
ThaiBev has agreed to buy 240 KFC stores throughout Thailand for B11.3 billion. Photo: Post Today

ThaiBev told the Singapore Stock Exchange on Tuesday (Aug 8) that its subsidiary QSR of Asia Co Ltd had entered into an asset sale and purchase agreement with Yum Restaurants International (Thailand) Co Ltd to acquire more than 240 existing and a number of developing KFC stores in Thailand.

Nongnuch Buranasetkul, senior vice-president for the food business, said besides the business expansion, the deal would give ThaiBev access to KFC’s network across the country.

“With QSA’s restaurant management expertise, we are well positioned to accelerate KFC’s further expansion in Thailand,” she said in the statement. (See statement here.)

The acquisition is expected to be completed by the end of this year, the statement said.

Yum announced in January 2016 a plan to sell all its self-managed restaurants so it could focus on product development.

C and C Marine

The company also sold its Pizza Hut branches to Thoresen Thai Agencies Plc, a shipping group controlled by the Mahagitisiri family.

There are around 600 KFC outlets run by Yum and two franchisers in Thailand. Around 200 are owned by Central Retail Group and a further 100 by Restaurant Development Co Ltd, a joint venture of Asean Industrial Growth Fund.

 

Read original story here.

 

 

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