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ThaiBev to acquire KFC stores in Thailand
THAI Beverage's (ThaiBev) subsidiary, The QSR of Asia Co, has entered into an asset sale and purchase agreement with Yum Restaurants International (Thailand) Co to acquire over 240 existing stores as well as a number of KFC stores in the pipeline in Thailand.
The preliminary sum for the existing stores is around 11.3 billion baht (S$462 million), and an additional amount for the KFC stores under development will be determined later.
Nongnuch Buranasetkul, ThaiBev's senior vice-president (food business), said: "The acquisition of the KFC stores represents more than just an opportunity to enlarge ThaiBev's food business.
"KFC's extensive network in Thailand will give the group direct access to multiple customer touch points across the country, enabling us to understand trends and stay at the forefront of the industry. This is essential for sustainable growth over the long term."