ThaiBev Agrees to Acquire KFC Stores in Thailand in THB11.3 Billion Deal
August 08 2017 - 8:02AM
Dow Jones News
By Joanne Chiu
Thai Beverage PCL (Y92.SG) has agreed to buy the KFC outlets in
Thailand from Yum Restaurants International (Thailand) Co. for an
initial consideration of 11.3 billion Thai baht ($339.6
million).
ThaiBev said late Tuesday that the deal involves acquiring more
than 240 existing and a number of developing KFC stores in
Thailand. It said it plans to fund the deal, which is expected to
be completed by the end of the year, with internal resource and
bank borrowing.
The agreement comes as the Southeast Asian beverage company
seeks to expand further into the food business and capture the KFC
brand's rising popularity in Thailand.
Nongnuch Buranasetkul, ThaiBev's senior vice president of food
business in Thailand, said the company sees potential to expand its
customer base across the country through the acquisition, allowing
it to gain further insight into consumer trends.
Write to Joanne Chiu at joanne.chiu@wsj.com
(END) Dow Jones Newswires
August 08, 2017 07:47 ET (11:47 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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