Kuala Lumpur, 8th July 2020,
Restaurants Development Co is exploring the sale of its KFC franchise business in Thailand for about US$200 million, according to people with knowledge of the matter.
The Bangkok-based company is working with at least one adviser on the potential sale, the people said, asking not to be named as the discussions are private. Restaurants Development operates about 200 KFC outlets that employ about 4,000 staff throughout the country, according to its official website.
The talks are still at an early stage and there is no guarantee they will result in a transaction, the people said.
Representatives for Restaurants Development did not immediately respond to requests for comment. The company is backed by a consortium of Thai and Asian investors, according to its website.
If the sale materialises, the buyer would join retail conglomerate Central Group of Companies Co and beer giant Thai Beverage Pcl in operating hundreds of KFC outlets in Southeast Asia’s second-largest economy. ThaiBev, founded by billionaire Charoen Sirivadhanabhakdi, bought more than 240 existing KFC restaurants in 2017 for about 11.3 billion baht. Central Group’s unit Central Plaza Hotels & Resorts Pcl operates 275 KFC outlets.
KFC is operated by Louisville, Kentucky-based Yum! Brands Inc, which also runs the Taco Bell and Pizza Hut chains.
Source : The Edge Market