Devyani International Ltd, a quick service restaurant (QSR) operator, on Monday (December 18) said it’s planning to acquire 274 KFC restaurants in Thailand through its Dubai-based subsidiary Devyani International DMCC.
The acquisition is facilitated through a share purchase agreement with Restaurants Development Co Ltd, the current operator of the extensive KFC restaurant chain spread across Thailand, Devyani International said in a regulatory filing.
With more than 4,500 employees under its wing, Restaurants Development has become a key player in the Thai QSR landscape, boasting 274 KFC outlets as of September 2023.
The deal, expected to conclude on or before March 31, 2024, is contingent upon customary regulatory approvals, laying the groundwork for Devyani International to expand its footprint in the lucrative Thai market.
This strategic venture into Thailand is not a solo endeavour…
