KFC Thailand Seeks to Sell 236 Outlets for US$300 Million

Thai KFC franchisee Restaurants Development Company is considering selling its $300 million franchise business as revenue recovers with a recovery in Southeast Asia’s second-largest economy.

A Bangkok-based firm, backed by a consortium led by AIGF Advisors Pte Ltd, is in talks with at least one advisor about a possible sale, according to sources who declined to be named because they were not authorized to speak to the press.

In 2020, Restaurants Development considered selling its KFC business, but the process was shelved due to the Coronavirus pandemic.

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Thai consumer confidence in June increased for the first time in six months following the easing of COVID-19 curbs, resulting in the revival of the sale.

On its website, Restaurant Development reported its highest quarterly sales in 2022 and its highest annual same-store sales growth.

The company’s business is expected to grow further over the next few quarters as the economy recovers and travel restrictions ease.

According to Reuters, potential suitors are Central Restaurants Group and Thai Beverage Plc (TBEV.SI), which operates the other franchises in Thailand.

An inquiry to Thai Beverage and Central Group remained unanswered.

Restaurant Development employs over 5,000 people and operates more than 240 restaurants nationwide.

On its website, the company states that it owns 236 KFC outlets.