KFC franchisee said to weigh $200m sale of Thai business

A family stands outside a Yum! Brands Inc. KFC restaurant at Asiatique The Riverfront open-air mall in Bangkok, Thailand, on Friday, Dec. 18, 2015. Photographer: Brent Lewin/Bloomberg

Restaurants Development Co. is exploring the sale of its KFC franchise business in Thailand for about $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 didn’t 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 materializes, 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 ($361 million). 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.

Bloomberg

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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