Thailand: Food Capitals acquires two restaurant operators for $11.6m

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Food Capitals Plc, the franchise operator of Domino’s Pizza and Kyochon, has acquired two companies for 400 million baht ($11.6 million) in a bid to expand its business in domestic and overseas markets, and increase the group’s revenue significantly.

Of the total investment, it spent 289 million baht in acquiring Osha Group‘s food business in the United States and the remaining 121 million baht in taking over Bangkok-based G Enterprise & Co.

Currently, California-based Osha has five restaurant brands – Lao Table, Osha Thai, Osha Thai 3rd Street, Osha Express and After Osha. Meanwhile, G Enterprise & Co operates four restaurants brands in Thailand, comprising Pirate Chambre, Chingcha Chalee, Umami Falabella and Moom Muum Park.

Tanakorn Angpubate, CEO of Food Capitals, said that these acquisitions would boost the group’s revenue more than 50 per cent from 714 million baht last year.

“Thanks to the acquisitions, we expect to see the profit this year after our operation result had been red for a continuous period of five years,” Tanakorn said.

Food Capitals also set aside a separate budget of 200 million baht to open two new restaurants in Thailand and another two in the US.

He cited that G Enterprise’s strength is its food culture, which Food Capitals will give the support and accelerate its expansion outside Thailand.

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