Devyani International plans to buy 274 KFC locations as it expands its presence in Thailand by 6%

19 Dec 2023 , 12:08 PM

The early trade on December 19, one day after the Indian operator of KFC and Pizza Hut announced a collaboration to join the quick service restaurant (QSR) industry in Thailand, saw a 6% increase in the share price of Devyani International.

Devyani International was trading at Rs 195.40 at 9:18 a.m. on the BSE, up Rs 12.10, or 6.60%.

In order to penetrate the QSR/limited service restaurant (LSR) market in Thailand, Devyani International DMCC, Dubai, a subsidiary of Devyani International, announced its entry into the country by signing a share-purchase agreement to acquire a controlling interest in Restaurants Development Co Ltd (RD) Thailand.

As of September 30, 2023, RD employed over 4,500 workers and ran a chain of 274 KFC locations in Thailand.

The deal is subject to all regular regulatory and other approvals and is anticipated to close on March 31, 2024, at the latest.

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