Bold bid for expansion by Food Capitals
Food Capitals, Thailand’s franchisee for Domino’s Pizza and South Korean fried-chicken restaurant chain Kyochon, has acquired two companies for THB400 million (US$11.6 million) in a bid to expand both domestically and overseas.
It has spent THB289 million to acquire Osha Group’s food business in the US, with the remaining THB121 million for its takeover of Bangkok-based G Enterprise.
California-based Osha has five restaurant brands – After Osha, Lao Table, Osha Express, Osha Thai and Osha Thai 3rd Street – while G Enterprise’s four restaurant brands are Chingcha Chalee, Moom Muum Park, Pirate Chambre and Umami Falabella.
Food Capitals CEO Tanakorn Angpubate expects the acquisitions to boost the group’s revenue by more than 50 per cent from THB714 million last year – following five years of red ink.
The company has also set aside THB200 million to open two restaurants in Thailand and another two in the US.
Food Capitals’ brands include Domino’s Pizza in Thailand and Cambodia, Kyochon in Thailand, and Red Planet Hotels across Asia.