Devyani International is entering the Thai market through the acquisition of a controlling interest in Restaurants Development Co., Ltd., which operates 274 KFC restaurants, marking a significant expansion of its quick-service restaurant operations.

Target Information

Devyani International Limited, renowned for operating KFC and Pizza Hut quick-service restaurants in India, is expanding its reach by entering the Thai market. Through its subsidiary, Devyani International DMCC, the company has signed a share purchase agreement to acquire a controlling interest in Restaurants Development Co., Ltd. (RD) Thailand, which manages a vast network of 274 KFC restaurants across the country and employs over 4,500 individuals.

This move comes as shares of Devyani surged significantly, reflecting strong market optimism regarding the company’s strategic decision to broaden its operational footprint. The acquisition is expected to be finalized on or before March 31, 2024, pending all necessary regulatory approvals.

Industry Overview in Thailand

The fast-food industry in Thailand has shown robust growth, with KFC maintaining its position as the largest quick-service restaurant (QSR) chain in the country. Driven by a young population and increasing urbanization