India’s Devyani International announced its strategic move into the Thai market by acquiring Restaurants Development Co for a substantial $128.9 million. The deal, set to conclude by March 2024, positions Devyani to take charge of 274 KFC outlets in Thailand, presently operated by the acquired company, employing over 4,500 individuals. Through its Dubai unit, where it holds a majority stake of 51%, Devyani orchestrated the acquisition, with the remaining ownership held by Singapore-based private investment firm Temasek Holdings. In a statement, Devyani expressed optimism about Thailand’s robust poultry market, emphasizing…
Devyani International Expands into Thailand with $129 Million KFC Deal
