BANGKOK, Thailand – Thai Beverage Plc (ThaiBev), controlled by billionaire Charoen Sirivadhanabhakdi, is reportedly considering the sale of its KFC franchise business in Thailand, according to a Bloomberg report citing people familiar with the matter. The report said ThaiBev is working with Bank of America to gauge interest from potential buyers. However, discussions remain at an early stage and may not ultimately result in a sale.
ThaiBev operates its KFC business through QSR of Asia Co., part of its food division. QSR is one of three KFC franchise operators in Thailand, alongside Central Restaurants Group and Restaurants Development Co., which is backed by Indonesia’s Devyani International. According to company information, ThaiBev acquired approximately 240 KFC outlets in 2017 in a deal worth around 11.4 billion baht. QSR of Asia has since expanded to operate more than 500 KFC restaurants nationwide, making it the country’s largest KFC franchisee. Bloomberg reported that ThaiBev did not respond to requests for comment, while Bank of America declined to comment on the reported discussions. KFC is owned by Yum! Brands, the U.S.-based restaurant group that also owns Pizza Hut and Taco Bell.
