If you are familiar with Chang beer and Sangsom beer, then you must know the giants behind them. Thai Beverage is now venturing into fast food business after seeing the demand for fried chicken in the Asian market. Thai Bev has agreed to buy the KFC outlets in Thailand from Yum Restaurants International (Thailand) Co. for an amount of 11.3 billion Thai baht ($339.6 million).
The decision was fueled by Charoen Sirivadhanabhakdi’s vision to venture further into the food business and to capture the KFC’s increasing popularity in Thailand.
Known for his urge to diversify the ThaiBev’s operation, Charoen Sirivadhanabhakdi, the founder of the company, wants to generate more revenue from alcoholic beverages by 2020.