Japanese hamburger-restaurant chain Mos is selling a 74.3 per cent stake in its Thailand operations to bolster its local presence.
The Mos Thailand shares are being acquired by former Thai skincare entrepreneur Pitharn Ongkosit, who will undertake to expand the business within the territory and increase the number of outlets within the region.
The Japanese brand will retain all remaining shares in the business.
The brand’s original partnership failed after local operators kept just six outlets running since the firm’s 2007 launch in Thailand. The partners now aim to have 45 shops in operation within five years.
The firm has 1321 outlets in Japan and 265 in its second-largest market, Taiwan.