PH Capital, a subsidiary of Thoresen Thai Agencies (TTA), has signed an agreement to acquire the Pizza Hut business in Thailand from Yum Restaurants International (Thailand) for an undisclosed amount.
PH Capital is a 70:30 JV firm established by TTA and PM Capital, a company run by the Mahagitsiri family that manages global F&B brands.
“We see food business as a fast-growing, low-volatility business. We make decisions to invest based on the target businesses’ management vision and reputation,” says TTA CEO/president Chalermchai Mahagitsiri.
PH Capital will run all 92 Pizza Hut restaurants in Thailand under the supervision of Pizza Hut by the end of the second quarter of this year, says the company. Director Ausana Mahagitsiri says it will modernise the outlets, add seats and revamp its home-delivery service – and open more than 100 new restaurants.
Pizza Hut Thailand is an affiliate of restaurant firm Yum! Brands, which also manages KFC, Pizza Hut and Taco Bell with 43,500-plus restaurants in more than 135 countries.