Viet Thai International (VTI), a global conglomerate, has recently made a significant acquisition by taking over the Vietnam operations of Paris Baguette, a popular Korean bakery chain. The move aims to increase VTI’s presence in the rapidly growing food and beverage sector in Vietnam.
Paris Baguette first set foot in the Vietnamese market in 2012, operating under the legal entity Paris Baguette Vietnam Co. Over the span of a decade, the brand has established a chain of nine stores, primarily in Hanoi and Ho Chi Minh City. The bakery chain offers a unique blend of bakery products and cafe services to its customers.
According to VTI, this acquisition fits perfectly with its mission to “bring the best of the world to Vietnam and take the best of Vietnam to the world.” The company sees this as an opportunity to offer a popular international brand to the Vietnamese consumers while expanding its own operations.
VTI’s diverse portfolio includes stakes in other popular brands, such as Philippine-owned Highlands Coffee, Pho 24, and The Coffee Bean & Tea Leaf. Additionally, VTI operates Alid, a footwear and accessories business in Vietnam.
Earlier this year, there were discussions about revitalizing the long-delayed Initial Public Offering (IPO) of Highlands Coffee, nearly a decade after the plan was first announced.
David Thai, the founder and CEO of VTI, confirmed that the company is in active discussions with bankers and is considering potential listings in various global markets including Singapore, Hong Kong, Abu Dhabi, and the United States.
What is VTI’s latest acquisition?
VTI has recently acquired the Vietnam operations of Paris Baguette, a Korean bakery chain.
Where are the majority of Paris Baguette’s stores located in Vietnam?
Most of Paris Baguette’s stores in Vietnam are located in Hanoi and Ho Chi Minh City.
What are the future plans for VTI?
VTI is actively discussing its potential listings with bankers in various global markets such as Singapore, Hong Kong, Abu Dhabi, and the United States. The company is also considering to revive the long-delayed IPO of Highlands Coffee.
