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KFC Thailand operator with 500-plus stores may be sold

Thai Beverage Public Company Limited, the Thai drinks group behind Chang beer and SangSom rum, is reportedly considering selling its KFC franchise business in Thailand.

Bloomberg, citing people familiar with the matter, said ThaiBev is working with Bank of America to assess potential buyer interest. The discussions are ongoing and may not result in a transaction.

The business is operated by QSR of Asia Company Limited (QSA), part of ThaiBev's food division. QSA runs more than 500 KFC branches nationwide, making it the country's largest KFC franchise holder.

Buyer interest is being tested

ThaiBev is controlled by billionaire Charoen Sirivadhanabhakdi and bought 240 KFC branches in 2017 for about 11.4 billion baht.

QSA is one of three KFC franchise holders in Thailand. The other operators are Central Plaza Hotel Public Company Limited and Restaurants Development Company Limited, which is backed by Devyani International.

No sale has been announced, and Bloomberg's report did not suggest that branches would close or that there would be immediate changes for customers. A sale of ThaiBev's KFC operation, if completed, would transfer the business to a new owner rather than remove the chain from the market.

Food division delivers thin returns

Kaohoon International reported that ThaiBev's food segment, including the KFC business, recorded attributable profit of 54 million baht from sales of 11,325 million baht in the six months to March 31, 2026.

That works out at a margin of about 0.5%. The segment accounted for just 0.34% of ThaiBev's total group profit of 15,965 million baht during the same period, highlighting its relatively low returns compared with the group's beverage operations.

Bloomberg reported in 2020 that Restaurants Development had also considered selling its Thailand KFC franchise business, then valued at about US$200 million. It was reported at the time to operate around 200 branches and employ roughly 4,000 people nationwide.

No comment from ThaiBev

ThaiBev had not replied to Bloomberg's request for comment on the latest report, while Bank of America declined to comment.

KFC is operated globally by Louisville, Kentucky-based Yum Brands, which also runs Taco Bell and Pizza Hut.

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22 July 2026

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Nemises Gold Member

Nemises

Advanced Member

0.5% profit margin? No wonder the chicken pieces keep getting smaller. 🍗

JimHuaHin Platinum Member

JimHuaHin

Advanced Member

Maybe CP will put in a bid; but probably not a big enough profit margin for the CP appetite.

Wuvu2 Gold Member

Wuvu2

Advanced Member
3 hours ago, Georgealbert said:

That works out at a margin of about 0.5%.

"Keep the corporate tax bill under 1,000 baht per year" - said the CEO to the accountant 🙄

jacko45k Star Member

jacko45k

Advanced Member
(edited)
39 minutes ago, JimHuaHin said:

Maybe CP will put in a bid; but probably not a big enough profit margin for the CP appetite.

I had heard KFC was losing popularity, so perhaps a good price is to be had. I tend to recall Ben Elton comments on KFC.

Edited by jacko45k

Gottfrid Star Member

Gottfrid

Advanced Member
52 minutes ago, JimHuaHin said:

Maybe CP will put in a bid; but probably not a big enough profit margin for the CP appetite.

Nah, they will be looking at the real numbers. 😂

ronnie50 Platinum Member

ronnie50

Advanced Member

Interesting. I always assumed Minor Foods was the majority owner in Thailand.

Of all the fast food chains, KFC must be the cheapest for Thai consumers (e.g. compared with Burger King, McDonalds, etc.). I stopped eating at the Thai KFCs because the chicken was usually not fully cooked and a bit raw inside. Having said that, I noticed the same thing at a location in Vietnam.

Captain Flack Star Member

Captain Flack

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Post breaking forum guidelines removed. @srowndedbyh2o

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redwood1 Ruby Member

redwood1

Advanced Member

People know MSG is bad for your health and KFC is full of MSG....People are not stupid now...

KFC is loaded to the gills with MSG

Front Row Silver Member

Front Row

Advanced Member

My guess is Minor Group will at least take a look at it. CP will consider it but it probably would only interest CP if they’re able to integrate the poultry supply chain. But they may already be the main supplier. Who knows.

241195_1469957797 Senior Member

241195_1469957797

Member

I won't miss KFC... it can go!😎

redwood1 Ruby Member

redwood1

Advanced Member

Bring back Texas Chicken....

JerryM Gold Member

JerryM

Advanced Member
16 minutes ago, redwood1 said:

Bring back Texas Chicken....

AKA Church's of San Antonio, Texas in US. But didn't fare so well here.

about KFC: Great cole slaw.

newnative Diamond Member

newnative

Advanced Member
6 hours ago, spidermike007 said:

The last time I ate that junk was in Kuala Lumpur before going into a movie theater, we didn't have enough time to eat and we realized we were both starving so we bought some and smuggled it into the theater. After starting to eat it we both looked at each other and said what is this, it doesn't taste anything like chicken. My Thai wife said it was the worst chicken she had ever had in her lifetime.

In America they found out that they were using a featherless, and beakless variety of creature, and the FDA warned Kentucky Fried Chicken that they could no longer use the name due to the fact that they couldn't identify what kind of creature that actually was. They were legally required to remove the name chicken from the title therefore it became KFC.

No. KFC was never legally required to remove the word "chicken" from its name. The 1991 rebrand from Kentucky Fried Chicken to KFC was a strategic business decision designed to distance the brand from the word "fried" due to shifting consumer health trends, and to promote items other than just poultry. [1, 2]

The claim that they couldn't use the word "chicken" is a popular urban legend often tied to conspiracy theories about genetically modified mutant birds. [1, 2]

spidermike007 Star Member

spidermike007

Advanced Member
1 hour ago, newnative said:

No. KFC was never legally required to remove the word "chicken" from its name. The 1991 rebrand from Kentucky Fried Chicken to KFC was a strategic business decision designed to distance the brand from the word "fried" due to shifting consumer health trends, and to promote items other than just poultry. [1, 2]

The claim that they couldn't use the word "chicken" is a popular urban legend often tied to conspiracy theories about genetically modified mutant birds. [1, 2]

And I have a really incredible bridge that I can sell you for just 8,000 baht. Interested?

save the frogs Star Member

save the frogs

Advanced Member

Very creepy KFC advertisement

save the frogs Star Member

save the frogs

Advanced Member
(edited)

Synopsis of the creepy KFC commercial:

KFC’s "All Hail Gravy" campaign, unleashed in March 2025 in the U.K., is a 120-second fever dream where robed figures worship a golden egg before dunking a man into a gravy lake, transforming him into a Mini Fillet—an over-the-top flex of brand fanaticism. Directed by Vedran Rupic and concocted by Mother, it’s a Gen Z-targeted shockfest that’s less clever than it thinks, leaning hard into grotesque absurdity under the guise of humor. While it spiked KFC’s modernity score by 10% and U.K. sales by 5% in Q4 2024, it also racked up nearly 600 complaints to the Advertising Standards Authority for its off-putting, cultish vibes. Critics argue it’s a tasteless misstep, alienating more viewers than it charms with its try-hard edginess and muddled messaging. They’ve not just crossed a line into cannibalism and satanic territory—they’ve cannonballed into a vat of bad taste that’s tough to swallow.

Edited by save the frogs

Patong2021 Diamond Member

Patong2021

Advanced Member
9 hours ago, jacko45k said:

The less I think about this the better!

No need because the story is a lie. It never happened.

Nick Carter icp Star Member

Nick Carter icp

Advanced Member
(edited)
8 hours ago, redwood1 said:

People know MSG is bad for your health and KFC is full of MSG....People are not stupid now...

KFC is loaded to the gills with MSG

The idea that MSG (monosodium glutamate) is bad for you is largely a myth. The U.S. Food and Drug Administration (FDA) classifies MSG as "Generally Recognized as Safe" (GRAS). Health authorities worldwide, including the World Health Organization (WHO), agree that normal consumption is safe and poses no long-term health risks for the general public

In fact, MSG is naturally found in everyday foods like tomatoes, mushrooms, and aged cheeses. It can even be a helpful tool in a balanced diet, as it contains about one-third the sodium of table salt and can be used to reduce overall sodium intake while maintaining a savory, "umami" flavor.

Edited by Nick Carter icp

save the frogs Star Member

save the frogs

Advanced Member
4 minutes ago, Patong2021 said:

Your claims may be embraced by gullible idiots who want to believe the worst, but it has reached the point where your stories are so deceitful as to suggest a malicious intent.

Maybe he owned stocks in KFC and lost money.


Or he hit on a girl working at KFC and she turned him down.

Ralf001 Star Member

Ralf001

Advanced Member
8 hours ago, Front Row said:

My guess is Minor Group will at least take a look at it. CP will consider it but it probably would only interest CP if they’re able to integrate the poultry supply chain. But they may already be the main supplier. Who knows.

I Reckon PTT will be also taking a look too, after all they shutdown Texas Chicken due to poor market share (KFC has 90% in Thailand).

vangrop Silver Member

vangrop

Advanced Member
20 hours ago, Nemises said:

0.5% profit margin? No wonder the chicken pieces keep getting smaller

They should get bigger man

rattlesnake Diamond Member

rattlesnake

Advanced Member
18 hours ago, spidermike007 said:

The last time I ate that junk was in Kuala Lumpur before going into a movie theater, we didn't have enough time to eat and we realized we were both starving so we bought some and smuggled it into the theater. After starting to eat it we both looked at each other and said what is this, it doesn't taste anything like chicken. My Thai wife said it was the worst chicken she had ever had in her lifetime.

In America they found out that they were using a featherless, and beakless variety of creature, and the FDA warned Kentucky Fried Chicken that they could no longer use the name due to the fact that they couldn't identify what kind of creature that actually was. They were legally required to remove the name chicken from the title therefore it became KFC.

It depends on the country. In France, KFC is disgusting and overpriced. From your experience as given above, it seems like it is the same in Malaysia. But the Thai Zinger burger tastes amazing and it is definitely chicken.

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