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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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jts-khorat Gold Member

jts-khorat

Advanced Member
(edited)
23 hours ago, Georgealbert said:

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%.

Even in Thailand, you need to do some very creative accounting so that you basically pay zero tax.

It is actually quite sad, because the Sirivadhanabhakdi family is in the top of the richest families in all of Thailand (currently #5).

Edited by jts-khorat

jts-khorat Gold Member

jts-khorat

Advanced Member
4 minutes ago, rattlesnake said:

But the Thai Zinger burger tastes amazing and it is definitely chicken.

It is really tasty indeed: whenever I come to Thailand, I actually make a point eating at least one, it has become kind of a ritual (whenever the wife decides to do her big shopping excursions for the whole family in one of the giant malls).

Compared to KFC in Germany, it really is very good.

The reason: KFC in Thailand uses a lot of the "cheap" cuts, which are not earmarked for export, which means the pieces with lots of fat; in Germany, they do actually use chicken breasts (at least a percentage), which also makes KFC there really expensive.

Also, Thai KFC does contain a lot of MSG, as somebody already mentioned. Fat is a taste carrier, as is MSG. Which makes it really yummy.

newnative Diamond Member

newnative

Advanced Member
15 hours ago, spidermike007 said:

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

Sorry, no interest in bridges--I just do condos and houses--but I am interested in the court case you mentioned that ordered KFC to remove the word 'chicken' from their name. What's the court case number and what court? With AI, should be easy for you to find and post it, although I'm coming up empty with my search--I keep getting that it's an urban myth. Looking forward to your report.

While you're at it, you might look into why Dunkin Donuts changed its name to just Dunkin back in 2019. They 'claim' it was because the chain had expanded into much more than just donuts but I'm thinking you'll be able to find that it was for something nefarious--perhaps too many donut products that were not actually the traditional donut-shape and a court ordered them to change their name.

spidermike007 Star Member

spidermike007

Advanced Member
42 minutes ago, newnative said:

Sorry, no interest in bridges--I just do condos and houses--but I am interested in the court case you mentioned that ordered KFC to remove the word 'chicken' from their name. What's the court case number and what court? With AI, should be easy for you to find and post it, although I'm coming up empty with my search--I keep getting that it's an urban myth. Looking forward to your report.

While you're at it, you might look into why Dunkin Donuts changed its name to just Dunkin back in 2019. They 'claim' it was because the chain had expanded into much more than just donuts but I'm thinking you'll be able to find that it was for something nefarious--perhaps too many donut products that were not actually the traditional donut-shape and a court ordered them to change their name.

For a huge corporation it's pretty easy these days to have a PR Company create an urban myth Legend.

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