Devyani International buys Thailand's KFC operator for $129M, gains 274 outlets
India's largest KFC franchisee acquires Restaurants Development Co via its Dubai unit (51% stake, Temasek holds 49%) for $128.9 million. The deal adds 274 Thai KFC outlets to Devyani's 500-store base across India, Nepal and Nigeria, marking a major Southeast Asia push by March 2024.
What happened
Devyani International, India's largest KFC franchisee, will acquire Thailand's Restaurants Development Co for $128.9 million via its Dubai unit (51% stake;
Key facts
- $128.9 million
- 274 outlets
- 4,500 employees
- 51% stake
- 500 KFC outlets
Why this matters
Structuring through the Dubai unit with Temasek retaining 49% offers a capital-light template for future cross-border QSR roll-ups in emerging markets.