Devyani announces Thai expansion plans

Devyani International , a leading Indian QSR player, is set to acquire Restaurants Development, a Thailand-based QSR operator, and foray into the Thailand market. The acquisition, valued at Rs 1,066 crore, will be carried out by one of Devyani's subsidiaries, which will hold a majority stake through a series of transactions. Of the total amount, Devyani International will contribute Rs 341 crore. Additionally, Temasek, the shareholder in the subsidiary, will contribute Rs 328 crore, and a local Thai partner will invest Rs 12 crore. The balance will be financed through local bank debt. What does Restaurant Development do? Restaurant Development is a leading QSR player in Thailand, operating 274 KFC stores. Since FY20, it has added 147 new stores in Thailand, and in CY22, it clocked an annual revenue of Rs 1,165. Historical performance of Restaurant Development Financials YTDFY24 FY23 FY22 FY21 2Y g