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Thoresen Thai bulks up with Pizza Hut Thailand buy

In an unusual diversification shipping, offshore and logistics company Thoresen Thai Agencies (TTA) is buying Pizza Hut in Thailand.

TTA said it’s 70% owned subsidiary PH Capital had entered into an asset sale and purchase agreement with Yum Restaurants International (Thailand) to acquire its Pizza Hut business in the country and enter into franchise agreements with Yum. The remaining 30% of PH Capital is owned by company belonging to Ausana Mahagitsiri, a director of TTA.

TTA said that tentatively PH Capital would take over operation of Pizza Hut restaurants in Thailand towards the end of the second quarter of 2017 on completion of the acquisition.

Explaining the benefit the transaction TTA said: “To support the company’s subsidiary PHC to be Pizza Hut franchisee in Thailand to develop and grow the business.”

Financial details of the deal, which is TTA’s first foray in the restaurant business, were not revealed.

Yum also owns the KFC franchise business in Thailand.

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