Golden Gate acquires The Coffee House chain

In December 2024, Golden Gate's board of directors approved a plan to purchase 99.98 per cent of the charter capital of a company in the food and beverage (F&B) industry. However, the company brand was not disclosed.

At that time, Golden Gate held an extraordinary meeting and decided to cancel the plan to pay a cash dividend at a rate of 53 per cent for 2023. This move aimed to focus its financial resources on large-scale investment and expansion projects both domestically and internationally for 2024-2025.

In January 2024, The Coffee House increased its charter capital from nearly VND150 billion ($5.8 million) to more than VND400 billion ($15.7 million). The foreign shareholder, Ficus Asia Investment – Seedcom's parent company, held nearly 19 per cent of The Coffee House's capital. The remaining shareholders were not disclosed.

The deal takes place amid The Coffee House's lacklustre performance. Last year, the chain shut down over 30 outlets in Can Tho, Danang, Haiphong, Hanoi, and Ho Chi Minh City. As of present, the chain runs 93 outlets, a sharp drop from 150 outlets in late 2023.

"In the current context, optimising costs to improve operational efficiency has become a priority. This decision aims to adapt to changing conditions, helping to ensure business efficiency across the system," a representative of The Coffee House explained about the move to close a series of stores in August 2024.

According to Vietdata, The Coffee House's revenue experienced fluctuations from 2021-2023. In 2022, the chain's revenue surged 67 per cent from the previous year. However, the chain saw its revenue shrink by 11 per cent to VND700 billion ($27.5 million) in 2023.

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