VNDirect invests in food operator

May 17, 2024 | 07:44

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Securities firm VNDirect has announced its plan to acquire Goldsun Food JSC, the owner of the King BBQ and ThaiExpress restaurant brands in Vietnam.

On May 14, VNDirect disclosed a decision of the company's Board of Directors on the acquisition of shares in Goldsun Food JSC. Upon completion of the acquisition, Goldsun Food JSC will become an affiliated company of VNDirect. The deal value has yet to be revealed.

Goldsun Food is one of the pioneering companies in the culinary field in Vietnam.

Through 11 years of establishment and development, Goldsun Food has affirmed its leading position in the food and beverage industry with 13 big brands such as Tasaki BBQ, ThaiExpress, Hotpot Story, Tasaki BBQ, Shushi Kei, and many others.

As of present, Goldsun Food operates over 170 restaurants, serving 2.4 million guests per year.

King BBQ is the company's flagship brand, with 70 restaurants nationwide. Since its inception in 2011, King BBQ has started the trend of Korean barbecue restaurants in Vietnam.

Meanwhile, Thai Express is currently operating 11 restaurants, including 10 locations in Hanoi and one in Binh Duong. Hotpot Story, BukBuk, and Tasaki BBQ chains have 39 outlets, eight outlets, and seven outlets, respectively.

According to Statista, the food and beverage sector in Vietnam recorded a total revenue of over VND590.9 trillion ($23.2 billion) in 2023, indicating an increase from the year before.

During that year, full-service restaurants accounted for the largest revenue share among all food service establishment types in this sector.

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