VNDirect to divest from Goldsun Food

VNDirect announced on March 21 that it has passed a resolution to transfer all of its shares in Goldsun Food. After the transfer, Goldsun Food will no longer be an affiliated company of VNDirect. The value of the deal has not been not disclosed.

VNDirect's Board of Directors additionally grants the general director the authority to negotiate, seek for, and select transfer partners, as well as transfer value.

VNDirect announced it was investing in Goldsun Food, the operator of the King BBQ and Thai Express restaurant chains, in May last year.

According to its fourth quarter financial statement of 2024, VNDirect held a 5.5 per cent stake in Goldsun Food. The securities firm has a voting ratio of 36 per cent, indicating its veto power at Goldsun Food. The deal was worth VND78.4 billion ($3 million).

Goldsun Food, originally Redsun-ITI, operates 13 renowned food and beverage brands, such as King BBQ, Tasaki BBQ, Thai Express, Hotpot Story, Tasaki BBQ, Buk Buk, Khao Lao, Sushi Kei, and more.

The company boasts over 170 restaurants, serving 2.4 million people per year. The company's flagship brand, King BBQ, has 70 restaurants nationwide. Established in 2011, King BBQ pioneered the Korean barbecue restaurant craze in Vietnam.

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

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

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