GIFT Hospitality, a subsidiary of Gift Infinite Public Company Limited or GIFT, recently acquired high-potential food & beverage businesses that fit the lifestyles of young consumers, according to the Board of Directors’ approval on the matter. The restaurants and hangout places include BEAM Club and BEAMCUBE, popular hangout locations; Beer Belly, a Thai-fusion restaurant; OKONOMI, a renowned Japanese restaurant from New York City, and Mom’s Touch, a leading Korean burger and fried chicken restaurant – a total of 12 locations. The acquisition, worth 291.4 million baht, also included a transfer of the lease agreement of the locations of all restaurants. With this acquisition, GIFT will operate food & beverage businesses as planned, and is ready to further grow and expand its businesses according to today’s trends.
Mr. Chot Chetchotisak, Deputy Chief Executive Officer, GIFT Infinite Public Company Limited, said, “Today, the food & beverage industry continues to grow. Hangout spots are emerging in line with the tourism industry, while serving the needs of the locals who love to hang out with their friends. At the same time, Japanese restaurants are also expanding, reflected by the rising number of Japanese restaurants in Thailand which is ranked sixth in the world. OKONOMI is a Japanese restaurant that serves the demands of health lovers, which is in line with the rising trend of healthy food. On the other hand, the fast food business also continues to grow, while Mom’s Touch, the leading quick service restaurant brand from Korea, can expand together with the popularity of Korean food in Thailand. While determined to run businesses to serve current lifestyles, we aim to operate high-margin businesses which are agile enough to overcome disruptions, and have potential to scale and grow in the long run. Consequently, GIFT Hospitality decided to invest in restaurants and hangout spots with high potential.”
After the approval from the Board of Directors’ meeting, GIFT proceeded to acquire food & beverage businesses under three business lines, as follows:
- Restaurants – ‘OKONOMI,’ the Japanese restaurant by a famous chef from New York, comprising a total of three branches, worth 35.7 million baht
- Hangout places under ‘BEAM X Company Limited’ which include two hangout spots, ‘BEAM Club’ and ‘BEAMCUBE’ and a Thai-fusion restaurant, ‘Beer Belly,’ worth over 195.1 million baht.
- Quick Service Restaurant (QSR) under ‘Mom’s Touch (Thailand) Company Limited’ which currently operates a fried chicken and burger restaurant business from Korea, Mom’s Touch, with a total of six branches, worth over 60.6 million baht.
The acquisition includes 12 restaurants and hangout places, worth a total of 291.4 million baht.
“These restaurants that the company acquired are unique in its own food and beverage offering, with quality, diversity, as well as their prime locations that are easily accessible to both locals and tourists. Additionally, they also have expansion potential into new brands to fulfill our portfolio in the future. After the official incorporation of these restaurants under GIFT, we will move forward in adding branches for wider accessibility, for instance, OKONOMI will expand itself through Café Module, which requires relatively lower investment while boosting rapid growth; BEAMX will also have more branches in Bangkok and tourist areas; lastly, Mom’s Touch will expand as a franchise business. By the fourth quarter of 2024, the revenue from Food & Beverage will be recognized, leading to exponential growth as planned,” concluded Mr. Chot.
