News | Deal Announcements

DFDL advises Devyani International on the Acquisition of KFC Franchisee in Thailand

DFDL Thailand was the lead adviser to Devyani International Limited (DIL), an Indian publicly-listed company and the largest franchisee for Yum Brands in India, in its acquisition of Restaurants Development Co from Singapore-based Private Equity fund AIGF Advisors, in a deal estimated to be worth USD 128.9 million.

The strategic deal was executed through DIL’s Dubai-based subsidiary, Devyani International DMCC. Restaurants Development Co, the target of the acquisition, is one of the three KFC franchisees in Thailand, running 274 KFC restaurants and employing a workforce of over 4,500 individuals. The agreement was signed in December 2023 and will add to the 570 KFC outlets already operated by DIL in India, Nepal and Nigeria.

This cross-border transaction presented a unique challenge as it involved navigating the legal frameworks of Thailand, India, Singapore, and Dubai. The successful execution of the deal reflects the expertise and diligence of the DFDL team.

DFDL Partners Vinay Ahuja and Nipaporn Supha-utchaichan, along with legal advisors Benjawan Butkrut and Chanapha Chamnanlertkit, played pivotal roles in leading and ensuring the success of this complex transaction.