Thailand’s MK Group buys into seafood restaurant chain

Thailand’s MK Restaurant Group will purchase a 65 per cent shareholding in the Lam Charoen Seafood chain.

The 40-year-old restaurant brand, which has 26 branches across Thailand, will sell for THB2.06 billion (US$67.13 million), according to an announcement posted to the Thai stock exchange last Friday.

The acquisition, which will most likely close by December, will take place via MK Restaurant Group subsidiary Catapult, funded by working capital.

MK Restaurant Group currently operates more than 400 locations under several brand names including MK, Yayoi, Miyazaki, Hakata, Bizzy Box, Le Petit and MK Harvest.