Evolution Capital PCL announces Incorporation of Evolution Foods (Thailand) Co., Ltd. and Investment by Dr. Wuttisak Limphanit in Evolution’s Food Platform.

Friday 24 April 2015 13:30
Evolution Capital PCL (“Evolution”) has announced an investment amounting to THB150 million by Dr.Wuttisak Limphanit in a recently incorporated subsidiary, Evolution Foods (Thailand) Co., Ltd. Evolution Foods, through its wholly-owned subsidiaries Fenix Pizza Co., Ltd., Kyohcon Co., Ltd., and Fico Coffee Co., Ltd. is the exclusive franchisee in Thailand for Domino’s Pizza, Kyochon Chicken, and The Coffee Bean & Tea Leaf. Evolution Foods also owns a 65% stake in a joint venture company in Cambodia developing Domino’s Pizza franchise in that market.

Mr. Krit Srichawla, Chairman of Evolution Capital PCL, said that he was delighted with the investment made by Dr. Wuttisak in the company and looked forward to welcoming him onto the Board of Evolution Foods to contribute to the development of this rapidly-growing company.

Mr. Sanjay Singh, Chief Executive Officer of Evolution Capital PCL, added that Evolution Foods had scaled up significantly in a relatively short period of time through the harnessing of experienced management resources, deploying capital effectively, and working with franchisors to ensure that quality and brand standards are met. Mr. Singh further opined that “the investment made by Dr. Wuttisak is a huge vote of confidence in the management and business plan of Evolution Foods. This investment will further accelerate our expansion plans not only in Thailand, but also in key regional markets.”

Dr. Wuttisak Limphanit commented “I participated in this unique opportunity as I have great faith in the broad consumer sector which Evolution Foods operates in. Not only is this company rolling out very rapidly in Thailand across three globally-respected brands, but also there is now significant momentum behind a regional expansion.”

Evolution Foods currently operates 20 Domino’s Pizza stores in Thailand and 2 stores in Cambodia, and plans to roll out an additional 20 stores by the end of 2015 in both markets. The company also operates 18 The Coffee Bean & Tea Leaf outlets and 5 Kyochon Chicken stores in Thailand. By the end of 2015, the cumulative total of operating stores under three brands is targeted to be 75.