GIFT BOD Approves Acquisition of F&B Businesses to Achieve Exponential Growth

GIFT Hospitality under GIFT Infinite Public Company Limited (SET: GIFT) officially expanded its food & beverage business by acquiring famous restaurants and social gathering places of 14 locations, including ‘BEAM Club’ and ‘BEAMCUBE,’ popular hangout places in city centers; ‘Beer Belly,’ the Thai-fusion restaurant; ‘OKONOMI’ and ‘Yuji Ramen,’ a famous Japanese restaurants from New York; and ‘Mom’s Touch,’ a leading Korean burger and fried chicken restaurant. To acquire all the businesses, GIFT has paid a total of 235 million baht for the restaurants and 185 million baht for rental spaces where the restaurants are located. With the acquisition of restaurants and hangout places which was in line with today’s trends and interests of the new generation of consumers, as well as their growth potential, the new addition to the portfolio would diversify the company’s revenue. In the second half of 2024, it is confident to generate 200 million baht in revenue, while expecting to grow tremendously in 2025 from the full-year revenue recognition and business expansion according to its plan. Additionally, GIFT also recognized its revenue from the sale of its owned land, worth 83 million baht.

Mr. Surachai Chetchotisak, Chief Executive Officer, Gift Infinite Public Company Limited, said: “According to the recently announced business plan, GIFT moves forward and expands into the food & beverage sector through our first acquisition of 14 restaurants, namely Mom’s Touch, BEAMCUBE, BEAM Club, Beer Belly, OKONOMI, and Yuji Ramen. BEAM and Beer Belly are popular social gathering places at night among both Thais and foreigners; OKONOMI and Yuji Ramen are Japanese restaurants by famous chefs from New York City; Mom’s Touch is a South Korean franchise restaurant, selling Korean fried chicken and burgers. All these restaurants offer outstanding food, beverage, and services, run by a team of experts, and are ready to grow immediately.”

Mr. Chot Chetchotisak, Deputy Chief Executive Officer, GIFT Infinite Public Company Limited, added: “The acquisition targets are restaurants and nightlife establishments that are unique within themselves, while offering quality and diverse food. They are all located in prime locations that are highly accessible to consumers. After the acquisition is complete, GIFT will expand our businesses to 20-30 branches for restaurants and 3-5 branches for hangout places to serve our target customers who love entertainment and enjoy mingling at restaurants and social gathering places, as well as foreign tourists. They are all part of the high-spending and growing segment. These efforts are expected to contribute 200 million baht in revenue to GIFT Hospitality within the second half of 2024. The revenue will also leapfrog in 2025 for our full-year revenue recognition and business expansion according to our plan. In addition to the expansion into the food & beverage business, GIFT is also planning to expand into the hospitality, wellness & beauty sector. There should be some significant movements within the third quarter of this year.”

Recently, GIFT also sold 13,308-square-meter land in Bang Phli, Samut Prakan, worth 83 million baht.