BANGKOK, NNA – Japanese hamburger restaurant chain Mos Food Services Inc. has taken on a new local partner to help expand its shops in Thailand from 8 to 45 in five years.
The company said Wednesday that Pitharn Ongkosit, chief executive of printed circuit board maker KCE Electronics Public Co., will privately acquire a 74.3 percent stake in Mos Food Services (Thailand) Co. Mos Food in Japan will retain the remaining 25.7 percent.
Mos Food spokesman in Tokyo, Tadahiro Matsuda, declined to comment on the transaction price.
Pitharn also runs apparel and cosmetic retailer operations, including a Thai unit of The Face Shop, a South Korean skincare manufacturer.
Matsuda said Mos Burger ended its first local partnership because the company had only opened six shops since entering Thailand in 2007.
The Japanese burger chain is still a newcomer to Thailand’s highly competitive fast-food market, compared to bigger rivals.
McDonald’s Thailand opened its first restaurant in 1985, the 35th country for the U.S. chain, expanding nationwide to 250 restaurants by November 2018, according to the company website.
Mos Food Services operates 371 outlets outside Japan, 265 of which are in Taiwan in partnership with Teco Corp., a major Taiwanese electronics maker.