Thailand’s PTT Oil and Retail Business (PTT OR) has ring-fenced approximately THB 7.4bn ($220m) to scale its Café Amazon network in Thailand
Speaking at an Opportunity Day event organised by the Stock Exchange of Thailand on 3 March, PTT OR Investor Relations Manager Pitirat Rattanachote said approximately 40% of the oil giant’s total THB 19bn ($560m) investment budget this year will focus on growing its domestic coffee shop business.
Bangkok-based PTT OR currently operates 4,430 Café Amazon outlets across Thailand, 53% of which are in PTT OR-owned petrol stations. The budget will also facilitate outlet renovations and potential M&A activity, Rattanachote added.
Thailand’s largest coffee chain also operates 420 stores across 10 international markets in East Asia and the Middle East. Approximately THB 2.8bn ($84.5m) of PTT OR’s total investment budget has been allocated to expanding its petrol station network and Café Amazon footprint outside of Thailand, with a particular focus on Cambodia due to its ‘high growth potential’
Full story Latest global coffee and hospitality industry news - World Coffee Portal
Share this:
