Vietnam’s popular restaurant chain operator Golden Gate acquires 99.98% stake in The Coffee House
Vietnam’s popular restaurant chain operator Golden Gate acquires 99.98% stake in The Coffee House
Golden Gate, which operates over 40 restaurant chains in Vietnam, including popular brands like GoGi House, Manwah, and Kichi Kichi, has temporarily spent VND270 billion (US$10.5 million) acquiring a 99.98-percent stake in the operator of The Coffee House brand.
A The Coffee House employee interacts with customers at a store. Photo: The Coffee House |
This information was listed in Golden Gate Group JSC’s audited consolidated financial report for 2024, which has recently been published.
Golden Gate announced that it completed the acquisition on January 8, securing a majority stake in VN Coffee Tea Service Trading Corporation, which operates The Coffee House brand.
The total temporary cost of the deal was VND270 billion.
Following the transaction, the company that operates The Coffee House became a subsidiary of Golden Gate.
The acquisition was first reported by DealStreetAsia in February, although both parties had not issued any official statements at that time.
In December 2024, Golden Gate’s board of directors announced the approval to purchase a 99.98-percent stake in a food and beverage company, without disclosing the name of the brand involved.
Founded in 2005, Golden Gate now operates an ecosystem with over 40 F&B brands, including popular chains like GoGi House, Manwah, Kichi Kichi, and Yu Tang.
In late 2024, an extraordinary general meeting of shareholders at Golden Gate decided to cancel its plan to distribute a 53-percent cash dividend for 2023, redirecting the funds toward large-scale investments and expansion projects for 2024-25.
The Coffee House, established in 2014 by Nguyen Hai Ninh and partners, is currently owned by VN Coffee Tea Service Trading Corporation, with Ngo Nguyen Kha, founder of Vietnamese cell phone brand Mobiistar, serving as its legal representative.
The F&B sector in Vietnam has seen significant changes recently.
While Katinat, one of its competitors, has been expanding in prime locations, The Coffee House has closed several stores in Da Nang and Can Tho Cities.
According to its website, The Coffee House now operates 93 locations, mainly in Ho Chi Minh City.
The Coffee House’s revenue has fluctuated in recent years.
According to research and data solution provider Vietdata, the chain’s revenue rose 67 percent in 2022 but dropped 11 percent in 2023 to VND700 billion ($27.3 million), further extending its losing streak.
- 09:11 02/04/2025
