Bangkok, Thailand – Turn Capital has acquired the Thailand operations of the tech-enabled coffee chain, Flash Coffee, with the aim of supporting further expansion within the country.
Flash Coffee, established in 2020, operates over 200 stores across various regions, including Indonesia, Thailand, Hong Kong, and South Korea.
Turn Capital, known for its investments in consumer, technology, media, and telecom companies in Asia, has a track record of fostering growth and profitability. The firm typically obtains controlling stakes, allowing its team of experienced operators and investors to actively engage in each investment.
Utilizing Flash Coffee’s brand, product offerings, and technology, Turn Capital plans to extend the chain’s footprint in Thailand. The strategy involves opening more than 100 new stores within the next two years, aiming to reach a total of over 200 locations in the country.
Shang Koo, partner of Turn Capital, said, “Flash Coffee is an exciting tech-enabled coffee brand and has been a source of delight for many coffee lovers across the region. We are impressed by what the team has built in Thailand over the past years and are excited to play a major role in the company’s next growth phase.”
He added, “Turn Capital’s focus and expertise is on the consumers, building digital-enabled and loyal consumer ecosystems by creating exciting products and services. We are excited to partner with Flash’s management team to bring the tech-driven Flash Coffee brand to profitability, and to work with the young and energetic Thailand team to grow the company over the next few years.”
Meanwhile, Vincent Hosman, managing director at Flash Coffee Thailand, commented, “Turn Capital goes beyond providing funds; it involves harnessing operational expertise. Excited to spearhead our expansion endeavours, fortify our team, diversify our drinks and food offerings, and continue opening new stores. We’re set to paint the streets of Thailand yellow, symbolising the spread of our commitment to amazing coffee at unbeatable prices. The future looks bright for Flash Coffee Thailand.”
