VinaCapital Seals UK Franchise Deal to Roll Out 30 Restaurants

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Date AddedSeptember 25, 2009 10:52:50 AM

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VinaCapital Vietnam Opportunity Fund (AIM:VOF), the AIM listed investment vehicle, announced today that its investee company Pho 24 - a popular Asian fast-food restaurant - has signed a franchise deal to open 30 restaurants in the UK.
Pho 24, Vietnam's most popular noodle brand, operates throughout Asia with restaurants in Singapore, Cambodia, South Korea, Indonesia, the Philippines and Australia. The franchise deal agreed with UK partner Leisure Space Group aims to open 30 restaurants within the next 15 years. The first of these will open on 18 October 2009 at a commercial centre in London.
Pho 24 currently has 59 restaurants in Vietnam and 11 abroad, 'Pho' is Vietnam's most-treasured national dish and is similar to a beef noodle soup.
VinaCapital Group is an asset management and real estate consulting firm with experience in the Vietnamese market, VOF own a 32.5% equity stake in Pho 24.
In his statement Andy Ho, Managing Director of VOF's Investment Manager said; "We are very pleased with the overseas expansion of this investee company, and are certain that Pho 24 will prove as popular in Europe as it has in Asia... I look forward to my first bowl of pho in London"