Vietnamese restaurant group Golden Gate has acquired a 99.98% stake in The Espresso Home for VND270bn ($10.5m) from the retail group Seedcom.
The acquisition value is a fraction of The Espresso Home’s earlier $50m valuation, evidencing the difficulties confronted by the model because the Covid-19 pandemic.
The acquisition was initially reported by DealStreetAsia in February 2025, though neither celebration issued an official assertion at the moment.
As soon as a quickly increasing espresso chain with 150 shops, The Espresso Home has seen a decline in each income and retailer depend and now operates 93 websites, primarily in Ho Chi Minh Metropolis and Hanoi.
Within the latter half of 2024, all its foodservice shops within the Can Tho and Da Nang areas have been closed as a tactical choice aimed toward cost-cutting and boosting gross sales at websites with larger buyer visitors.
The transfer was supposed to boost monetary effectivity and focus on penetrating the market extra successfully.
However regardless of a surge in web income in 2022, reaching VND781bn ($30.5m), The Espresso Home skilled an 11% income drop the next yr.
The model’s monetary struggles have been ongoing, with no earnings recorded between 2019 and 2023 and Seedcom incurring losses of VND1.17tn ($49.82m), resulting in retailer closures.
Golden Gate, established in 2005, is a number one drive in Vietnam’s meals and beverage business with 500 eating places throughout 22 manufacturers, together with Gogi Home and Kichi-Kichi.
The group’s income grew 5.5% to VND 6.63tn ($258.7m) by the tip of 2024, though web revenue decreased 28% to VND 100bn ($3.9m).
“Golden Gate acquires 99.98% stake in The Espresso Home” was initially created and printed by Verdict Meals Service, a GlobalData owned model.
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