Yum! Brands announced that it is planning on doubling its KFC and Pizza Hut footprints in Thailand to 1,000 by 2020.
According to the Bangkok Post, the company will spend about 27 billion baht (about $852 million U.S.) toward the effort.
Yum! Brands' CEO David Novak said the company is eyeing the Thailand market because it is becoming more urbanized. Currently, the country is about 35 percent urbanized (compared to 80 percent in the U.S.). It is expected to reach 52 percent by 2020.
The plans were announced during Novak's recent trip to Thailand to mark the 500th restaurant opening there.
Yum! has had a presence in Thailand for 28 years. The country is one of the company's top 10 global markets. Subsidiary Yum! Restaurants International (Thailand) operates 430 KFC units and 70 Pizza Hut units.
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