Turn Capital buys Flash Coffee Thailand
The private equity firm plans to open 100 new coffee shops in two years.
Private equity group Turn Capital has bought the Thailand business of tech-enabled coffee chain Flash Coffee.
Launched in 2020, Flash Coffee serves high-quality coffee in over 200 stores across the region, including locations in Indonesia, Thailand, Hong Kong and South Korea.
No details of the deal were revealed but according to Turn Capital, it plans to leverage Flash Coffee’s brand to expand its presence across Thailand, eyeing to open 100 new cafes in the next two years.
The news comes after Flash Coffee announced that it has shut down all of its operations in Singapore.