A Coffee World outlet at a department store in Bangkok. PTG Energy Plc (PTG), a SET-listed oil retailer, has acquired a majority stake in GFA Corporation Ltd, the operator of Coffee World, in a bid to strengthen its retail and non-oil business. "This move will help enhance PTG's non-oil business to increase its food selling channels via those branches located in places with strong potential," he added. Mr Pitak said the move also matched the company's strategy of expanding its business in food and beverages at home and overseas, which is part of its non-oil business. Thai retail oil demand has seen double-digit growth over the past few years, thanks partly to massive sales campaigns from major oil retailers, including mileage cards and lucky draws.

Source: Bangkok Post July 21, 2017 00:00 UTC