In the News: 2010
Lombard Books Gain Exiting Thai Food Business
San Francisco, CA - June 14, 2010
Lombard Investments announced today that it has sold its stake in S&P Syndicate, the world’s largest Thai restaurant and bakery chain. Lombard invested in S&P through its Thailand Equity Fund and realized a 2.5x return. During Lombard’s holding period, S&P doubled its revenue from US$80 million in 2005 to US$150 million in 2009.
Pote Videt, Lombard Managing Director, said: “We are proud to have worked with one of the leading names in the Thai and global food service industry. Moreover, we are confident that this talented and highly respected organization will continue to prosper and expand successfully over the coming years.”
Led by Chairwoman Patara Sila-On, an internationally honored entrepreneur, S&P is one of Thailand’s best-known restaurant and bakery chains. Established almost 40 years ago, the Company is widely recognized for its cordial service and high-quality food. S&P owns and manages more than 100 restaurants in Thailand, Singapore, the Philippines, China, Taiwan, Austria, Switzerland and the U.K. under the brands “S&P”, “Vanilla”, “Patara”, “Patio”, “Pizza Patio”, “Thai”, “Siam Kitchen” and “Bangkok Jam”, and operates 200 bakery outlets in Thailand. Zagat Survey has rated S&P’s Patara restaurants among the top Thai eateries in London, and Harden’s London Restaurant Guide named Patara the number one Thai restaurant in both 2005 and 2006.