Viet Thai International (VTI) has acquired the Vietnam operations of the Korean franchised bakery chain Paris Baguette, marking a strategic move to expand its footprint in Vietnam’s fast-growing food and beverage (F&B) sector.

Paris Baguette entered the Vietnamese market in 2012 under the legal entity Paris Baguette Vietnam Co. Over more than a decade, the brand has built a network of nine stores, primarily located in Hanoi and Ho Chi Minh City, offering a bakery experience blended with cafe spaces.

VTI said the acquisition aligns with its mission of “bringing the best of the world to Vietnam and taking the best of Vietnam to the world.”

The group’s expanding portfolio includes a stake in Philippine-owned Highlands Coffee, Pho 24, and The Coffee Bean & Tea Leaf. The company also operates the Alid footwear and accessories business in Vietnam

Earlier this year, Highlands Coffee was reportedly preparing to revive its long-delayed IPO, nearly a decade after the plan was first announced.

Founder and CEO David Thai also confirmed the company was in active talks with bankers and is evaluating potential listings in Singapore, Hong Kong, Abu Dhabi, and the US.