Golden Gate announced that, approximately two months after postponing its IPO, it had begun operating its own factory in Phu Tho Province, with total investment exceeding VND 600 billion. It also outlined plans to build an integrated supply chain from raw materials to finished products by coordinating operations with a separate factory in Hanoi.
Following the cancellation of its IPO status and the incomplete registration of its shares for trading, Golden Gate indicated its intention to make a fresh start in the capital markets after an interval of approximately two months. Before this, it disclosed an investment of more than VND 600 billion in the newly built Golden Gate Foods Tien Tien factory in Phu Tho Province. The factory occupies a 4-hectare site and is designed to supply raw materials to approximately 2,000 restaurants at full capacity. Its processing lines cover meat, vegetables, prepared foods and sauces, while dedicated daily production lines will also produce dumplings, fresh noodles and pizzas.
The group also explained on the same day that it had opened its first factory, in TatTat, Hanoi, in February 2024. The site covers more than 6,500 square meters and construction cost approximately VND 300 billion. By coordinating the two factories, old and new, the group outlined a policy of establishing an integrated supply chain covering preprocessing, processing and distribution.
Golden Gate currently operates approximately 600 restaurants under more than 35 brands. It has announced plans to expand its restaurant network to 2,000 locations by 2030 and target a market capitalization of more than $10 billion. The factory's scale is reportedly capable of supporting a fourfold expansion of current operations, and the group also explained that construction has so far been completed on only half of the site.
Through this initiative, the group is said to be seeking to establish an integrated system covering everything from raw-material procurement to the distribution and refrigerated storage of finished products, while targeting growth in the markets for everyday consumer goods and ready-to-eat processed foods. A local representative of the U.S. Department of Agriculture also reportedly praised the initiative for strengthening the food-processing sector's ability to serve domestic and overseas markets.
The operation of the two-factory structure also suggested potential expansion into areas beyond the group's existing system.