Thailand’s CP Axtra is introducing Dairy Queen, Swensen’s, GAGA, Bonchon and The Steak & More across selected Makro and Lotus’s locations through a corporate franchisee model with Minor Food, combining its retail network with the restaurant group’s franchise and operating expertise.
Thailand-based CP Axtra has partnered with Minor Food Group to bring five restaurant brands to selected Makro and Lotus’s locations nationwide, launching a corporate franchisee model aimed at expanding its food and lifestyle offerings.
Announced on October 19, 2026, the partnership will introduce Dairy Queen, Swensen’s, GAGA, Bonchon and The Steak & More across high-potential locations within CP Axtra’s network of more than 2,650 stores. The initiative forms part of the company’s Happy & Healthy Mall strategy, which seeks to develop its retail properties into destinations combining shopping, dining and lifestyle experiences.
Under the agreement, CP Axtra will act as the investor and franchisee, while Minor Food will manage the outlets and oversee operations in accordance with each brand’s standards. The companies have not disclosed the total investment, opening schedule or number of restaurants planned under the rollout.
Benchawan Ongsri, Chief Mall Officer of the Mall & Property Group at CP Axtra, said: “This Corporate Franchisee Model brings together CP AXTRA’s extensive store network, retail space, and customer base with Minor Food’s renowned brand portfolio and food business expertise.”
She added that the partnership aims to create new growth opportunities while strengthening the company’s retail properties as food and lifestyle destinations for customers across generations.
The five brands will broaden the range of food and beverage options available at participating locations. Dairy Queen is known for its ice cream and Blizzard frozen desserts, while Swensen’s specialises in ice cream and desserts. GAGA adds a contemporary beverage concept, Bonchon brings its Korean-style fried chicken offering, and The Steak & More expands the portfolio into steak-focused dining.
Thunyachate Ekvetchavit, Chief Development Officer and Chief Operating Officer of Minor Food Group, said: “It combines Minor Food’s expertise in the food business, restaurant operations, and franchise systems with CP AXTRA’s extensive store network and customer base.”
He added that introducing brands suited to individual locations and customer needs would help create business opportunities and support sustainable, long-term growth for both companies.
The agreement builds on the companies’ existing relationship and establishes a new structure for expanding Minor Food’s brands through CP Axtra’s retail footprint. Rather than requiring the restaurant operator to invest independently in every new outlet, the model allows CP Axtra to fund the locations and take on the franchisee role, with Minor Food responsible for restaurant management and operational standards.
Minor Food operates a network of more than 3,000 restaurants across 25 countries, according to the announcement. Its portfolio includes international and regional restaurant concepts, with franchise and company-operated businesses forming part of its expansion strategy. The group’s experience in brand management and restaurant operations provides the operational framework for the new partnership.
CP Axtra operates Makro’s wholesale business and Lotus’s retail and shopping-centre operations. Established in Thailand in 1988 as Siam Makro, the company expanded its wholesale operations before acquiring Lotus’s in October 2021. It adopted the CP Axtra name in June 2023, reflecting its broader wholesale, retail and property businesses.
The partnership also supports CP Axtra’s plans to increase the role of food and lifestyle businesses within its properties. In September 2026, the company outlined plans to develop and renovate 60 projects across 29 Thai provinces during 2026 and 2027 under its Happy & Healthy Mall strategy.
By adding established restaurant brands to selected Makro and Lotus’s locations, CP Axtra aims to create additional reasons for customers to visit its properties, encourage longer stays and diversify the experiences available beyond conventional shopping.
The rollout will focus on locations considered to have strong potential, with brand selection tailored to each site’s suitability and customer demand. Although the companies have yet to announce individual brand targets or a detailed expansion timetable, the agreement establishes a corporate franchise framework that could support further restaurant development across the retail network.
