Mudman

What Mudman does

Mudman Public Company Limited is a Thailand-based, publicly listed (BKK:MUD) multi-brand retail food operator headquartered in Bangkok. Founded in 2005, the company functions as a "house of international retail food brands," owning and operating a portfolio that spans retail food shops, coffee shops, bakeries, and snack bars in Thailand, with a workforce of 1,001-5,000 employees.

The company's principal asset base is its brand portfolio and associated retail/café/bakery network, which represents its core operational and revenue-generating surface. The firm's publicly accessible website (mudman.co.th) is currently limited to a verification/loading page and does not disclose product details, pricing, or technology stack in the available sources. One operating brand surfaced in the data, "Mudman Burgers," has been used as the vehicle for international community-event sponsorships, including the eighth edition of the Mudcup football tournament held in Entebbe, Uganda, in partnership with Pottersfield Ministries (host) and Lordsbook (Christian social media livestreaming).

Mudman's business model is that of a multi-brand food retailer: it derives revenue from operating owned and/or franchised food retail outlets across several adjacent verticals (quick-service restaurants, specialty cafés, bakeries, snack bars), serving Thai consumers through physical points of sale. Pricing, unit economics, GTM motion, and revenue mix by brand are not disclosed in the available materials. The 2025 Mudcup initiative functions as a brand-building and community-engagement exercise with a faith-based audience rather than a direct revenue channel.

Name

Mudman

Website

http://www.mudman.co.th

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Mudman is a Thailand-based, publicly listed (BKK:MUD) multi-brand retail food company operating retail food shops, coffee shops, bakeries, and snack bars in Bangkok, serving Thai consumers with a workforce of 1,001-5,000.

Ownership category

akta.pro rank

Product category

Food Service and Retail Restaurants

NAICS

Specialty Food Retailers (4452), Ice Cream and Frozen Dessert Manufacturing (311520)

SIC

Ice Cream & Frozen Desserts (2024)

akta.pro industry

PRIMARYTHAFAGAG

Cupcake Shops

Travel & Hospitality/Foodservice & Beverage (Restaurants, Cafes, Bars)/Dessert, Ice Cream & Specialty Sweets Shops

Keywords

• Retail food brands
• Coffee shop operations
• Bakery retail
• Quick-service restaurants
• Snack bar operations

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales

Marketing channels1 record

Core offering

Mudman is a house of international retail food brands that owns and operates retail food shops, coffee shops, bakeries, and snack bars. The company runs its branded food and beverage outlets directly to consumers across multiple daypart formats, with brands such as Mudman Burgers serving as anchor tenants.

Product overview

No product information available. The source data consists of a news article about a football tournament sponsorship by "Mudman Burgers" and a website loading page that displays only a verification message. No product portfolio, services, or modules are described in the provided sources.

Differentiator

Problem solved

Functional benefit

Products and services

• Retail Food Shops Directly operated retail food outlets selling branded food items to individual consumers for on-premise and off-premise consumption.
• Mudman Burgers Quick-service burger restaurant sub-brand under Mudman, serving burgers and related fast-food items to consumers and operating community-oriented events such as the Mudcup football tournament.
• Coffee Shops Directly operated coffee shops serving hot and cold coffee beverages and complementary food items to consumers.
• Bakeries Directly operated bakery outlets selling baked goods such as bread, pastries, and related products to consumers.
• Snack Bars Directly operated snack bar outlets selling light snacks and beverages to consumers.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Pottersfield MinistriescoreStrategic or Co-development Partner · 6 December 2025Pottersfield Ministries is the host organization of the Mudcup football tournament. Mudman Burgers sponsors this annual Christian community event. The partnership enables large-scale community outreach combining sports, meals, and gospel sharing. This is the eighth edition of the Mudcup.
• LordsbookminorGTM or Marketing Partner · 6 December 2025Lordsbook is a Christian social media platform that provides livestreaming services for Mudcup events. This partnership amplifies Mudman's sponsored events to a global Christian audience through digital broadcasts.

Scale indicators3 records

Recent moves3 records

Expansion highlights3 records

Direct peers

• Minor International: Thai-listed conglomerate operating multiple international QSR and casual-dining brands (Burger King, Dairy Queen, Pizza Hut, The Coffee Club, Swensen's) in Thailand and internationally. Most structurally comparable peer given similar multi-brand franchise operator model in the same geography.
• Yum China Holdings: Operates KFC, Pizza Hut, and Taco Bell in China under a master franchise model. Comparable as a publicly listed, multi-brand international QSR operator in Asia with similar franchise economics and store-level operating leverage.
• Jubilant FoodWorks: India-listed operator of Domino's Pizza, Dunkin', and Popeyes franchises. Highly comparable as a publicly listed multi-brand international QSR franchisee in an emerging Asian market, including direct overlap as a fellow Dunkin' franchisee.
• MK Restaurant Group: Thai-listed restaurant chain operator with a multi-format Thai dining portfolio. Comparable as a domestic Thai food retail operator competing for the same middle-class consumer spending pool.
• S&P Syndicate: Thai-listed bakery, restaurant, and food retail operator with a domestic brand portfolio. Comparable in Thai F&B retail operations and format diversity (bakery, casual dining).
• Starbucks Corporation: Global coffee QSR operator competing directly with Mudman's coffee shop format. Comparable in specialty beverage retail format and consumer demographic overlap.
• Domino's Pizza: Global QSR pizza franchise system. Comparable as a branded QSR operator model that Mudman's snack/food shops compete against in the Thai market.

Broad incumbents

• Restaurant Brands International: Global multi-brand QSR parent (Burger King, Tim Hortons, Popeyes, Firehouse Subs). Comparable as the parent/franchisor model that Mudman's franchise model depends on, and a benchmark for multi-brand QSR economics at scale.
• Yum! Brands: Global multi-brand QSR parent (KFC, Pizza Hut, Taco Bell, Habit Burger). Comparable as a parent/franchisor for the international QSR brands in Mudman's portfolio and as a benchmark for multi-brand QSR valuation.
• Inspire Brands: US multi-brand QSR platform owning Arby's, Buffalo Wild Wings, Sonic, Dunkin', and Baskin-Robbins. Highly relevant as the parent of the Dunkin' and Baskin-Robbins brands Mudman operates in Thailand.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks4 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mudman