JAPAN: Suntory to buy 50% stake in Thailand's Tipco
Suntory has lined up the purchase of a stake in Thai soft drinks company Tipco F&B.
The Japanese company yesterday (6 September) signed a deal with Tipco's parent company, Tipco Foods, clearing the way for it to buy 30m shares, equating to a 50% share, in the Thai firm. The purchase will cost Suntory in the region of THB999m (US$30.6m), Tipco said.
Suntory will subsequently look to sell soft drinks not only in Thailand, but across South East Asia. The two companies will sell their fruit juice brands under the Tipco name, and their functional and tea ranges under the Suntory name in the region.
"It was resolved that there would be cooperation and growth opportunities in using the beverage plant facility in Amphur Wang Noi, Pranakorn Sriayuthaya Province, and therefore, the transaction was approved," Tipco's board said.
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