THAILAND: Thai Beverage in talks to buy rival - report
Thai Beverage, the maker of Chang beer and Mekhong whisky, is reportedly in talks to buy a local rival distiller.
According to Dow Jones on Friday (15 September), the company said that it was in negotiations with the Wrangyer group of companies which makes the White Tiger brand of white spirits.
Thai Beverage listed in Singapore in May after raising S$1.37bn.
In August, Thai Beverage reported a 5% fall in first-half profits due to rising expenses and warned of lower sales in the third quarter.
The company posted net profit of THB5.1bn (US$136.7m), down from THB5.4bn a year earlier. Revenues rose 2% to THB46.7bn.
Thai Beverage warned of weak demand for beer during the rest of the year.
Economic growth and rising personal incomes in the Asia Pacific region may make it an exciting growth area for international brands but the potential for international spirits varies considerably from...
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Thai Beverage, the maker of Chang beer, has seen first-half profits fall 5% due to rising expenses and has warned of lower sales in the third quarter....
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