THAILAND: ThaiBev acquires UPC and SPM
Thai drinks group Thai Beverage (ThaiBev) has announced that its subsidiary Sura Piset is to acquire controlling interests in the spirits producer United Products Company (UPC) and the soft drinks company SPM Foods and Beverages.
Sura Piset will acquire an 80.13% interest in UPC for a total cash consideration of THB280.45m (US$8.86m). The company said that the remaining 19.87% of UPC would be held by persons unrelated to ThaiBev.
Located in Nakhon Pathom Province, UPC produces the white spirits brands, White Bear and Mungkorn Taejean, and Noble Lords and Tumbler whiskies, while also undertaking contract production.
Sura Piset is also to acquire an 83.20% participation in SPM, a soft drinks producer also located in Nakhon Pathom Province, for a total consideration of THB83,200.
SPM produces bottled water, sports drinks, fruit juices and sauces. Its primary brands are Fruitnette Jelly Drink and SPM Juice. It is also the sole distributor for UPC's spirits brands.
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