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CHINA: ThaiBev buys Chinese spirits firm

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Thai Beverage has bought itself a foothold in China's alcoholic drinks sector after agreeing to acquire Yunnan Yulinquan Liquor Co for RMB69m (US$10m).

ThaiBev will pursue the deal through its newly incorporated, Hong Kong-based subsidiary, International Beverage Holdings, it said late last week.

Yunnan Yulinquan Liquor Co (YLQ), owned by Hong Kong-based Best Spirits China, specialises in white spirits and has a distillery in the southern town of Yuxi in Yunnan province.

ThaiBev, which makes Chang beer, said that the takeover offers several benefits.

"It would provide a gateway into the alcoholic beverage business in China at a strategic location with high growth potential, an ownership in one of the oldsest and widely recognized spirit brands, as well as a platform for expansion into other businesses in the future by leveraging on YLQ establishments and human resources," said the Thailand-based firm.

Payment on the deal will be made in cash and is expected to complete by 31 August this year, it added.

YLQ has a production capacity of 6,500 tonnes per year of spirits, ThaiBev said.


Sectors: Spirits

Companies: Thai Beverage

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