Thailand mulls tax exemptions on drinks with higher fruit and veg content

ASIA – Thailand is considering excise tax exemption for drinks with a higher fruit and vegetable content to encourage healthy dieting and consumption in the country. The Thai Excise Department has also unveiled plans to raise the required content of fruits and vegetables in juices to a minimum of 20% as a way to increase the income of local farmers. Motivated by the need to curb rising obesity cases, Thailand established a sugar-sweetened beverage tax on juices to discourage manufacturers from making sugar-loaded products. Fruits and vegetable juices are also…

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Chinese dairy group Yili buys Thai ice cream maker Chomthana

ASIA – Yili Group, state-owned company of dairy industry in China has acquired Chomthana, Thailand’s leading ice cream and frozen foods manufacturer to expand its operations in Southeast Asia. Chomthana, which has more than 37 years of experience and exports its products to 13 foreign markets, sells a range of ice cream products, ice lollies and wafer cones. It is a mass market producer of quality ice cream & cones under ‘Cremo’ and other private labels as well as frozen Chinese salapao buns and other dimsum products. “Through many contacts…

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Cargill to invest US$70m in Thailand’s seafood and poultry in 2 years

ASIA – The American grain and agricultural trading corporation, Cargill has announced that it is committed to invest more than US$70 million in poultry and seafood in Thailand over the next two years. The investment aims to meet global demand and increasing consumption of the products while addressing the company’s innovation strategy. Cargill is looking to leverage in technology implementation in the poultry supply chain with modern initiatives to address both partner and consumer needs. With the funding, the company will invest in a Technology Application Center for research and…

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ThaiBev bets big on Vietnam, buys US$4.8 b stake in largest brewery

VIETNAM – Thai Beverage Plc is doubling down on Vietnam after it partnered with a local company to buy a $4.8 billion stake in the country’s largest brewer, a key step for the company controlled by billionaire Charoen Sirivadhanabhakdi as it seeks to dominate Southeast Asia’s beverage market. Vietnam Beverage, the local unit which ThaiBev holds a stake in, said it won the bidding for an almost 54 percent holding in Saigon Beer Alcohol Beverage Corp. ThaiBev emerged as the only major investor to bid in what had been billed as a hotly…

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Frutarom buys stake in Thai flavours company

THAILAND – Flavours and colours company Frutarom has acquired 60% of the shares of Thai company The Mighty Co. Ltd for approximately US$12 million. This is the eighth acquisition in 2017 and 27th acquisition since 2015 of the Israeli’s flavors company. In the framework of the of the deal, Frutarom will initially acquire 49% of Mighty and, subject to a number of conditions precedent and regulatory approvals in Thailand, will raise its holdings to 60%. The deal includes a mechanism for future consideration subject to Mighty’s future performance and an…

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Thai Beverage buys stake in Myanmar Distillery Company

MYANMAR – Thai Beverage, the largest and one of Southeast Asia’s largest beverage companies, with distilleries in Thailand, has bought a 75% stake in Myanmar Distillery Company (MDC), the maker of Grand Royal whisky, for US$1 billion. According to Reuters, the Texan private equity firm, TPG had sold its 50% stake to ThaiBev for a reported value of US$494.4 million, a deal which included MDC’s supply chain business, in December 2015. As the Myanmar’s largest spirits company, MDC makes a range of other whiskies and gins at its sites in…

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