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SBF concludes agreement to acquire shares in International Refreshment
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Monday, 06 November, 2017, 08 : 00 AM [IST]
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Bangkok
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Suntory Beverage and Food Limited (SBF) has stated that its subsidiary, Suntory Beverage and Food Asia Pte Ltd, concluded a definitive agreement regarding the acquisition of 51 per cent shares in International Refreshment (Thailand) Co, Ltd, a beverage operation of PepsiCo, Inc in Thailand, from Pepsi-Cola (Thai) Trading Co, Ltd, a subsidiary of PepsiCo. This will, henceforth, be known as the acquisition.
Background of the acquisition
Thailand is the one of the largest beverage market in South-east Asia (SEA) and is expected to continue expanding backed by its gross domestic product (GDP) growth.
PepsiCo has a solid business platform in Thailand with its strong brand equity, manufacturing facilities and sales network.
The acquisition will enable SBF to expand its beverage business in Thailand, and further strengthen PepsiCo’s beverage business in the significantly-growing Thailand market.
Through the establishment of the joint venture, SBF and PepsiCo plan to grow its beverage business in Thailand by leveraging each company’s respective strengths - SBF’s expertise in development of products to meet healthier demands, including ready-to-drink tea, and PepsiCo’s strong business platform.
Profile of the subsidiary (subject to change)
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(1)
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Name
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International
Refreshment (Thailand) Co, Ltd (Note 1)
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No
7/229 Moo 6 Soi Pornprapa, Amata City Industrial Estate Tambol
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(2)
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Location
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Mab
Yang Porn, Amphur Pluak Daeng, Rayong Province, Bangkok,
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Thailand
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Directors:
Pierre
Hajj Chahine
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(3)
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Representative
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Somchai
Ketchaikosol
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Phoemsak
Krisoraphong
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(4)
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Business
description
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Manufacturing
of soft drinks in Thailand (Note 2)
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(5)
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Share
capital
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THB
9 billion (Approximately
JPY
30.8 billion)
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(6)
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Date
of establishment
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November
18, 2003
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(7)
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Shareholder
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Pepsi-Cola
(Thai) Trading Co, Ltd (99.99
per cent)
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Capital
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No
items to report
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Relationship
with
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(8)
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Personal
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No
items to report
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SBF
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Business
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No
items to report
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(9)
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Operating
results
and financial
position
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-
(Note 3)
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Note
1:
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The
company name is planned to be changed to Suntory PepsiCo Beverage
(Thailand)
Co,
Ltd.
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Note
2:
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After
the restructuring related to the acquisition
prior to the completion, the company is expected to
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operate
sales of soft drinks in addition to manufacturing.
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Note 3: There is no financial information available for disclosure given the confidentiality under the non-disclosure agreement with PepsiCo.
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