Sector News

Thai Beverage in $1bn deal for Myanmar Distillery Company

October 16, 2017
Food & Drink

Thai Beverage has bought a 75% stake in Myanmar Distillery Company (MDC), the maker of Grand Royal whisky, for $1 billion.

Texan private equity firm TPG sold its 50% stake to ThaiBev for a reported $494.4 million. The deal also includes MDC’s supply chain business.

MDC is Myanmar’s largest spirits company, and along with Grand Royal it also makes a range of other whiskies and gins at its sites in Mandalay and Yangon.

The move sees ThaiBev, which already controls 90% of the drinks market in Thailand, gain access to Myanmar’s growing spirits market. Its brands include Chang Beer and SangSom Rum.

In the first nine months of its fiscal year, until June 2017, ThaiBev’s sales dropped 6% year-on-year to $4.3 billion, as a result of slow economic growth and the observance of a national mourning period in Thailand.

TPG partner Ganen Sarvananthan said: “The investment from Thai Beverage, one of Asia’s leading spirits groups, is a testament to MDC’s extensive platform and strong management team. We wish them continued success as they secure further opportunities with their new partners.”

The deal follows on from ThaiBev’s 2013 acquisition of Singapore beverage producer Fraser & Neave for $11.2 billion.

Source: FoodBev.com

comments closed

Related News

June 24, 2022

Carlsberg announces resignation of CFO Heine Dalsgaard

Food & Drink

Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.

June 24, 2022

Kellogg to split into three companies, focus on snacks

Food & Drink

Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.

June 24, 2022

Mondelēz to buy energy bar company Clif Bar for $2.9bn

Food & Drink

The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.