Thai President Foods Public Company Limited (SET: TFMAMA) disclosed information to the Stock Exchange of Thailand regarding its investment in Chagee (Thailand) Co., Ltd.
The company states that its subsidiary, Thai President Beverage Co., Ltd.’s, has acquired common shares in Chagee (Thailand) Co., Ltd., a company involved in food product manufacturing. This strategic investment aims for long-term benefits and involves both purchasing existing shares and subscribing to new ones, resulting in Thai President Beverage Co., Ltd. holding a 51% stake in Chagee (Thailand) Co., Ltd. with a total investment of 142,417,500 Baht, the source of funds from the company’s working capital.
Cha Explorer Co., Ltd. will hold the remaining 49% shareholding stake in Chagee (Thailand) Co., Ltd.
The shareholders in Thai President Beverage are:
- TFMAMA with a 55% stake.
- Mr. Komsan Saelee, founder and CEO of Flash Express, with a 25% stake.
- Mr. Chanond Ruangkritya, CEO and largest shareholder of Ananda Development (SET: ANAN), with a 20% stake.
CHAGEE (NASDAQ: CHA) is a premium tea brand from China that has opened branches in Thailand, serving healthy and delicious freshly-made tea drinks. Founded in 2017, Chagee has transformed traditional tea culture into a modern lifestyle experience, leveraging cutting-edge technology and innovative branding. With its commitment to quality, innovation, and cultural connection, Chagee continues to reshape the global tea industry.
