Vietnam’s largest brewer, Sabeco, will aim to grow its share of the home market from around 40% to 50% on the strength of new owner Thai Beverage‘s retail network, executives from the Thai company said Friday.

Saigon Beer Alcohol Beverage Corp. held its first corporate meeting here following the $4.8 billion acquisition by its Thai rival, known for Chang beer, in December. Executives at the Thai group addressed Sabeco employees for the first time as the majority shareholder.

ThaiBev is the flagship business of TCC Group, led by Charoen Sirivadhanabhakdi, the self-made billionaire widely regarded as Thailand’s king of mergers and acquisitions.

Koh Poh Tiong, chairman of board executive committee of Singapore-based Fraser and Neave, another beverage maker under TCC Group, told the gathering that Sabeco products will be delivered all across Vietnam, leveraging the Thai group’s existing retail network of supermarkets and convenience stores.

Koh also said the group’s backing will help Sabeco expand beyond beer into such markets as soft drinks and spirits.

He also stated his ambition to tap regional markets such as Thailand and Singapore on the back of the group’s hotel network.

At the meeting in Ho Chi Minh City, a source from Sabeco told the Nikkei Asian Review that the company will hold its annual general meeting within the next four months to appoint new board members.

As ThaiBev now has more than 53% ownership, TCC Group intends to raise its number of board members from four to around 10. New management will be decided.

Sabeco Chairman Vo Thanh Ha set out the brewer’s targets for 2018. The company aims to lift its domestic market share to 42% and boost output to 1.84 billion liters, up from 1.78 billion liters in 2017. It targets revenue of 39.3 trillion dong ($1.73 billion) and net profit of 4.9…

Source link

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Vietnam Increases weekly Overtime Hours quota to 60 hours

Vietnam’s National Assembly passed a Resolution on March 23 to increase overtime working hours from the current 40 hours to 60 hours a month. However, the total number of overtime working hours cannot exceed 300 hours annually.

Vietnam’s Economy to Benefit Most from RCEP: World Bank

A recent report from the World Bank offers a thorough analysis of…

Vietnam’s Blue Economy Potential and Opportunities for Investors

The sea and coastal areas of Vietnam account for approximately 47-48 percent of the country’s GDP. Vietnam Briefing highlights some distinct characteristics of the blue economy as well as opportunities for investors.