The South Eastern alcohol company Thai Beverage Public Company Limited (ThaiBev) announced their plans for acquiring Bangkok soft drink company Serm Suk for $153 million. This deal includes PepsiCo’s agreement to sell 41.5 % of Serm Suk stake over to ThaiBev.
Through the acquisition of Serm Suk, ThaiBev hopes to expand its non-alcoholic product portfolio internationally.
Serm Suk, which has been around since 1952, exclusively distributes Pepsi brands and will continue to through November of 2012.
ThaiBev, established in 2003, is one of Thailand’s largest businesses of beers and spirits. It consists of four core businesses of products: beer, spirits, non-alcoholic beverages, and food.