Swire Coca-Cola has taken significant strides in expanding its South East Asia footprint beyond Vietnam and Cambodia. In February, Swire Coca-Cola conditionally agreed to acquire a majority stake in ThaiNamthip Corporation Ltd’s bottling businesses in Thailand and Laos. This strategic move underscores the immense growth potential we see in Thailand and will add significant scale to our portfolio of businesses in South East Asia, which is one of the most rapidly growing beverages markets.
Thailand, as the second-largest economy in South East Asia, presents abundant opportunities, especially in the non-alcoholic ready to drink market. ThaiNamthip, the market leader, operates five facilities in Thailand and one in Laos, with over 200 SKUs and a reach of more than 430,000 outlets across Thailand.
This expansion brought about the collaboration among The Coca-Cola Company, Swire Coca-Cola and ThaiNamthip, to form a strategic bottling alliance in north ASEAN. The alliance will leverage the local knowledge and understanding in Thailand and Laos of ThaiNamthip and the global perspective of Swire Coca-Cola. Through the combination of their capabilities, scale, and capacity to invest locally, the alliance will seek to achieve their substantial long-term growth ambitions.
Coca-Cola ASEAN and South Pacific President Claudia Lorenzo said, "Coca-Cola is celebrating 75 years in Thailand this year. We are delighted that in this anniversary year two exceptional bottling partners are joining forces in our key north ASEAN markets. Between them they bring the local knowledge and global insights that will accelerate all our markets forward into the future."
Karen So, Managing Director of Swire Coca-Cola, said, “We are thrilled to further expand our presence in South East Asia to Thailand and Laos. This investment highlights our robust partnership with The Coca-Cola Company and the impressive strength and capabilities of our local partner, ThaiNamthip. Together, we are poised to bring unparalleled expertise, capabilities, and ambition to accelerate growth throughout the north ASEAN region. Our expansion also aligns with Swire Pacific’s strategic, long-term plan of continuous investment in Hong Kong, the Chinese Mainland and South East Asia.”
Ignace Corthouts, President of ThaiNamthip Corporation, said, "Today marks an important milestone for ThaiNamthip, as we embark on our next chapter of growth. The bottling alliance between ThaiNamthip and Swire Coca-Cola - one of the top five bottlers in the world - will combine the strengths and capabilities of both companies, as well as our unwavering commitment to customers and consumers, to capture untapped opportunities in the north ASEAN region."
