CPF invests 334.7 million baht to acquire shares of drinking water company BREW

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Summary · why it matters

Charoen Pokphand Foods Public Company Limited (CPF) announced the expansion of its beverage business by investing in Brew Factory Company Limited (BREW) for 334.7 million baht, representing a 51% stake. Its subsidiary, CPF Food and Beverage, will purchase shares from existing shareholders for 43.60% at a value of 235.3 million baht, and will also subscribe to newly issued shares worth 99.4 million baht. BREW was established to take over the bottled drinking water and mineral water production business from North East Water (Thailand), which has ceased operations. It operates a factory in Surin Province with a production capacity of 295 million liters per year, and its main revenue comes from contract manufacturing and distribution of drinking water under the brand "Sabai Drinking Water." In 2025, North East Water reported revenue of 1,119.9 million baht and net profit of 68.7 million baht, while BREW, in the first five months, had revenue of 210 million baht and net profit of 15 million baht. This investment builds on the acquisition of a beverage business in Vietnam in August and the launch of the health drink INNOWENESS. Analysts at Finansia Syrus Securities view that this deal could generate annual profits of 40-50 million baht for CPF, representing only 0.2% of its annual profit, and is not yet significant to its performance.

Impact on assets 1

Consumer Staples▲ · 1 stocks

Off-coverage companies 2

Brew Factory Co., Ltd.Private▲ Positive
Capitalrelevance

BREW receives 334.7 million baht investment from CPF for a 51% stake, with new shares subscribed.

ซีพีเอฟ ฟู้ด แอนด์ เบฟเวอเรจPrivate▲ Positive
Capitalrelevance

CPF Food and Beverage subsidiary will purchase BREW shares and subscribe to newly issued shares as part of the deal.

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