Sermsuk approves deal with InterBev to expand ‘est’ brand into international markets

Tuesday 28 October 2014 14:45
Sermsuk Public Company Limited today announced that the company’s board of directors meeting No. 10/2014 (Special), held yesterday (October 27, 2014), has approved the conditional sale of the ‘est’ carbonated soft drink brand and trademark to International Beverage Holdings Limited. The value of the transaction is estimated to be 1,560 million baht paid out over a three year period. The deal was made in order to leverage the financial and global marketing resources of the ThaiBev Group to support the expansion of the ‘est’ brand into the international market. The transaction will provide Sermsuk with the capital to invest in building best-in-class sales and distribution capabilities. The potential buyer has also committed to building the brand and as such, the company will continue to benefit from contract manufacturing and distribution fees as the volume grows.

The company has appointed Grant Thornton Services Limited as the independent financial advisor to provide an opinion of the conditional sale transaction to the shareholders at an extraordinary general meeting of shareholders No. 1/2014 on Tuesday December 16, 2014 at 13.30 pm. at the Plaza Athenee Hotel, Bangkok.

Mr. Dhitivute Bulsook, President of Sermsuk Public Company Limited said, ‘We are proud that we have been able to build the ‘est’ brand into Thailand’s cool-est soft drink. ‘est’ is a high quality carbonated soft drink brand and has reached a point where it is ready to expand into international markets. This assessment has been validated by the board of directors, who have approved the conditional sale of the ‘est’ trademark to InterBev. Under the ThaiBev Group, InterBev specializes in developing distinctive, premium local brands for global growth and will be responsible for expanding the ‘est’ brand in international markets within a short time frame. The deal has benefited Sermsuk by allowing the company to maintain its focus on being est’s manufacturer and distributor and continuing to successfully strengthen the brand and provide superior services to customers and consumers in Thailand.”

Aziam Burson-Marsteller (ABM)

Tel: +66 (0) 2252 9871 ext. 444