Thai company TCP Group, makers of energy drinks such as the Red Bull brand will invest more than US$150 million in China. The organisation is one of the leading food and beverage companies in Thailand, with a diverse product portfolio comprising four product categories – energy drinks, electrolyte beverages, functional drinks and snacks – and more than 30 product lines under nine brands.
The new investment aims to increase the group's presence in China. Over the next three years, the group will engage in local partnerships, establish a new representative office, and a new in-country team. The company will also build manufacturing centres as well as supporting the launch of the latest Red Bull products, and other innovative products from the group's global portfolio.
“TCP is proud to unveil planned investments of more than $150 million over the next three years in the Chinese market,” said Saravoot Yoovidhya, CEO of TCP Group China. “Our new commitment will help make that aspiration a reality, by strengthening our foundations in-country and therefore empowering TCP to bring the very best of Red Bull to Chinese consumers.”
Before the new investment, the group has already been launching energy drink products in China through the company’s local strategic partners, Guangzhou Yao Energy Co (GZYE) and Pusheng Food Sales Co (PS). These include the Red Bull An Nai Ji Drink which contains a “unique” combination of high-quality ingredients, such as American ginseng extract. There is also a vitamin flavour drink which brings to China's consumers the classic taste of Red Bull, imported directly from the brand's birthplace in Thailand.
We will work closely with our local partners to ensure that our business continues to play an essential role in the development of the Chinese beverage industry, Yoovidhya concluded. (Image from Pixabay)
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