Lotte Chilsung Beverage is teaming up with CP Group, Thailand's largest conglomerate, to penetrate the local beverage and water market. Lotte Wellfood will also participate in exploring opportunities for expanding its food business in Thailand.
Lotte Chilsung Beverage announced on November 10 that it signed a memorandum of understanding (MOU) for beverage and water business collaboration on November 9 at the CP Extra headquarters in Bangkok.
Attendees at the signing ceremony included Shin Yoo-yeol, head of future growth at Lotte Holdings, Tanit Chiravanon, CEO of CP Extra, and executives from Lotte Chilsung Beverage and Lotte Wellfood responsible for global operations.
CP Extra is a distribution subsidiary of CP Group, operating major retail channels such as Makro and Lotus's in Thailand. CP Group is a leading conglomerate in Thailand involved in various sectors, including food, retail, and telecommunications.
Under the agreement, Lotte Chilsung Beverage plans to leverage CP Extra's distribution network to expand the sales of its beverage and water products in Thailand. The company is considering increasing its product range for the local market and introducing exclusive products for CP Extra's distribution channels.
Lotte Wellfood, another food subsidiary of Lotte Group, is also involved in this collaboration, seeking to explore possibilities for expanding its food business in Thailand. Lotte Chilsung Beverage and Lotte Wellfood will discuss strategies to develop products tailored to local demand using CP Extra's distribution network and consumer data in Thailand and Southeast Asia.
A representative from Lotte Chilsung Beverage stated, "This MOU signifies the establishment of a long-term cooperative foundation with CP Extra, which has a local distribution network. We will strive to introduce a variety of products that meet the needs of Thai consumers through close collaboration between the two companies."
* This article has been translated by AI.
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