Lotte Chilsung Beverage announced on the 10th that it has signed an MOU with a Thai distribution company to cooperate in the beverage and bottled water businesses. The company plans to use this as a foundation to expand its presence in the local beverage market.
Lotte Chilsung Beverage announced on the 10th that it signed the MOU, which includes these terms, at the headquarters of CP Extra, a distribution subsidiary of Thailand's CP Group, located in Bangkok, on the 9th.
The signing ceremony was attended by Shin Yu-yeol, Head of Future Growth Division at Lotte Holdings; Tanit Chearavanont, CEO of CP Extra; and executives responsible for global business at Lotte Chilsung Beverage and Lotte Wellfood. Lotte Wellfood, a subsidiary of the Lotte Group, also participated in this MOU.
Lotte Chilsung Beverage and Lotte Wellfood plan to develop joint products and enhance market competitiveness by combining Lotte's brand strength with the distribution networks and customer/market data that CP Extra has established in Thailand and the Southeast Asian region.
A company official from Lotte Chilsung Beverage said, "Through close cooperation between the two companies, we will strive to introduce a variety of products tailored to the needs of local Thai consumers."
Meanwhile, CP Group (Charoen Pokphand Group) is Thailand's largest business conglomerate, operating in various fields including food, distribution, and telecommunications.
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