January 14, 2014 at 12:01 am
Othel V. Campos
Asiawide Refreshments Corp. is finalizing the buyout of another RC Cola property in Thailand as part of a regional expansion in 2014.
Asiawide chairman Alfredo Yao said Monday he was more inclined to push for the expansion of RC Cola in Thailand among his beverage interests because of an existing plant there.
“The owners came here last December. In fact, we are supposed to go to Thailand this month if only for the ongoing unrest there,” he told reporters in an interview.
Yao said the escalating political tension in Thailand had slowed negotiations to acquire the Southeast Asian nation asset, adding, though, he was confident to close deal within the first quarter of 2014.
The owners of the RC Cola plant in Thailand, he said, wanted to sell because of old age and just keep a minority share in the company.
Yao said the acquisition price had not been finalized.
Asiawide is the license holder and master franchise holder of American beverage company Royal Crown Cola International, a unit of Cott Beverages Inc., in Southeast Asia
It is the country’s lowest cost producer of ready-to-drink juices, iced teas and non-alcoholic beverages.
The company recently consolidated its RC Cola assets and operations, merging the bottling business with the manufacturing side under Maybank ATR Kim Eng Financial Corp., which will soon be renamed Macay Holdings Inc.
Meanwhile, Yao’s Zest-O Corp. is also in an expansion mode, with Indonesia and Myanmar as possible sites for new manufacturing plants.