Thailand's Osotspa to buy 51% stake in Japanese venture Asia Vending Machine Operation
BANGKOK, NNA - Thailand’s long-established energy drinks maker, Osotspa Public Co., will buy a 51-percent stake in a Japanese-owned local vending machine operator to expand sales channels.
The company’s wholly-owned subsidiary, Osotspa Enterprise Co., has signed an agreement on the acquisition of shares in Asia Vending Machine Operation Co. (AOC) for 25.5 million baht ($828,000) or 100 baht per share, Osotspa said in a statement last Thursday.
AOC is currently owned 49 percent by Japanese electrical equipment firm, Fuji Electric Co., 48 percent by Fuji Furukawa E&C (Thailand) Co., and 3 percent by Fuji Electric (Thailand) Co., a Fuji Electric subsidiary in Thailand.
Fuji Furukawa E&C (Thailand) is the Thai subsidiary of Japan’s Fuji Furukawa Engineering and Construction Co.
Osotspa Enterprise will purchase the shares held by the two Japanese units in Thailand, the statement said. AOC will become a joint venture between Osotspa and Fuji Electric.
By acquiring AOC’s business, Osotspa aims to increase the distribution channels for its merchandise – which include energy drinks, sports drinks, functional drinks, personal care products, and consumer health products – via vending machines, the statement said.