OR’s Boards Approve to Acquire 65% of “Peaberry Thai”, Reinforceing Coffee Business

PTT Public Company Limited (PTT) announced that Board of Directors meeting of PTT Oil and Retail Business Public Company Limited (OR), a subsidiary of PTT, on 26 August 2020 passed a resolution on the approval of the investment in PEABERRY THAI Company Limited, which engages in the entire coffee business in Thailand as a supplier, manufacturer, and distributor of coffee beans and equipments for opening the coffee shop, through Modulus Venture Company Limited (Modulus), a wholly owned subsidiary of OR thru PTTOR holdings company Limited (OR Holdings) in the proportion of approximate 65% of paid-up capital with the total investment of THB 171.99 million.

 

Subsequently, on 1 December 2020, Modulus concluded its investment in the PEABERRY THAI Company Limited after PEABERRY THAI Company Limited completed all preceding conditions specific in the agreements. 

 

PEABERRY THAI Company Limited is a supplier, manufacturer, and distributor of coffee beans and equipment for opening the coffee shop including maintenance services for coffee machines both domestic and international operators as well as operating a specialty coffee shop under the brand Pacamara. 

 

The investment objective is to strengthen OR’s coffee business value chain, find opportunities to access the new market in specialty coffee, to increase OR’s ability in raw material and equipment procurement as well as equipment maintenance services in order to support Café Amazon network which is aligned with OR’s vision as the global leading brand.

 

Therefore, this transaction resulted in PEABERRY THAI Company Limited is a subsidiary of PTT.