Tan Passakornnatee, CEO of Ichitan Group, announced yesterday the company has agreed to buy the the manufacturing formula and trademark of Bireley’s from Sunny Herb International Beverage Co. for THB240 million.
The big bucks were paid for the lifetime ownership of Bireley’s trademark not only in Thailand, but also in fifteen other markets including Cambodia, South Korea, Canada, Myanmar, the Philippines, Malaysia, Singapore, the United States, mainland China, India, Hong Kong, Bangladesh, Indonesia, Taiwan and Vietnam.
Tan Passakornnatee, CEO of Ichitan Group, announced yesterday the company has agreed to buy the the manufacturing formula and trademark of Bireley’s from Sunny Herb International Beverage Co. for THB240 million.
“Acquiring the 96-year-old Bireley’s is a worthwhile deal, and was not expensive,” Tan said in an interview with The Nation, ”We can benefit from the deal by expanding our portfolio into fruit juice, relying on the long-standing reputation of the Bireley’s brand name, which is recognised by customers in Thailand and other potential markets in the region.”
Birely’s has declined in popularity since its peak in the 80s, so it will be interesting to see what marketing activity Ichitan will bring to the ailing brand.
“Purchasing a brand with a strong reputation is a better way of expanding our beverage business. It is quite a lot easier than developing a brand by ourselves from the ground up,” he added.
Ichitan will start exporting its Ichitan green tea and Bireley’s fruit juice next year.
To support its new product, the company will also invest in another beverage facility near its existing factory in Ayutthaya province. The budget of THB1.4 billion to purchase the 121,600 square-meter plot and build the facility the has been been approved by the company’s board.
The new beverage plant is expected to open in 2016, The Nation reported.
