Lotte Chilsung, Thailand's CP Group sign MOU for beverage partnership

Lotte Chilsung Beverage Co. and Thailand's Charoen Pokphand (CP) Group have signed a memorandum of understanding (MOU) to expand their beverage partnership in the Southeast Asian country, according to a press release. The agreement, signed with CP Group's retail unit CP AXTRA, will allow Lotte Chilsung to broaden its export product portfolio in Thailand and supply customized products through CP AXTRA's extensive retail network nationwide.

This significant collaboration signals a commitment to long-term cooperation, according to a company official. Additionally, Lotte Wellfood Co. has joined the agreement, with intentions to jointly develop products tailored to local Thai consumer preferences and to further expand its presence in the Thai market. CP Group, a conglomerate with diverse interests in food production, distribution, and telecommunications, stands to benefit from this strategic alliance.