Dusit Thani Public Company Limited (DTC), one of Thailand’s foremost hotel
and property development companies, has unveiled plans to invest
around 660 million Baht for an approximate 26% share in NR Instant
Produce Co., Ltd., (NRIP), a well-known producer of ready to cook,
ready meals, seasoning powders, dipping sauces, drinks and juices.
To invest in NRIP, whose signature brands
include Por Kwan, Lee, Thai Delight, DEDE, and Shanggie, DTC will
establish Dusit Foods Co., Ltd., a new subsidiary designed to
leverage Dusit’s rich experience in food and beverage service.
investment approval process is expected to be completed at the end of March.
The investment forms part of DTC’s three-pronged
strategy for sustainable and profitable growth, which includes
balance, expansion, and diversification.
Investment in NRIP is
considered DTC’s first investment in an entirely non-hotel related
business. It follows last year’s announcement of DTC’s investment
in a mixed-use project in Bangkok, which will include a new
flagship Dusit Thani Bangkok hotel at the heart of the project.
“With our expertise and experience in F&B, there
is huge growth potential for our company in the food business,”
said Ms Suphajee Suthumpun, Group CEO, Dusit International. “With
time, we hope to create a partnership with NRIP to develop a line
of Dusit- branded, premium products for local and international
Ms Suphajee added that the investment in NRIP
would strengthen DTC’s investment portfolio, and is in line with
the company’s long-term operating plan which comprises five
approaches: 1. Efficiently manage existing assets and provide
appropriate returns; 2. Expand its hotel business in Thailand and
overseas; 3. Diversify its lines of business to mitigate risk; 4.
Expand its customer base and enhance brand image worldwide; and,
5. Strengthen its management and operation teams to expedite