Lotte Chilsung, Thailand's CP Group sign MOU for beverage partnership
Lotte Chilsung Beverage said Tuesday it has partnered with Thailand's Charoen Pokphand (CP) Group to expand sales of its beverage and bottled water products in the Southeast Asian country. Under a memorandum of understanding (MOU) signed with CP Group's retail unit, CP AXTRA, Lotte Chilsung will expand its export product portfolio in Thailand and supply customized products exclusively through CP AXTRA's retail network, the company said in a press release. "This agreement is significant as it lays the groundwork for long-term cooperation with CP AXTRA, which operates a nationwide retail network in Thailand," a company official said. Lotte Wellfood also joined the agreement, with plans to jointly develop products tailored to local consumer preferences with CP AXTRA and expand its presence in the Thai market. CP Group has business interests spanning food production, distribution and telecommunications.
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