Thaiya Corporation aims to enter the dry pet food market.
Thaiya Corporation (Shanghai) Co. Ltd. has announced its purchase of 51% of the Shangdong Thaiya Meisi Pet Foods Co. Ltd.’s ordinary shares in order to produce dry pet food products in China.
The investment was approved in August 2019 by the Asian Seafoods Coldstorage Public Co. Ltd.’s board of directors, a major manufacturer of seafood products for the world market based in Thailand. Asian Seafoods Coldstorage, which is made up of several subsidiaries held by the ASIAN Group, has a ticker symbol of “ASIAN” in the Stock Exchange of Thailand.
Established in China in December 2018, Thaiya is a subsidiary of the Asian Group Service Co. Ltd., which in turn is a 100% subsidiary held by ASIAN Group. Thaiya markets and distributes the pet food brand Monchou manufactured by another ASIAN Group company. Thaiya is also the Group’s subsidiary tasked to invest in stocks or shares of other relevant businesses in China.
Expanding business in Asia
Shangdong Thaiya Meisi Pet Foods owns a dry pet food factory and produces and sells dry pet food products under OEM. Based on the ASIAN Group’s letter to the Thailand bourse, Shangdong has a registered capital of RMB 20 million yuan, or about 90.5 million Thai Baht (US$2.99 million).
2019 marked the ASIAN Group’s foray into the pet food market with its very own brand aimed at maximizing its potential as a high-quality pet food manufacturer. Under the brand Monchou, a French word for “Darling,” the Asian Group offers both premium dry and wet food for cats and dogs, distributed and sold mainly in Thailand. By investing in a new pet food company, the company hopes to achieve its sales target of around 200 million Baht (US$6.5 million) for its first three years in the business and make its name known in the international pet food industry.