Charoen Pokphand Foods (CPF) has announced plans to acquire a 51% stake in Thailand-based bottled water manufacturer Brew Factory in a deal worth THB 334.7 million (approx. $10.1 million).

Founded in December 2025, Brew Factory operates a bottled and mineral water production business in Surin Province, Thailand. Its site comprises a factory, warehouse and office, with annual production capacity of 295 million litres.

The investment will be made through CPF Food and Beverage (CPFFB), a subsidiary in which CPF indirectly holds a 99.99% stake. CPFFB acquired a 43.6% interest in Brew Factory from existing shareholders on 1 September for THB 235.3 million (approx. $7.1 million).

Within 30 days of the transaction, Brew Factory will issue 216,940 new shares as part of a capital increase. CPFFB will subscribe for 184,400 of these shares for THB 99.4 million (approx. $2.98 million), bringing its overall holding in the company to 51%. Upon completion, Brew Factory will become a subsidiary of CPF.

The company primarily generates revenue through contract manufacturing for traditional and modern trade customers, alongside sales of its own drinking water brand, Sabai.

CPF said the acquisition supports its strategy to expand into the drinking water category, which it described as complementary to its core business and offering “strong growth potential”.