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14050
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CONSUMER PRODUCTS
PITSINEE JITPLEECHEEP
The British Dispensary Co, the manufacturer of St Luke's and Snake-brand prickly heat powder, has acquired a majority stake in Pharmacosmet Co, the owner of Tea Tree and Scacare skin-care products, to strengthen its product portfolio and widen its customer base.
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| Sealing the agreementyesterday: Sutee Ratananakin, (right), managing director of TheBritish Dispensary; Anurut Vongvanij, (second from right), president of The British Dispensary; and Wisarn Ongwundee, (second from left) managing director, and Wiroon Siwaphirunthep, executive director of Pharmacosmet. |
Sutee Ratananakin, managing director of The British Dispensary, said the company would hold an 80% stake, or 180 million shares, in Pharmacosmet. The remaining 20% is still owned by the founders of Pharmacosmet and individual shareholders.
"It is difficult for a mid-sized, family-run business to survive in the market. The merger would help us grow in the future and enhance our operational efficiency thanks to the economies of scale in both manufacturing and marketing," said Anurut Vongvanij, president of The British Dispensary.
Moreover, the acquisition will expand the company's portfolio into skin-care products and widen its customer base to teenagers while creating a new opportunity for the company to strengthen its business in both domestic and overseas markets.
Established 19 years ago, Pharmacosmet is specialised in research and development for beauty and skin-care products, with sales of 500 million baht last year.
The British Dispensary expects to achieve 1.1 billion baht in total revenue this year, up 5-7% from last year. About 66% of the sales will come from personal-care products and 30% from health-care products, including over-the-counter (OTC) and generic medicines and the balance from other products and exports.
The company expects total revenue to rise to 1.5 billion baht and 1.6 billion baht next year.
Mr Sutee said the company was currently strong in Asean and Asia would be its next potential market. It also aims to expand its products globally in the future.
The British Dispensary currently distributes the Snake-brand prickly heat powder and liquid soap to 16 countries in the region including China and India. Export sales are about 120 million baht.
"We hope to double our exports next year," Mr Sutee said.
Wisarn Ongwundee, director and managing director of Pharmacosmet, said after the takeover, the two companies could share facilities, resulting in higher cost-effectiveness and efficiency, particularly in raw-material purchases and human-resource development.
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