Charoen Pokphand Foods Plc (CPF) on Wednesday denied it plans a takeover of struggling poultry poducer Saha Farm.
Adirek Sripratak, president and chief executive officer of CPF, said the company has no policy to acquire cash-strapped companies.
The Saha Farm Group is one of the country's leading chicken exporters.
Saha Farms, with a 20% market share in Thailand's poultry industry, is facing a liquidity crunch due to losses incurred in 2012 from rising animal-feed and labour costs, along with the affects of the baht's appreciation in 2013.
The group has been in the limelight since immigrant workers, mainly from Myanmar, at its frozen chicken factory in Lop Buri's Chai Badan district staged a protest demanding overdue wages after the company failed to pay their salaries in July.
Mr Adirek said CPF is still exploring opportunities to acquire companies with the protential to assist its main businesses.
"CPF has a strong policy to manage integrated business focusing on feed, farm, food and retail operations. The policy has been drawn up to ensure the company achieves quality control throughout the supply chain manufacturing process," he said.