Carabao diversifying into beer

SET-listed Carabao Group (CBG), the maker of Carabao Dang energy drinks, is preparing to invest 4 billion baht to produce beer locally to be marketed in the fourth quarter of this year, according to its chairman.

Sathien Setthasit said on Wednesday that the company would produce bottled and canned beer of a few varieties initially. It has yet to choose a brand name or reveal product pricing.

The company will brew the beer at its plant in Chai Nat province. The beer would be of a German style and a German brewmaster would help start production, Mr Sathien said.

CBG shares closed on Wednesday on the Stock Exchange of Thailand at 103.00 baht, up 3.50 baht or 3.52%, in trade worth 692.1 million baht. Over the past 52 weeks the shares have traded in a range between 80.25 and 116.00 baht.