CPF Global Food Solution Public Company Limited (CPFGS), a subsidiary of Charoen Pokphand Foods (CPF), has revealed plans to launch an initial public offering (IPO).
The IPO will involve the issuance of 500 million shares of CPFGS, with CPF and C.P. Merchandising Company Limited retaining a 70% shareholding. CPFGS specializes in the distribution of fresh and processed food products in Thailand.
In May 2022, CPFGS formed a joint venture with Uoriki Co., a renowned fish retailer in Japan.
This collaboration aims to import premium fish products from Japan to Thailand, with the first retail outlet expected to open in August 2023.
By 2024, the joint venture plans to operate 20 retail stores, offering a diverse range of seafood products to Thai consumers.
This partnership leverages CPF’s distribution expertise and Uoriki’s experience in the fresh fish and seafood market, promising a dynamic and successful venture.