Red Bull Faces China Challenge From Soccer-Sponsoring Rival
Thai tycoon Sathien Setthasit said he plans to pour $300 million into helping his energy-drink company Carabao Group Pcl take on Red Bull in China, part of a push to expand overseas revenue. The shares rose the most in almost a month.
The outlay is earmarked for marketing and distribution in the next three years to tap rising Chinese demand for energy beverages, Sathien said in an interview. Sathien is Carabao’s chief executive officer, but is funding the investment via a separate company to avoid pressuring Carabao’s finances.
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!