Osotspa Public Company Limited (SET: OSP) has made an official announcement on January 7, 2021, that its Board of Directors Meeting on 10 November 2021 has a resolution on the collaboration between Osotspa and Yanhee Vitamin Water Co., Ltd. (Yanhee) to establish a new company in Thailand. This investment is consistent with OSP’s overall herbal strategy to extend the beverage portfolio into a new adjacent category to capture growth opportunities.
OSP and Yanhee jointly established Osotspa Yanhee Beverage Company Limited to research, develop, and marketing beverage product(s), which compose, use, or consist of cannabis, or hemp, or cannabis/hemp extraction, which is subjected to license from the Food and Drug Administration and/or other relevant authorities to produce and sell products. The registered capital is not exceeding THB200,000,000 equivalent to the total of 2,000,000 common shares at par value of THB100 per share.
OSP holds 55% of shares through Osotspa Enterprise Company Limited (OSP’s wholly owned subsidiary) and Yanhee holds 45% of shares.
Mrs. Wannipa Bhakdibutr, Chief Executive Officer of OSP, said that this collaboration between OSP and Yanhee allows the two companies to use their strengths to build the new business together. This new business will serve the new consumer demands, especially those related to health and wellness, through developing new products that provide the utmost benefits of cannabis and hemp and are distinguished from others in the market. It will also help create a business expansion to the market with strong growth potential.
