Charoen Sirivadhanabhakdi

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Charoen Sirivadhanabhakdi, collage by Danor Shtruzman (2017)

Charoen Sirivadhanabhakdi ( Thai เจริญ สิริ วัฒน ภักดี RTGS : Siriwatthanaphakdi; * May 2, 1944 in Bangkok as Charoen Srisomboorananont, ศรี สม บูร ณา นนท์ ) is a Thai entrepreneur . He is the owner of the companies TCC-Group , TCC-Land, Berli Jucker Pcl. (BJC), Thai Beverage Plc (ThaiBev), Fraser and Neave Ltd. (F&N) and Big C Supercenter Pcl.

Life

family

Charoen is the sixth of eleven children of a poor family from the South China District Chenghai in Shantou (Province of Guangdong immigrated) to Bangkok. His father ran a roasting stand for mussel pancakes in Bangkok's Chinese Quarter. Charoen left school to work at the age of nine. He speaks the Chinese Teochew dialect and Thai . In Chinese it is called Su Xuming ( 苏旭明 ).

In 1988 the Srisomboorananont family was given the honorary name Sirivadhanabhakdi by King Bhumibol Adulyadej of Thailand , which means "favor, prosperity, loyalty".

Charoen is married to Khunying Wanna Sirivadhanabhakdi. You have five children and live in Bangkok. Since 2008, her son Thapana Sirivadhanabhakdi has been the Chairman and CEO of ThaiBev, while her daughter Wallapa Traisorat is Executive Director and CEO of TCC Land. According to Forbes Magazine, Charoen and his family are among the richest Thais and are listed in The World's Billionaires with a fortune of 18.3 billion US dollars (as of October 2017) .

Career

As a 16-year-old boy, Charoen founded a company in 1960 as a supplier for “Thai whiskey” distilleries. "Thai whiskey" is brown liquor made from sugar cane molasses and partly rice, so not whiskey in the true sense, but a kind of rum . During his activities he met his future wife Wanna. She helped to build up and expand his business. He was able to make important contacts and created a business network in the distillery industry. The distilling of alcoholic beverages was regulated by the state through regional licenses. In 1984 Charoen and its partners were able to acquire all eleven regional licenses available for sale. At the same time he took over the operation of the twelve state distilleries.

With this company foundation in 1960, Charoen laid the foundation stone for the TCC Group. From humble beginnings, a company emerged that now operates in five main business areas: Food and Beverage, Industrial and Commercial Business, Finance and Insurance, Real Estate and Agriculture, and Agriculture.

After the Asian crisis , which hit Thailand hard in 1997, the state privatized its twelve distilleries. Charoen won all auctions. Well-known brands such as Mekhong (spirit made from sugar and rice) and Sang Som (rum) are produced in his distilleries .

When the Danish beer company Carlsberg wanted to enter the Thai market at the beginning of the 1990s, Charoen offered itself as a local joint venture partner. He urged retailers who wanted to sell his popular "whiskey" brands to include Carlsberg beer in their offerings. In this way, the beer brand quickly found widespread use in the country. Charoen had, however, stipulated the right from Carlsberg to use excess capacities in the Carlsberg production facility in Thailand for his own purposes. A short time later he brought the Chang beer on the market, which was similar to Carlsberg in taste and bottle design, but was stronger and significantly cheaper. With this brand he was able to break the dominant position of Singha on the Thai beer market. In 1999, the breweries produced 607 million liters of Chang, compared to 17.4 million liters of Carlsberg. After four years, Chang achieved a market share of almost 60%. In 2003, Carlsberg declared the joint venture a failure and withdrew from the Thai market. Charoen then sued the Danish company and was awarded US $ 120 million in damages.

In 2001 Charoens TCC Group took over the majority of the shares in the established Thai food and filling company Berli Jucker Public Co. Ltd. (Pcl).

In 2003 Charoen founded Thai Beverage Pcl. In 2005 he wanted to be listed on the Bangkok Stock Exchange (SET). After protests by the ascetic Santi Asoke sect, he decided instead to go public on the Singapore Exchange .

The real estate company TCC Land Co., Ltd., as part of the TCC Group, is the largest owner of Marriott Hotels in Asia, the Pantip Plaza Hotel in Bangkok and the Plaza Athénée Hotel in Manhattan.

In February 2013, the Charoens Group acquired the Singaporean conglomerate Fraser and Neave (F&N), which in turn is a major shareholder in Asia Pacific Breweries (APB), which produces Tiger beer , among other things . This was preceded by a lengthy takeover battle with the large Dutch brewery Heineken , which also owns another part of APB.

In February 2016, Charoens TCC Group was able to acquire the majority stake in Big C Supercenter Public Company Limited (PCL) from Groupe Casino SA . Groupe Casino SA had to sell to pay off its own debts.

In August 2017, The QSR of Asia Co., a subsidiary of Charoens Thai Beverages, acquired 252 existing and partly under construction KFC restaurants from Yum Restaurants International (Thailand) Co.

Sports

In 2004 Charoen planned to buy Liverpool FC , which was very popular in Thailand . When that failed, he signed a contract with its rival Everton FC . This made Chang beer the main sponsor of the "Toffees".

Honors

In 1988 the Srisomboorananont family was given the honorary name Sirivadhanabhakdi by King Bhumibol Adulyadej of Thailand .

He was also awarded the following Thai medal titles:

He was awarded the "Diamond Commerce" by the Thai Ministry of Commerce.

Various universities awarded Charoen the title of honorary doctor

Web links

References and comments

  1. ↑ a b Patricia Huang: What's in a Name? In: Forbes (online), March 28, 2005.
  2. ↑ a b Wealth-X Charoen Sirivadhanabhakdi. Retrieved June 13, 2018
  3. ↑ a b c d Jonathan Head: Thai whiskey tycoon Charoen takes over Fraser and Neave. BBC News, February 3, 2013. Retrieved October 13, 2017
  4. ↑ profiles Thapana Sirivadhanabhakdi , 4-traders.com, business leaders. Retrieved June 17, 2018
  5. ↑ Kwanchai Rungfapaisarn: Thapana follows his father's giant footsteps . The Nation, September 17, 2012. Retrieved October 13, 2017
  6. ^ A b Profile Charoen Sirivadhanabhakdi , Forbes Magazine . Retrieved October 13, 2017
  7. ↑ TCC Group company profile . Retrieved June 13, 2018
  8. ↑ a b William Barnes: Heineken, ThaiBev locked in beer brawl. In: Asia Times , August 15, 2012. Retrieved October 13, 2017
  9. ↑ Berli Jucker Pcl. Company profile. Retrieved June 13, 2018
  10. ↑ World Finance Thai tycoon buys up Big C Supermarkets. Retrieved June 13, 2018
  11. ^ The Business Times ThaiBev to acquire KFC stores in Thailand. Retrieved June 13, 2018
  12. ↑ a b c TCC Group History . Retrieved June 13, 2018
  13. ^ Announcement in the Royal Gazette (in Thai). Retrieved June 17, 2018
  14. ^ Announcement in the Royal Gazette (in Thai). Retrieved June 17, 2018
  15. ↑ Curriculum Vitae at Bloomberg LP (US) . Retrieved June 8, 2018
Note on Thai names : This article addresses people by their first name.
personal data
SURNAME Sirivadhanabhakdi, Charoen
ALTERNATIVE NAMES Siriwatthanaphakdi, Charoen
BRIEF DESCRIPTION Thai entrepreneur
DATE OF BIRTH May 2, 1944
PLACE OF BIRTH Bangkok , Thailand