September 2026
Largest Food & Beverages Public Companies in Thailand
Benchmark revenue and EBITDA valuation multiples for public comps like
Charoen Pokphand Foods, Thai President Foods, Carabao Group, Osotspa and Betagro.
 | Charoen Pokphand Foods PCL operates in agro-industrial and integrated food businesses. The group’s business operations are located throughout Thailand and overseas. The businesses are divided into two main segments namely the livestock business which comprises chicken, duck and pigs and the aquaculture business comprises shrimp and fish. The two main businesses are vertically integrated, starting from sourcing raw materials for animal feed production, manufacturing animal feed, breeding animals, farming animals for commercial purposes, primary processing meat, producing ready-to-eat food products, and including operating food retail outlets and restaurants. | $1 | -- | $5.5B | $22B | 1.3x | 11.5x | ||
| Thai President Foods PCL is a Thailand-based manufacturer and distributor of instant noodles, semi-instant foods, and biscuit products. Some of its brands include Mama, Ruski, Bissin, Thai Chef, and Bamee. It operates in six segments: Instant noodles and semi-instant foods, Biscuits, Bakery, Packaging, Fruit Juice, and Others, of which a majority of the revenue is derived from the Instant noodles segment. Geographically, the company generates the majority of its revenue from the domestic market. | $6 | -8% | $1.9B | $1.6B | 1.9x | 8.4x | ||
| Carabao Group PCL manufactures and distributes energy drinks, water, and coffee under different brand names through its subsidiaries. It operates in three reportable segments: Manufacture and distribution of drinks under Group's trademark, Distribution of OEM products under Group's trademark, and Distribution of other products. A majority of the company's revenue is generated from the Manufacture and distribution of drinks under Group's trademark segment, which manufactures and sells carbonated and non-carbonated energy drinks, coffee, sports drinks, and vitamin-C drinks through Carabao and Woody C plus brands. Geographically, the company generates maximum revenue from the domestic market, and the rest from overseas markets like the United Kingdom, and other regions. | $2 | -5% | $1.6B | $1.6B | 2.4x | 13.6x | ||
| Osotspa PCL is engaged in the manufacturing and distribution of consumer products, comprising energy drinks and personal care products. In addition, the Group also engaged in providing manufacturing services, distribution of goods and providing marketing services. The company operates in three reportable segments Beverage, Personal care and Others. The majority of its revenue comes from the Beverage segment. Some of its Energy Drink brands include M-150, Calpis Lacto, Slimma, Peptine and others. Geographically, it generates majority of its revenue from Thailand. | $0 | -8% | $1.5B | $1.3B | 1.7x | 7.3x | ||
| Betagro PCL is an integrated agro-industrial and food company. The company's segment includes Agro Business, Consumer Food Business, and Pet Business. The company generates maximum revenue from the Consumer Food Business segment. Geographically, the majority of revenue is from Thailand. | $1 | +12% | $1.2B | $1.9B | 0.5x | 4.5x | ||
| Median | $1 | -7% | $1.6B | $1.6B | 1.7x | 8.4x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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