Thai Wah Public Company Limited, or TWPC, has announced a restructuring of its business from traditional cassava starch into the Food and Specialty Ingredients segments, targeting double-digit growth in both revenue and profit within three to five years. Hathaikarn Kamolsirisakul, Assistant Chief Executive Officer for Sustainability Strategy and Innovation, said the company aims for profit from the Food and Ingredients group to account for more than 80% of its business portfolio by 2030. The company has invested in acquiring shares in Well-Grow, a manufacturer and distributor of ready-to-eat meals and seasonings that has been a close partner for more than five years, to complement Taste, an area where Thai Wah already has expertise in Texture. The collaboration is divided into three phases. The first phase will increase the launch of new products from the usual roughly four to five items per year. Phase two will extend the products into overseas markets such as Vietnam and Europe, with results expected to begin showing in 2027. Phase three will add new product categories drawing on Well-Grow's know-how. At present, Thai Wah derives 20% to 30% of its revenue domestically and 60% to 70% from overseas, with China accounting for about 50% to 60% of overseas revenue. The company wants to expand into the United States and Europe to generate higher margins and profits, leveraging its strength in baking rather than frying, a process suited to the health food market.
Thai Wah Public Company LimitedTWPC is restructuring into Food and Specialty Ingredients and acquiring shares in Well-Grow, targeting double-digit revenue and profit growth within three to five years.
