Bangkok--12 Jun--Agate Communications
Dymon Asia Private Equity ("DAPE") has invested in a group of companies run by the Kongsuphamanon Family, which include Greenday Global Co., Ltd. and AS World Trading Co., Ltd. (collectively called "Greenday"), via direct investment in Greenday Group Co., Ltd. Greenday is a leading fruit and vegetable snack company headquartered in Samutprakarn,Thailand. With this capital injection, DAPE is now the single largest shareholder in Greenday Group Co., Ltd., with the founding family retaining a majority stake.
The capital injection from DAPE will largely go towards constructing a new factory to cater for the fast growing demand for Greenday's products.
Greenday has an operating track record of almost 30 years, starting out as a manufacturer and distributor of traditional snack products to small oriental enterprises in export markets.
Today, Greenday has evolved and grown to sell its own branded healthy fruit and vegetable snacks domestically and internationally. Greenday's products are sold to more than 25 countries under the Greenday and Glendee brands. Greenday's products, through continuous research and development, are made from the process of vacuum freeze-drying or vacuum frying. Unlike dehydration, in both these processes, the fruits and vegetables are kept in their natural state, with no food preservatives, artificial sugar/sweetener, acid, or artificial food colouring added. The products are gluten-free and retain their original fruit or vegetable taste.
Greenday has also recently opened its first flagship retail store at Show DC, a new 1.8 million square feet shopping mall in Bangkok. In addition to its own brand, Greenday also provides outsourced production services for selected overseas clients in the USA and Europe.
Mr. Chow Tan Yin, Partner at Dymon Asia Private Equity said, "Greenday is a brand that we have liked for a while, and have grown to like even more during our deal engagement. Khun Chairat and the Kongsuphamanon family have built the company into an innovative market leader within the healthy snack food category. The family's passion for developing the best quality products is apparent throughout every step of the production process, and the results are snacks that both children and adults will love. Best of all, they can eat as much as they want. We are very excited about this partnership and look forward to working closely with the family and management."
Mr Chairat Kongsuphamanon, Chief Executive Officer of Greenday and the originator of the Greenday brand of fruits and vegetable snacks said, "We are delighted with the investment by Dymon Asia Private Equity. The investment of 200 million THB has help fund our next phase of growth, enabling us to expand our production capacity substantially with the newest installation our 2nd production factory in North Bangpu Industrial Estate. We have been seeking the right strategic partner, and are delighted with the vision and value-add that Chow Yin and his team brings. We look forward to Dymon's contribution in helping us build the brand, strengthen our organization and improve our distribution strategies."
"Greenday presently has over 30 fruits-variety products for on the market 50% locally and overseas, with its main base of consumers from Hong Kong, Singapore, Korea, Saudi Arabia, and within Europe. Our best selling items are okra chips, Broccoli chips, crispy strawberry, and Coconut chips. In 2018, Greenday aims to produce its fullest capacity with both factories with floor-to-ceiling stock of 1,800 tons of vacuum-packed fruits and targets an overall revenue of 1 billion THB, an increase in 30% of 2017's sale revenue. For anyone interested to taste Greenday products, we are available in Tops Supermarkets, The Mall, Villa, SE-ED Book Center, B2S, Big C, Show DC, 7-11, and Family Mart locations," stated Mr. Chairat Kongsuphamanon.