Thai Wah Public Company Limited

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 Limited, or TWPC, has acquired 100% of Well-Grow Company Limited in a deal valued at 190 million baht, expanding into sauces and seasonings. Revenue recognition begins this September and will be booked for a full quarter in the fourth quarter of 2026. Hathairak Kamolsirisakul, Assistant Chief Executive Officer for Strategy, Sustainability and Innovation, said the company aims to drive sales growth in its food and sauce group in overseas markets to double digits, or more than 10%, expanding into Southeast Asia, Asia-Pacific, China, Vietnam, Indonesia, South Korea and Japan. The food business currently accounts for about 15-20% of the total portfolio, while more than 70-75% of revenue comes from overseas markets, with exports to more than 35 countries worldwide. The company aims to launch more than five new products on shelves each year and will also recognize results from a new small-scale production plant in China. The company acknowledged that this year's cassava production costs have risen sharply, but this has not significantly affected profit because it has managed the spread between selling prices and costs.

Thai Wah Public Company Limited (TWPC) announced the acquisition of Well-Grow Company Limited, a Thai producer of sauces and seasonings for the food industry, with a project value of approximately 190 million baht. The goal is to expand its ready-to-eat product line, develop a new business segment in seasoning sauces, and increase channels for international market expansion. The company expects to begin recognizing profits in the third quarter of 2026. This acquisition will enhance capabilities in flavors and proprietary recipes for sauces and seasonings, as Well-Grow has been a long-standing strategic manufacturing partner for Thai Wah. The company will use Well-Grow's products alongside its dragon whiskers snacks to enter the snack market, first expanding into Asian markets and then globally. Well-Grow has an average annual net profit of 20-30 million baht, and management estimates that the payback period will be short due to high growth potential. The performance trend for the third quarter of 2026 is recovering from the second quarter of 2026, despite lingering impacts from cassava root costs and geopolitical conflicts. However, the company has managed to maintain profit margins, especially in the business-to-business (B2B) customer segment, where the company has segmented customers to drive higher average selling prices.

Three listed companies, NAM, SUPER, and TWPC, have disclosed their latest progress. NAM has presented technologies and solutions in Digital Transformation, AI, and Robotic Technology, along with a humanoid robot named NAMI, reflecting its product development approach focused on enhancing efficiency and reducing costs. Meanwhile, SUPER is preparing to hold an Opp-Day event on Friday, September 4, 2026, to update its business direction, following a 246.64% increase in profit for the first six months of the year and a 134.42% increase in the second quarter of 2026. As for TWPC, it announced the acquisition of Well-Grow Company Limited to strengthen its sauce and seasoning business, which will drive future growth and bring it closer to its Farm to Shelf goal.

Thai Wah Public Company Limited, or TWPC, reported results for the first six months of 2026, with total sales revenue of 4.762 billion baht and net profit attributable to the company of 139 million baht, reflecting disciplined cost management and effective proactive management of supply and cost risks. At the same time, TWPC continues to advance its China 2.0 strategy to expand its business and customer base in the Chinese market, with its new manufacturing plant in the People's Republic of China officially commencing operations as planned and beginning commercial production. The company believes that expanding its production base in China will help meet rising demand for specialty ingredients, while reducing logistics costs and improving access to customers in the market, particularly in the food industry, which is one of the company's key target markets.

Thai Wah Public Company Limited, or TWPC, reported its operating results for the first six months of 2026, with total sales revenue of 4.762 billion baht, up 3.5% from the same period last year, and net profit attributable to the company of 139 million baht, up 0.7% year-on-year. In the second quarter of 2026, sales revenue stood at 2.343 billion baht, an increase of 1.8% from the prior year. The food business and Specialty Ingredients business remained key drivers, with the food business's share of gross profit rising from 46.8% in the second quarter of 2025 to 60.0% in the second quarter of 2026. Combined with the HVA business, the two businesses accounted for 79.5% of total gross profit in the second quarter of 2026 and 71.5% in the first half. In addition, the company officially opened a new manufacturing plant in China in mid-July 2026 under its China 2.0 strategy to meet growing demand for Specialty Ingredients products, and expects this to help drive double-digit revenue growth in China.