Red Bull Rival Moves Focus to Frontier Markets From Thailand
- Energy-drink maker Carabao targets growth in Cambodia, Myanmar
- Carabao expects 20% sales rise in 2020 as virus risks linger
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Carabao Group Pcl, Thailand’s second-biggest maker of energy drinks, will accelerate its push in neighboring countries to counter slowing sales in its home market.
Rising demand in nearby Cambodia and Myanmar will help the company achieve revenue growth of about 20% in 2020, said Managing Director Nutchamai Thanombooncharoen. Carabao is spending 700 million baht ($23 million) to boost production of cans and glass bottles used in overseas markets, she said.